Assignment 1: Application of AICPA Code of Conduct
In this scenario, you will apply the AICPA authoritative code of conduct to resolve an ethical dilemma involving professional skepticism. This assignment requires a presentation using PowerPoint.
Congratulations! You are now the audit manager of a major CPA firm that specializes in audit, attestation, fraud prevention, and detection services. A senior audit partner asks you to prepare a 30-minute overview presentation for new auditors, where you will address the following topics regarding the auditing function.
You will also present an example of resolving an ethical dilemma involving professional skepticism as part of the auditor’s responsibility for due diligence:
Define professional skepticism.
Explain the auditor’s responsibility to the public.
Explain the auditor’s basic responsibilities in a financial audit.
Explain reasonable assurance.
Once the definitions have been presented, examine a recent ethical dilemma (or a dilemma you create) where the auditor applied certain techniques to assure that the AICPA code of conduct involving professional skepticism was followed throughout the entire audit engagement.
Prepare 5 to 10 PowerPoint slides, with speaker’s notes. Include two to three relevant sources on a references page in APA format.