AC 502 Unit 6 Final Project Accountant Responsibility NEW

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Kalpan university AC 502 Unit 6 Final Project
Accountant Responsibility NEW Check this A
tutorial guideline at
http//www.assignmentcloud.com/ac- 502-kaplan-u.n.
iversity/ac-502-unit-6- final-project-accountant-r
esponsibility- new For more classes visit
http//www.assignmentcloud.com. In the first part
of the course project, you were asked to evaluate
current levels of regulation from a perspective
of efficiency. In this second part of the course
project, you are going to evaluate current levels
of regulation from the perspective of accountant
responsibility. There are four major parts to
this paper 1) Begin with an introduction to
accountant responsibility. Accountants have a
responsibility to three major parties their
clients, third parties, and the government.
Discuss these three parties
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in detail, and outline the various
responsibilities that the accountant has to
each. 2) Search the Internet (www.sec.gov is a
great resource) for actions that have been
brought against accountants or accounting firms.
Select an action/claim that relates to each of
the three parties discussed in part 1 of the
paper, and summarize the details. For each of the
three actions/claims, identify which act or law
was broken by the accountant and how. 3) As
discussed in this unit, there is a limited
accounting-client privilege. Currently,
this privilege applies only to civil cases
brought by the IRS or U.S. government. Should the
accounting-client privilege be expanded (as it is
in law and medical fields)? Why or why not? If
the accounting- client privilege were to be
expanded, how would that affect the accountant's
whistleblowing responsibility? 4) Conclude
your paper with a discussion of priority.
Accountants are liable to a variety of
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individuals/groups clients, government,
shareholders, community, etc. What or who should
take priority? Obviously, accountants have a
responsibility to obey the law, but where does
priority lie beyond the rules and regulations?
For example, consider a situation in which a
company has organized their books in a way that
does not technically break the law, but that
could be confusing to investors/shareholders. A
scenario such as this involves each of the three
major parties to which the accountant is liable.
Find a real-life example to support your
conclusion.