Topic 1:
Research the Supreme Court case (United States v. Arthur Young, 465 U.S. 805 (1984)). In this case, the Supreme Court described the auditor’s role as being that of a “public watchdog.” Do you agree with this statement? What are some limitations of audits that might not allow auditors to fulfill this role?
*Do not forget to respond to the other topic this week.
Topic 2:
As outlined in your textbook, one of the major areas of the American Institute of Certified Public Accountants work is to contribute to the profession’s self-regulation.
What unique contribution do these safeguards provide to the profession’s ethical standards?Identify some of the safeguards the AICPA has created to protect against threats to fundamental ethical principles.
