An accountant recent met with the CFO of a major corporation.The accountant and this prospective client are contemplating entering into a professional relationship.The prospective corporate client has a history of violating the Foreign Corrupt Practices Act's provisions concerning bribery of foreign government officials.The accountant's job is to ensure that the company fully complies with this law.To accomplish this,the accountant will perform unannounced reviews of the company's accounting records and internal controls from time to time. The accountant's daughter told the CFO that her father is "an amazing accountant," which facilitated the professional introduction.The accountant's daughter recently was promoted to serve as this corporation's Director of International Sales-Asia Division.In all likelihood,the accountant:
A) Should not agree to provide these services to this prospective client
B) May provide services to this client, as long as the accountant's daughter does not also participate directly in the corporation's presentation of corporate financial transactions in the form of financial statements
C) May provide all requested services because a conflict of interest does not currently exist and is not reasonably foreseeable
D) May provide services to this client because safeguards against conflicts of interest readily are available
Correct Answer:
Verified
Q1: Refer to the above question.After learning that
Q2: A CPA's conflicts of interest are determined
Q3: An employee at an information systems consulting
Q5: A CPA agreed to render professional services
Q6: The IFAC code of conduct recognizes the
Q7: An accountant and a prospective client are
Q8: An auditing firm has a standard fee
Q9: A CPA firm knows that clients find
Q10: If a CPA leaves a job in
Q11: A CPA usually charges $3,000 to prepare
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents