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    CHAPTER 2 - Ethics, Legal Liability, and Client Acceptance

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    1) Cloud 9 Inc. acquired McLellan's Shoes in 1993 and Ron McLellan joined Cloud 9's board of directors. 2) In 2012, Cloud 9 approached the accounting firm W&S Partners to perform their December 31 audit. 3) If accepted as a client, partner Jo Wadley would be responsible for Cloud 9's audit, with Sharon Gallagher and Josh Thomas assisting with the initial client acceptance process.

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    CHAPTER 2 - Ethics, Legal Liability, and Client Acceptance

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    Jun
    87 views1 page
    1) Cloud 9 Inc. acquired McLellan's Shoes in 1993 and Ron McLellan joined Cloud 9's board of directors. 2) In 2012, Cloud 9 approached the accounting firm W&S Partners to perform their December 31 audit. 3) If accepted as a client, partner Jo Wadley would be responsible for Cloud 9's audit, with Sharon Gallagher and Josh Thomas assisting with the initial client acceptance process.

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    CHAPTER 2 – Ethics, Legal Liability, And Client Acceptance

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    1) Cloud 9 Inc. acquired McLellan's Shoes in 1993 and Ron McLellan joined Cloud 9's board of directors. 2) In 2012, Cloud 9 approached the accounting firm W&S Partners to perform their December 31 audit. 3) If accepted as a client, partner Jo Wadley would be responsible for Cloud 9's audit, with Sharon Gallagher and Josh Thomas assisting with the initial client acceptance process.

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    Download as docx, pdf, or txt
    87 views1 page

    CHAPTER 2 - Ethics, Legal Liability, and Client Acceptance

    Uploaded by

    Jun
    1) Cloud 9 Inc. acquired McLellan's Shoes in 1993 and Ron McLellan joined Cloud 9's board of directors. 2) In 2012, Cloud 9 approached the accounting firm W&S Partners to perform their December 31 audit. 3) If accepted as a client, partner Jo Wadley would be responsible for Cloud 9's audit, with Sharon Gallagher and Josh Thomas assisting with the initial client acceptance process.

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    of 1

    CHAPTER 2 Ethics, Legal Liability, and Client Acceptance

    Sharon and Josh do not know anything about Cloud 9


    Cloud 9 Major concern Is the client going to be easy to deal
    with?
    Summary of Cloud 9 & Accounting Firm (W&S Partners)
    Ron McLellan came to an arrangement with Chip
    Masters and sold McLellans Shoes to Cloud 9 Inc in The members of the professional accounting body (CPA)
    1993 in Canada have professional codes of conduct.
    Ron was appointed to the Cloud 9 board of directors
    Cloud 9 approached the accounting firm W&S Common fundamental ethical principles include:
    Partners about performing the Dec 31, 2012 audit. Integrity
    If the client accepted, the partner responsible for Objectivity
    Professional competence and due care
    the audit will be Jo Wadley.
    Confidentiality
    Sharon Gallagher (Audit Manager) and Josh Thomas
    Professional behaviour
    (Audit Senior) were asked to assist with the client
    acceptance work.
    Sharon has experience with the client acceptance
    work. She knows how crucial this is.
    Josh has not been involved in the client acceptance
    process.

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