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  1. In your own words, summarize the key facts and main issues of your assigned case and explain why these issues are considered unethical and/or unprofessional.

  2. Using the “Rules for Members in Public Practice” presented in Chapter 2 of your textbook, describe which specific ethical rules were violated and how. Why do you think it is critically important for certified public accountants (CPAs) to abide by these rules? Rules for members in public practice are Integrity and objectivity, Independence, general standards, and other rules for members in public practice.

  3. Now think about the three elements of fraud (discussed in Chapter 3); while the auditor's wrongdoing is not likely fraud, unethical decisions involve the same elements. Name the three categories of fraud risk factors (a.k.a. the fraud triangle), describe each category in your own words, and explain how each one applies to your assigned wrongdoing (all may not be specifically stated in the case, use some judgment, and infer if this is the case).
    The three elements ( fraud
    risk factors and conditions that indicate an incentive or pressure to commit fraud, provide an opportunity to commit fraud, or indicate rationalizations to justify fraudulent actions)

  4. What sanctions were imposed by the SEC or the PCAOB? Do you feel as though the “punishment fits the crime”? Why or why not?

the assignment should be typed, no longer than 2 pages single-spaced, 12-point font size, Times New Roman font style. Your responses should be numbered consistent with the question numbering above.

Answered 1 days After Sep 04, 2023


Khushboo answered on Sep 06 2023
29 Votes
Summarization of key facts and issues of assigned case and ethical or unethical
In the case, Ram Associates is a LLP and Parmeshwara K Chandran was a certified public accountant and managing partner of firm. The firm was found guilty for various issues related to two of its clients i.e. Ameri Holdings Inc and TripBorn Inc. The partner violated various PCAOB rules and standards in relation to both clients such as non-obtaining of sufficient audit evidences in respect of goodwill of Ameri Inc, no preapproval from audit committee regarding certain tax related services, non- timely collection of audit documentations and non-communication of all critical matters to audit committee. Further, both also
eached PCAOB standards related to engagement quality review and quality control standards and other various ethical guidelines applicable for member in practice. The firm and partner violated all ethical principles and have not discharged their duties with due care and diligence.
Analysis of
each of ethical rules for members in public practice
There are various rules for members in...

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