Accountants Code of Ethics - Accounting and Finance - Assignment Help

Assignment Task

The following are a number of different situations  where there may be violations of the ethical principles .You are asked to state whether there has been a violation of the Accountants Code of Ethics and state which ethical principle has been violated and  briefly providing a reason(s) for your opinion:

1.  Katrina Ng is a manager on the audit of a not for profit entity.She is also a member of the Board of Directors for the not for profit entity,but the position is honorary and does not involve  her acting in a management capacity for the not for profit firm
2. David Chathamconducted an audit of Olive Ltd for the year ended 30 June 2017 .David has just started his audit of Olive for the year ended 30 June 2018 .The audit fees for the year ended 30 June 2017 have not yet been paid 

Question 2  Indicate the type of opinion that should be expressed in each of the following situations,providing reasons for your choice (c) Management have excluded from the financial report the necessary disclosures in relation to a contingent liability .If this becomes an actual liability it will have a material effect on the financial report.The item is not expected to any other material effects on the financial statements.

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