Arens-answers to review questions- chapter 3

Arens-answers to review questions- chapter 3 - Review...

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Unformatted text preview: Review Questions 3-1 Two examples are provided for each principle. Others are possible. Principle Example Trustworthiness- clearly document the work that you do, and only indicate that you have completed a task if you have actually done so- clearly identify potential threats to independence that could occur in an engagement Respect- treat your co-workers and employees at your client engagements the way you would like to be treated- analyze the assumptions that you make during your decisions so that your decisions can be unbiased Responsibility- accept work that you can complete in the time frame that you have been given so that you can do your work without being pushed or rushed- if you do not understand how you should complete a task, ask for assistance Fairness- assign work based upon skills rather than personal preference- charge fees based upon work performed Caring- assign work so that it can be completed within reasonable time, rather than incurring excessive overtime- carefully evaluate work, and provide compensation based upon performance Citizenship- set up documentation and procedures to facilitate completion of engagements in compliance with generally accepted auditing procedures and rules of conduct- consider volunteering to assist those who cannot afford PA services, such as working at tax return preparation clinics for the poor 3-2 The structured approach helps to ensure that the relevant facts and consequences are clearly understood and evaluated before moving on to the decision. Usually, more parties are affected than might be originally thought, and several choices of action may result, rather than just one. A structured approach also helps to prevent decisions that may be based upon an excess emotional reaction to include more rational options....
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Arens-answers to review questions- chapter 3 - Review...

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