7 Pages 1946 Words Business Ethical Principles

| March 17, 2019

Violation /Non Violation Ethical Principles
( a) The Gordan Accountants carried out the Audit of Simtec Ltd from July 7th to the 2nd September
 2016 and Simtec have advised Gordan Accountants that the final payment is dependent upon receiving an “appropriate “ final report.  

(b) David Dale, a local accountant , has been contacted by the Cheap Insurance company to provide
some potential clients and provides details of all his clients to the Cheap Insurance company who are paying David Dale a commission of 5% for each new client .  

Threats to independence.
(c) Katrina Ng ,the Senior Accounts Manager ,from Jenkins Ltd has fallen ill and will need replacing
      for the next four months.Your accounting firm,Thornleigh Accountants has been asked to supply
      a staff member on secondment until Katrina Ng returns. Your firm has supplied Ellen Davis and
      she finished up after four months in mid May .Your firm is going to do the audit of Jenkins Ltd
       from mid July and intend to use Ellen Davis as part of the audit team.

(d)John Dargin ,the Audit Manager of the Dargin Associates Accountants ,has just received the
      accounts from Winmalee Ltd .This has taken an optimistic approach to the valuation of
      development expenditure capitalised in intangible assets .The senior staff bonuses are all related
      to the firm’s profit performance and     Winmalee have provided copies of details taken from
      various accounting standards which are sympathetic to their approach to valuation of these
      assets .

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