For Each of the Following Cases Indicate Whether or Not

question 34

Essay

For each of the following cases indicate whether or not the action by the CA, a member in good standing of the ICAO, is a violation of the ICAO "Rules of Professional Conduct".In all cases, cite the rule(s) that apply.
a.On an engagement, CA observed all of the quality control guidelines required by the firm.b.CA refused to disclose information demanded by a court of law about a client because of "client-accountant privilege".
c.CA took out a conventional, new home mortgage with a financial institution that is a client.d.CA quoted a fee that was based on whether the CA's report on the client's financial statements resulted in the approval of a bank loan.
e.CA disclosed a lack of independence in the audit report.f.CA acted as a trustee for a client's profit-sharing trust.
g.CA accepted fees from local lawyers referring clients to them.
h.CA performed the audit in accordance with generally accepted auditing standards.
i.CA advised a client to invest in a tax shelter, in which CA has an undisclosed interest.j.CA bought several spots on the local TV station to promote the firm's tax services.

Grasp the essentials of customer relationship management (CRM) and its strategic importance.

Calculate and understand the significance of the dollar fill rate in inventory management.

Identify the importance of accurate and timely feedback to customers at pre-transaction, transaction, and post-transaction stages.

Recognize the role of empowered employees in providing exceptional customer experiences.

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Definitions:

Generally Accepted Auditing Standards (GAAS)

A set of guidelines for auditors working on companies' finances, ensuring audits are systematically conducted with integrity, objectivity, and professionalism.

Professional Negligence

Failure of a professional to perform their duties to the required standard of care, resulting in harm to their client.

Auditing Industry

The sector that involves the examination of financial records and statements to ensure accuracy and compliance with standards and regulations.

Restatement Test

A method used in legal analysis to determine how a restated principle or law applies to a specific situation or case.