Enlist the code violations pertaining to this case.

Question

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Answer 1

Question

Chapter C10, Problem 1DQ

To determine

Enlist the code violations pertaining to this case.

Expert Solution & Answer

Explanation of Solution

Person SL, is a CPA and was a partner of KPMG a leading audit firm, which is one of the Big Four. He shared the confidential information pertaining to one of the clients, with a golf club friend and accepted cash and jewelry from time to time for the information shared.

The list of Codes violated by Person SL is:

Rule 2-01 of Regulation S-X, which codifies the qualification requirements of accountant.
Rule 2-01(b) of Regulation S-X, which codifies the general standard of auditor’s independence.
Rule 2-01(c)(1) of Regulation S-X, which codifies that the accountant is not independent while possessing any information related to the client.
Rule 2-01(c)(11) of Regulation S-X, directs the list of people associated with the audit firm.
Rule 2-01(f)(8) of Regulation S-X, provides the list of people in chain of command.
Rule 2-01(b)(1) of Regulation S-X, which articulates violation of PCAOB rules.

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Answer 2

Question

Chapter C10, Problem 1DQ

To determine

Enlist the code violations pertaining to this case.

Expert Solution & Answer

Explanation of Solution

Person SL, is a CPA and was a partner of KPMG a leading audit firm, which is one of the Big Four. He shared the confidential information pertaining to one of the clients, with a golf club friend and accepted cash and jewelry from time to time for the information shared.

The list of Codes violated by Person SL is:

Rule 2-01 of Regulation S-X, which codifies the qualification requirements of accountant.
Rule 2-01(b) of Regulation S-X, which codifies the general standard of auditor’s independence.
Rule 2-01(c)(1) of Regulation S-X, which codifies that the accountant is not independent while possessing any information related to the client.
Rule 2-01(c)(11) of Regulation S-X, directs the list of people associated with the audit firm.
Rule 2-01(f)(8) of Regulation S-X, provides the list of people in chain of command.
Rule 2-01(b)(1) of Regulation S-X, which articulates violation of PCAOB rules.

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Answer 3

Question

Chapter C10, Problem 1DQ

To determine

Enlist the code violations pertaining to this case.

Expert Solution & Answer

Explanation of Solution

Person SL, is a CPA and was a partner of KPMG a leading audit firm, which is one of the Big Four. He shared the confidential information pertaining to one of the clients, with a golf club friend and accepted cash and jewelry from time to time for the information shared.

The list of Codes violated by Person SL is:

Rule 2-01 of Regulation S-X, which codifies the qualification requirements of accountant.
Rule 2-01(b) of Regulation S-X, which codifies the general standard of auditor’s independence.
Rule 2-01(c)(1) of Regulation S-X, which codifies that the accountant is not independent while possessing any information related to the client.
Rule 2-01(c)(11) of Regulation S-X, directs the list of people associated with the audit firm.
Rule 2-01(f)(8) of Regulation S-X, provides the list of people in chain of command.
Rule 2-01(b)(1) of Regulation S-X, which articulates violation of PCAOB rules.

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Answer 4

Question

Chapter C10, Problem 1DQ

To determine

Enlist the code violations pertaining to this case.

Expert Solution & Answer

Explanation of Solution

Person SL, is a CPA and was a partner of KPMG a leading audit firm, which is one of the Big Four. He shared the confidential information pertaining to one of the clients, with a golf club friend and accepted cash and jewelry from time to time for the information shared.

The list of Codes violated by Person SL is:

Rule 2-01 of Regulation S-X, which codifies the qualification requirements of accountant.
Rule 2-01(b) of Regulation S-X, which codifies the general standard of auditor’s independence.
Rule 2-01(c)(1) of Regulation S-X, which codifies that the accountant is not independent while possessing any information related to the client.
Rule 2-01(c)(11) of Regulation S-X, directs the list of people associated with the audit firm.
Rule 2-01(f)(8) of Regulation S-X, provides the list of people in chain of command.
Rule 2-01(b)(1) of Regulation S-X, which articulates violation of PCAOB rules.

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Answer 5

Chapter C10, Problem 1DQ

To determine

Enlist the code violations pertaining to this case.

Expert Solution & Answer

Explanation of Solution

Person SL, is a CPA and was a partner of KPMG a leading audit firm, which is one of the Big Four. He shared the confidential information pertaining to one of the clients, with a golf club friend and accepted cash and jewelry from time to time for the information shared.

The list of Codes violated by Person SL is:

Rule 2-01 of Regulation S-X, which codifies the qualification requirements of accountant.
Rule 2-01(b) of Regulation S-X, which codifies the general standard of auditor’s independence.
Rule 2-01(c)(1) of Regulation S-X, which codifies that the accountant is not independent while possessing any information related to the client.
Rule 2-01(c)(11) of Regulation S-X, directs the list of people associated with the audit firm.
Rule 2-01(f)(8) of Regulation S-X, provides the list of people in chain of command.
Rule 2-01(b)(1) of Regulation S-X, which articulates violation of PCAOB rules.

Answer 6

Chapter C10, Problem 1DQ

To determine

Enlist the code violations pertaining to this case.

Expert Solution & Answer

Explanation of Solution

Person SL, is a CPA and was a partner of KPMG a leading audit firm, which is one of the Big Four. He shared the confidential information pertaining to one of the clients, with a golf club friend and accepted cash and jewelry from time to time for the information shared.

The list of Codes violated by Person SL is:

Rule 2-01 of Regulation S-X, which codifies the qualification requirements of accountant.
Rule 2-01(b) of Regulation S-X, which codifies the general standard of auditor’s independence.
Rule 2-01(c)(1) of Regulation S-X, which codifies that the accountant is not independent while possessing any information related to the client.
Rule 2-01(c)(11) of Regulation S-X, directs the list of people associated with the audit firm.
Rule 2-01(f)(8) of Regulation S-X, provides the list of people in chain of command.
Rule 2-01(b)(1) of Regulation S-X, which articulates violation of PCAOB rules.

Answer 7

Chapter C10, Problem 1DQ

To determine

Enlist the code violations pertaining to this case.

Answer 8

Expert Solution & Answer

Explanation of Solution

Person SL, is a CPA and was a partner of KPMG a leading audit firm, which is one of the Big Four. He shared the confidential information pertaining to one of the clients, with a golf club friend and accepted cash and jewelry from time to time for the information shared.

The list of Codes violated by Person SL is:

Rule 2-01 of Regulation S-X, which codifies the qualification requirements of accountant.
Rule 2-01(b) of Regulation S-X, which codifies the general standard of auditor’s independence.
Rule 2-01(c)(1) of Regulation S-X, which codifies that the accountant is not independent while possessing any information related to the client.
Rule 2-01(c)(11) of Regulation S-X, directs the list of people associated with the audit firm.
Rule 2-01(f)(8) of Regulation S-X, provides the list of people in chain of command.
Rule 2-01(b)(1) of Regulation S-X, which articulates violation of PCAOB rules.