The AICPA's Integrity and Objectivity Rule states: "In the performance of any professional service, a member shall maintain objectivity and integrity, shall be free of conflicts of interest, and shall not knowingly misrepresen facts or subordinate his or her judgment to others." - • You are an experienced CPA working in the Financial area of a Governmental Agency. In recent years, there have been a number of scandals at the Agency involving the CEO (i.e. President) and members of the Board of Directors. • The Agency has just appointed a staff attorney to the position of Chief Audit and Compliance Officer ("CACO"). This individual has never had an accounting or auditing course but has just enrolled in an evening program at a Chicago area University to obtain a "Certificate of Accounting." The CACO works directly for the Board of Directors. • The Agency, with the blessing of the Board of Directors, recently hired a public relations firm to help improve its image. • You are approached and asked if you would like to work for the CACO. Questions: 1. What are the issues? Should you accept this position?
The AICPA's Integrity and Objectivity Rule states: "In the performance of any
professional service, a member shall maintain objectivity and integrity, shall be free of
conflicts of interest, and shall not knowingly misrepresen facts or subordinate his or
her judgment to others." -
• You are an experienced CPA working in the Financial area of a Governmental Agency.
In recent years, there have been a number of scandals at the Agency involving the CEO
(i.e. President) and members of the Board of Directors.
• The Agency has just appointed a staff attorney to the position of Chief Audit and
Compliance Officer ("CACO"). This individual has never had an accounting or auditing
course but has just enrolled in an evening program at a Chicago area University to
obtain a "Certificate of Accounting." The CACO works directly for the Board of
Directors.
• The Agency, with the blessing of the Board of Directors, recently hired a public
relations firm to help improve its image.
• You are approached and asked if you would like to work for the CACO.
Questions:
1. What are the issues?
Should you accept this position?
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