audit

Get perfect grades by consistently using our writing services. Place your order and get a quality paper today. Take advantage of our current 20% discount by using the coupon code GET20


Order a Similar Paper Order a Different Paper

CALIFORNIA STATE UNIVERSITY SAN BERNARDINO

ACCOUNTING LAW,ETHICS &INSTITUTION

SPRING 2021

Course Assignment #3

Memorandum

Facts:  You are now a supervisor at a mid-size CPA firm. You prepare the tax returns for a company called Rust & Marty, LLC DBA Yellow King “the Company”. In addition, you prepare a calendar year end audit for Yellow King.

The Company is a privately owned LLC, requiring an audit for a bank they finance with and who provides the company a Line of Credit and senior debt. Marty and Rust are not related but have been friends and business partners for years.

Unfortunately, business has been bad and the company has run loses the last two years. The company will most likely file for Chapter 7 bankruptcy. As such, Rust and Marty had a falling out. Now Rust is suspicious that Marty is stealing money from the company.

Rust has personally asked our firm to perform a “forensic” analysis of the company to see whether Marty has been stealing money. During the analysis we found that Marty was running personal expenses through the company.

Discuss the professional standards pertaining to the tax preparation, audit and forensic services. Additionally, analyze the CPA’s duties to Yellow King, Marty and Rust. Focus on the fact Yellow King is our client and we are performing services for Rust. By performing these duties has our firm violated any laws (common law and statutory) or violated our ethical duties?

I will provide 1 point of extra credit if you can name the reference for the “Yellow King” reference.

DIRECTIONS: Discuss the professional standards pertaining to the tax preparation, audit and forensic services. Additionally, analyze the CPA’s duties to Yellow King, Marty and Rust. Focus on the fact Yellow King is our client and we are performing services for Rust. By performing these duties has our firm violated any laws (common law and statutory) or violated our ethical duties?

Like assignment #2, use the AICPA standards to determine what course of action needs to be taken. Analyze the facts accordingly and be sure to apply the facts to the rules found in the standards.

Focus on the attest standards, code of professional conduct (independence) and consulting services standards.

https://www.aicpa.org/research/standards.html

Your paper should be double spaced; 12 font; Time New Roman font and 4 pages double spaced. No more than 4 pages, so make the most out of the space you have. Remember this is a memorandum to a Partner level CPA, so the tone should fit accordingly.

FORMATTING

TO:                Jerry Schnaus

FROM:           Use your name

RE:                 Yellow King

DATE:             January 1, 2021

Good morning Mr.:

"Is this question part of your assignment? We can help"

ORDER NOW

Got stuck with another paper? We can help! Use our paper writing service to score better grades and meet your deadlines.

Get 15% discount for your first order


Order a Similar Paper Order a Different Paper
Writerbay.net