Write an ACCT 402 Ethics 10 page double-spaced paper (not including the title page) on the basis of your research and reading for the semester. Please read the situations below. You are allowed one illustration (a picture, excel chart, or the like which will not exceed ½ of a page.). Your ACCT 402 Ethics paper must be uploaded to Blackboard by 11:59 pm on May 21, 2015.
You are an accounting ethics consultant and have been charged to provide assistance to the following entities. Write about what course of action should be taken as well as the requisite ACCT 402 Ethics issues.
1) The first entity is a CPA firm that has been cited for tax ethical violations. Indicate what guidelines the firm will have to put in place to comply with ethical considerations as specified by the AICPA. Be sure to indicate how the firm will change into an ethical practice and obtain assurance that these directives are being followed.
2) One of your clients has decided to run for U.S. Senate. She would like you to become a member of her senior staff. Your assignment is to handle campaign contributions and be responsible for financial reporting to the Federal Election Campaign office. Indicate what filings need to be done and when. Explain what the candidate’s staff should do to ensure compliance with the Federal Election Campaign Finance rules.
3) The candidate that you represented in item 2 gets elected. She is approached by various foreign interests since she is on the foreign trade committee. One is a pharmaceutical company in Japan that wants to partner with a pharmaceutical firm in the United States to sell its drug for weight loss.
The other firm is from Yemen selling rugs from the Middle East with questionable ties to ISIS leaders. Indicate how you would investigate the activities of both of these companies. Defend your advice to accept or reject gifts, payments, or campaign contributions from either of these companies.
4) Finally, you accept to become a consultant for a large Bank based in the United States that has been cited by the Federal Government for ethics violations as it applies to loans, stock trades, and other financial services provided to domestic companies (with the United States). Give advice on what specific procedures need to be implemented to prevent these ethical violations from recurring.
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