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Acct 402 Ethical Considerations and Regulatory Compliance in Financial and Political Practices: A Comprehensive Analysis

This paper discusses ethical considerations and regulatory compliance in financial and political practices, focusing on the importance of adhering to laws and standards.

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Acct 402Ethical Considerations and Regulatory Compliance in Financial andPolitical Practices: A Comprehensive AnalysisFinal Examination Acct 402 Ethics1)The first entity is a CPA firm that has been cited for tax ethical violations. Indicate whatguidelines the firm will have to put in place to comply with ethical considerations as specifiedby the AICPA. Be sure to indicate how the firm will change into an ethical practice and obtainassurancethatthesedirectivesarebeingfollowed.Ans:It is very important that ethical practices are followed while going for financial reporting ofthe firm. While preparing forthe financial reporting of the company,it isthe CPA firms that help inpreparing the financial report for thecompanies and submit the report to the management of thecompany for onward submission to the governing bodies. Here we are discussing about the publiclyhelp companies whose stocks are listed in the stock exchange.The CPA firm should help thecompany in such a way that, the company has zero obligations to meet out after the financialreporting.It is minimum decorum which needsto be maintained by the company to run the businessfor an unlimited period and establishits existence in the society to do a successful business.Eachcompany should honor the tax payment which is due to the company and there should not be anydispute while making the tax payment to the tax authorities. Here in this case, it is mentioned that,theCPA firm was engaged in tax ethical violations. It means there are many possibilities in thisregard like the CPA firm has taken bribe and tried to present the financials in a different way where

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Document Details

University
Liberty University
Course
ACCT 402
Subject
Accounting

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