Acc 645: Advanced Auditing5-1: Journal Entrysouthern New Ham

Acc 645: Advanced Auditing5-1: Journal EntrySouthern New Hampshire University 01:40:32 GMT -05:00Here at ABC Accounting Services, we find it is vital to cultivate an environment and atmosphere that maintains the highest ethical standards possible; to validate the integrity of the services we provide our clients. Recently, this company was informed and made aware that a senior accountant here at ABC Accounting Services named John has been providing a client with services out of the confines of this company and is maintaining a personal financial stake in this client’s company. This action raises a concern of conflict of interest and could lead to violations of the rules and sanctions set forth by AICPA. This journal will outline the key components ofthe rules the AICPA has regarding conflict of interests, and the violations associated with this chain of events, and the reasoning of why ethical standards are so vital.The AICPA Code of Conduct rule 1.100.001 which is also known as the “Integrity and Objectivity Rule” state that all professional members must do everything possible to maintain their objectivity and integrity, circumvent any conflicts of interest, and will consciously not misrepresent facts. The rule calls for accountants in the scope of