I would think that disclosing the advisors motives would have a greater impact on the estimator’s decision. This shows that although auditors are required to reveal conflicts of interest to investors, this information does not necessarily impact the investors’ decisions. I would agree with the authors that the provision to disclose conflicts of interest may worsen the problem rather than fix the problem. It makes sense that if the auditors think their disclosure
As a potential candidate, I would be frustrated that my personal motivation and attitude would not offset any deficiencies I may have had during the screening process. The impact of such screening could in fact have a negative impact upon achieving diversity arising from age, ethnicity or religious preference. A modified merit system that weights key qualifications for different job descriptions may be a viable alternative. Government hiring must be equitable across the populace and devoid of any prejudice and bias. The result is bureaucracy of rules and regulations affecting the hiring process, and a common perception of being a slow and protracted process.
"27 Accordingly, "Independent auditors should not only be independent in fact; they should avoid situations that may lead outsiders to doubt their independence. "28 The 1979 Report of the Public Oversight Board ("POB") echoes the point, noting that the appearance of independence is itself "a key ingredient to the value of the audit function, since users of audit reports must be able to rely on the independent auditor. If they perceive that there is a lack of independence, whether or not such a deficiency exists, much of that value is lost. "29 The Supreme Court made the same point in the Arthur
This withdrawal must happen without violating relevant ethical rules. Rule number 3 of the relevant ethical rules states that a lawyer cannot engage in conduct involving dishonesty, fraud, deceit or misrepresentation (Rule 8.4( C )). The fact that some lawyers are abandoning some clients in disagreement with the settlement can be seen as deceit and misrepresentation. They originally took on the client with the intentions of fighting the case to the end and not settling for a standard settlement. The client now needs to find another lawyer to represent them and this can be time consuming when starting a case completely from scratch.
QUESTIONS: Chapter 7:pages 280-296; pages 301-308 1) Should the percentage of attorney's fees in contingency cases be limited by statute or ethical rules? Why or why not? The percentage of attorney’s fees in contingency cases should be limited in statute or ethical rules because just like our textbook mentions, they would discourage many processes in the legal cases and without the limits put by ethical rules or statues, I believe it would go corrupt and there would be no form of control, not only making things corrupt, but very disorganized, and there should be a general percentage determined to collect, not a different rate all over. 2) What do you think the reason for limiting the amount of contingency fees in medical malpractice cases? The reason for limiting amount of contingency fees in medical malpractice cases are victims have a right to a reasonable fee and it is essential to preserve that right as stated by American Bar Association http://apps.americanbar.org/tips/contingent/MedMalReport092004DCW2.pdf.
Whether or not they are actual CPAs, forensic accountants must have a strong accounting background. Obviously forensic accountants are dealing with numbers. These numbers involve money and determining if it was gained fraudulently or how money relates to other types of investigations that forensic accountants perform. Being able to determine if a company has been “cooking the
Defaulting on a charge card might prompt gathering endeavors, yet lenders can't take your resources for pay for the obligation. Some individual loans are viewed as unsecured loans on the off chance that you didn't set up any of your property as security for the loan. Defaulting on unsecured loan installments can prompt negative results, for example, harm surprisingly, unforgiving gathering endeavors and legitimate activity. Another illustration of an unsecured loan is an understudy loan. For the most part, understudy loans are dealt with truly by the loaning organization and defaulting on such loans can prompt critical results.
ACC202 Module 1 CAS Trident University 15 January 2015 There are two different types of accounting that I will be discussing. There is financial accounting and managerial accounting. Financial and management accounting are both important tools for a business, but serve different purposes. Financial accounting is used to present the financial health of an organization to its external stakeholders. Board of directors, stockholders, financial institutions and other investors are the audience for financial accounting reports.
7.2 The question comes down to if the new Delaware statue repeals the old Delaware act that requires contracts that take more than year to perform, be signed.The new Delaware statue only provides more flexibility to the LLC operating agreements and does not remove LLC operating agreements from the reach of the statue of Frauds.Hence Olson is not entitled to not entitled to receive more than his 2005 compensation and capital account 7.3 The court needs to look at the following factors to interpret the ambiguity in the wording, • Sustainability of the mistake - If the mistake has a material effect on one of the parties • Allocation of risks -If one party accepts the risk they have to accept the risk. • Timing - The party alleging the mistake must promptly notify the there party of the risk No.Even in a case where the mistake is unilateral the court can void the contract if the offer is too good for one of the parties or if the non mistaken party is guilty of mis conduct or fraud. 7.4 On
4. A managerial accounting system typically provides both financial and nonfinancial information. For example, financial information on cost of production is tracked. Other information, such as the number of warranty returns, may also be tracked by the management information system. 5.