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    First issue is that the firm did not support the partner

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    Regarding the India & Tata Finance case, the first issue is that the firm did not support the partner who wrote the report. Do you think this is an isolated incident or one that could happen with ongoing frequency? Also, what about the balance of power between the firm and the client? Do you think the public accounting firm may lack independence because of economic dependence on the client? How important do you think the competitive environment was in influencing the players in this case?

    See below links:

    1- https://books.google.com/books?id=HPwVqabKeXEC&pg=PA493&lpg=PA493&dq=Case+8.10,+%E2%80%9CInstitute+of+Chartered+Accountants+of+India&source=bl&ots=G0m0m2jkAr&sig=fO4pMjd-MfKlzYDc655QmBSp6kA&hl=en&sa=X&ved=0CCUQ6AEwAWoVChMI9PTS5qOAxwIVyJiACh3AiAig#v=onepage&q=Case%208.10%2C%20%E2%80%9CInstitute%20of%20Chartered%20Accountants%20of%20India&f=false

    2- https://books.google.com/books?id=FRQ8AAAAQBAJ&pg=PA481&dq=India+%26+Tata+case&hl=en&sa=X&ved=0CC4Q6AEwA2oVChMIq4OItqGAxwIViNWACh2kfwVr#v=onepage&q=India%20%26%20Tata%20case&f=false

    Leadership with Trust

    Ratan N. Tata
    [This link is broken. This document Has been scanned and placed in the Tata and CA folder as Ratan Tata.]


    Values and Purpose

    Pages 1-7


    © BrainMass Inc. brainmass.com October 2, 2020, 5:51 am ad1c9bdddf

    Solution Preview

    The response addresses the query posted in 473 words with APA References.

    // The Independence of accounting firm is very essential in carrying out the accounting and auditing services in order to stop the unethical practices. In this context, the following discussion is focused on the competition among the accounting firms and its impact on independence in India. Further the role of institute of chartered accountant of India, a federal agency vested with the responsibilities to govern the operations of accounting firms, have been explored.//

    In India, the profession of accounting is regulated by institute of chartered account of India which is federal agency setup under the constitution of India. The institute has provided for ethical standards which require a member of ...

    Solution Summary

    The first issue that the firm did not support the partner is determined. India and Tata finance case are determined. The response addresses the query posted in 473 words with APA References.