Explore BrainMass

Explore BrainMass

    Accounting, policy, and ethics

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    You are on the board of an accounting firm overseeing the financial records of clients. A junior financial analyst has come to you with some irregularities in the methods utilized by a major client. These methods have created an increase in revenue for your client and may not have been deployed on the advice of some of your analysts. You are regulated by the Security and Exchange Commission and have a fiduciary relationship to the client.

    What do you do? Identify which issues should be considered to establish the organizational values necessary to form a favorable corporate identity.

    © BrainMass Inc. brainmass.com June 4, 2020, 12:13 am ad1c9bdddf
    https://brainmass.com/business/business-philosophy-and-ethics/accounting-policy-ethics-326324

    Solution Preview

    Financial firms, as of the last decade have been increasing held to higher standards of accountability. The Sarbanes Oxley Act of 2002 changed the whole ballgame. Auditors, no longer just sign off that a firm's financial reports are reported fairly. They are charged with overseeing, consulting, documenting and reporting the the federal government comprehensively the methods and integrity of the firm. Steep criminal charges are applied to those committing any form of accounting fraud.

    To maintain a ...

    Solution Summary

    This post describes a situation in an accounting firm and an ethical situation. The expert identifies which issues should be considered to establish the organizational values necessary to form a favourable corporate identity.

    $2.19

    ADVERTISEMENT