acc562 week 2 discussion 2

acc562 week 2 discussion 2 - Based on your analysis of the...

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Based on your analysis of the “Jamaica Water Properties” case study, respond to each of the discussion points: Discuss the measures accounting firms can take to reduce the risk that personal relationships between client personnel and members of an audit engagement team will adversely affect the quality of an audit. Should businesses, accounting firms, and other organizations explicitly reward ethical behavior by their employees and executives? Defend your answer. To reduce the risk that personal relationships between client personnel and members of an audit engagement team will adversely affect the quality of an audit, the following measures can be taken by accounting firms. (a) Mandatory rotation of auditor partners Section 203 of the Sarbanes-Oxley Act (SOX) prohibits either the primary or reviewing audit partners from providing audit services to a client that he or she audited in each of the five preceding years”. This rule specifies that the lead and concurring review audit partners must
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This note was uploaded on 02/01/2012 for the course ACCT ACC562 taught by Professor Williamguy during the Fall '10 term at Strayer.

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