(Test Bank) Contemporary Auditing

Knapp, 11

Business

Test Bank

11th Edition

• $15.00 $50.00

---

Description

Test Bank for Contemporary Auditing, The downloadable file consists of 425 pages, and the total size of the file is 13.2 MB. Purchase now only for highly discounted price.

Author(s): Knapp

---

---

Study Note Preview

© 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. TABLE OF CONTENTS, 11th Ed. Preface vi SECTION 1 Compre hensive Cases 1.1 Enron Corporation …………………………………………………………………….. 1 1.2 Lehman Brothers Holdings Inc ………………………………………………………… 8 1.3 Just for FEET, Inc .……………………………………………………………………... 16 1.4 Health Management, Inc ………………………………………………………… ……. 26 1.5 The Leslie Fay Companies ……………………………………………………………. 32 1.6 Le-Nature ’s Inc………………………………………………………………………… 40 1.7 Navistar International Corporation ……………………………………………………. 48 1.8 Livent, Inc ……………………………………………………………………………… 55 1.9 ZZZZ Best Company, Inc ……………………………………………………………… 62 1.10 DHB Industries, Inc ……………………………………………………………………. 69 1.11 New Century Financial Corporation …………………………………………………… 79 1.12 Madoff Securities……………………………………………………………………… . 88 1.13 AA Capital Partners, Inc ……………………………………………………………….. 94 SECTION 2 Audits of High -Risk Accounts 2.1 ....... Jack Greenberg, Inc …………………………………………………………………… 101 2.2 Golden Bear Golf, Inc ……………………………………………………………….... 109 2.3 Take-Two Interactive Software, Inc ………………………………………………….. 115 2.4 General Motors Company …………………………………………………………….. 123 2.5 Lipper Holdings, LLC ……………………………………………………………….. .. 128 2.6 CBI Holding Company, Inc …………………………………………………………… 134 2.7 Bankrate, Inc ………………………………………………………………………...... 140 2.8 Belot Enterprises …………………………………………………………………… … 147 2.9 Powder River Petroleum International, Inc ………………………………………… ... 1 52 2.10 LocatePlus Holdings Corporation …………………………………………………….. 160 2.11 Overstock.com, Inc …………………………………………………………………… 166 2.12 Parker -Halsey Corporation …………………………………………………………… 173 © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. iii SECTION 3 Internal Control Issues 3.1 The Trolley Dodgers …………………………………………………………………. .. 181 3.2 Howard Street Jewelers, Inc. ………………………………………………………… . 184 3.3 Avon Products, Inc. ………………………………………………………………… ... 189 3.4 First Keystone Bank …………………………………………………………………. . 196 3.5 Goodner Brothers, Inc. ………………………………………………………………. . 200 3.6 Buranello’s Ristorante ……………………………………………………………… … 206 3.7 Saks Fifth Avenue ……………………………………………………………………. . 212 3.8 The Boeing Company ………………………………………………………………… . 216 3.9 Wal-Mart de Mexico ………………………………………………………………… . 221 SECTION 4 Ethical Responsibilities of Accountants 4.1 Creve Couer Pizza, Inc ……………………………………………………………….. . 227 4.2 F&C International, Inc ………………………………………………………………… 231 4.3 Suzette Washingt on, Accounting Major ………………………………………………. 236 4.4 Freescale Semiconductor, Inc …………………………………………………………. 240 4.5 Wiley Jackson, Accounting Major …………………………………………………….. 245 4.6 ...... Arvel Smart, Accounting Major ……………………………………………………….. 249 4.7 Zane Corbin, Accounting Major ………………………………………………………. 252 4.8 Dell Inc ………………………………………………………………………………… 258 SECTION 5 Ethical Responsibilities of Independent Auditors 5.1 Cardillo Travel Systems, Inc ………………………………………………………….. 264 5.2 American International Group, Inc …………………………………………………… . 270 5.3 Caesars Entertainment Corporation ……………………………………………… …… 274 5.4 IPOC International Growth Fund, Ltd ………………………………………………… 278 5.5 Le-Nature ’s Inc., Part II ………………………………………………………………. 283 5.6 Richard Grimes, Staff Accountant ……………………………………………………. . 287 SECTION 6 Professional Roles 6.1 Leigh Ann Walker, Staff Accountant …………………………………………………. 291 6.2 Bill DeBurger, In -Charge Accountant ………………………………………………… 296 6.3 Hamilto n Wong, In -Charge Accountant ………………………………………………. 300 6.4 Tommy O'Connell, Audit Senior ……………………………………………………… . 305 6.5 Avis Love, Staff Accountant ………………………………………………………….. 310 6.6 Charles Tollison, Audit Manager ……………………………………………………… 316 6.7 Madison Wells, Audit Manager ………………………………………………………. . 320 6.8 Tillman Rollins, Office Managing Partner …………………………………………….. 327 © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. iv SECTION 7 Professional Issues 7.1 Ligand Pharmaceuticals ………………………………………………………………. 332 7.2 Sarah Russell, Staff Accountant ……………………………………………………… 338 7.3 Washington Council Ernst & Young …………………………………………………. 342 7.4 Internet Infamy ………………………………………………………………………... 347 7.5 Fred Stern & Company, Inc. ( Ultramares Corporation v. Touche et al. )…………….. 352 7.6 First Securities Company of Chicago ( Ernst & Ernst v. Hochfelder et al. )…………... 358 7.7 Texas Drug Warehouse ……………………………………………………………….. 363 7.8 Frank Coleman, Staff Accountant ……………………………………………………. . 367 7.9 Olivia Thomas, Audit Senior …………………………………………………………. 372 SEC TION 8 International Cases 8.1 ........ Longtop Financial Technologies Limited …………………………………………….. 377 8.2 Kaset Thai Suga r Company …………………………………………………………… 384 8.3 Republic of Somalia …………………………………………………………………... 388 8.4 Republic of the Sudan ………………………………………………………………… 393 8.5 ....... Shari’a ………………………………………………………………………………… 398 Shari’a ........ 8.6 ....... Olympus Corpora tion…………………………………………………………………. 403 © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. v Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. vi PREFACE Contemporary Auditing: Real Issues and Cases, Eleventh Edition can be used as either a supplemental text for an undergraduate auditin g course or as a primary text for a graduate -level course in auditing. I typically use cases instead of textbook homework assignments when I am teaching undergraduate auditing. Over the more than 35 years that I have taught auditing, one of the most comm on complaints that I have heard from students in my courses is the lack of practical examples of auditing problems and decision contexts. The cases included in this text overcome this limitation of the standard undergraduate auditing course by requiring s tudents to address actual, not contrived, situations that auditing practitioners have been forced to cope with in the past. Cengage Learning ’s customized publishing capability makes it possible for instructors to select any combination of cases from t his text for integration into their auditing courses. To facilitate the selection of cases by instructors, I have included two topical indices in th e casebook . The first index, Summary of Topics by Case, lists each of the more than 70 cases in this text and the primary auditing or auditing -related topics addressed in each case. The second index lists, in alphabetical order, the more than 1 50 key auditing topics addressed in this text and the specific cases in which those topics are raised. The "Suggesti ons for Use" section of each case solution also contains recommendations regarding the point at which each case should or could be integrated into an auditing course. At the graduate level, I have designed a one -semester course modeled around a selection of the cases presented in Contemporary Auditing: Real Issues and Cases, Eleventh Edition . A syllabus for that course is included in this preface. Each case solution includes the following five sections: Synopsis, Key Facts, Instructional Objectives, Suggestions for Use, and Suggested Solutions to Case Questions. The purpose of the Synopsis is to provide a concise summary of , and identify the principal issues raised by, each case so that instructors can quickly decide which cases are most appropriate for their particular purposes. I included the listing of Key Facts for each case as a pedagogical tool. If instructors use a pure case method approach to teaching the cases in this text, they will likely want their students to identify the key facts of each case during the classroom discussion. Alternatively, to facilitate covering individual cases as quickly as possible, instructors may choose to use the Key Facts listing as an overhead template. [Note: The key facts for each case are also included in a PowerPoint file available on the Cengage Learning website for my casebook. Instructors can use those files to quickly cover the key facts for assigned cases in PowerPoint slide shows.] The Instructional Objectives section of each solution lists what I perceive to be the key learning objectives that an instructor will accomplish for each case. In addition to recommending at which point to incorporate individual cases in an auditing course, the Suggest ions for Use sections provide helpful hi nts regarding the issues to emphasize in Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. vii each case, strategies for focusing students’ attention on those vi issues, and other suggestions to enh ance the learning experience afforded by each case. Finally, the Suggested Solutions to Case Questions provide answers that I have personally written for each case question. Past experience suggests that many instructors will disagree with some of my an swers. Please recognize that the answers I provide are only suggested solutions. I am always more than happy to hear from instructors who can provide different viewpoints on the issues posed by the case questions. Historically, cases have not been utilized extensively in accounting curricula, particularly at the undergraduate level. Consequently, auditing instructors may not be familiar with pedagogical issues related to the use of cases. In fact, many auditing and accounting instructors may not use cases in their courses because of pedagogical concerns. To mitigate such concerns, I recommend that instructors refer to the following excellent source regarding the integration of case materials into accounting courses: J.E. Campbell and W.F. Le wis, "Using Cases in Accounting Courses," Issues in Accounting Education , Fall 1991, pp. 276 -283. Campbell and Lewis identify several different approaches available to accounting instructors for utilizing cases in their courses. As Campbell and Lewis point out, a pure case method approach is not required when using cases as instructional materials and, in fact, may not be appropriate in many instructional contexts. As an example, because of the severe time constraints posed by the amount of technica l material that must be covered in the undergraduate auditing course, I utilize one of two approaches in presenting my cases in that course. For certain cases, I require students to have read the case material and to have prepared written solutions to the case questions prior to class. During class, I focus exclusively on the case questions, calling on students randomly to obtain their views on the issues raised by the questions. For other cases, I typically use a modified case method approach in whi ch I serve as a moderator for an in -class discussion. I initiate this discussion by using one of several “launch strategies” that I have developed for my cases (see next paragraph). Generally, most of the issues posed by the case questions are adequately addressed by the completion of the class discussion. If not, any remaining issues raised by the case questions can be dealt with in fairly short order. The greater flexibility afforded by most graduate courses provides sufficient time to utilize a more conventional case method approach to presenting case materials. Campbell and Lewis note that as an instructor uses cases more extensively over a period of time, he or she will gradually develop an instructional mode for cases that is most "comfortable" fo r him or her. One of the biggest challenges that I have faced in using cases extensively in my courses is a simple one, namely, “getting started.” I have found that one way to keep students interested and focused in a case course is to use a variety o f different strategies for launching in -class discussions of cases. A sure recipe for quelling students’ interest is using the same “launch strategy” for each case. So, I would like to share with you a variety of different strategies or tactics that I hav e used to initiate in-class coverage or discussion of individual cases. As a point of information, many of these ideas are integrated into the Suggestions for Use sections included in the case solutions. As a caveat, some of these strategies are better s uited for certain cases than they are for others. In fact, some of these strategies, such as the role -playing suggestion, would not “work” at all for certain cases in this text. One more caveat: several of these strategies overlap to a degree. Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. viii 1. Open a class discussion with a “quickie” group project. For example, several of the cases in this text involve auditors who made poor judgments in responding to ethical dilemmas or other decision contexts. Give students 10 to 15 minutes to meet in groups. R equire each group to reach a consensus on the key mistakes made by the given auditor and to develop a list of alternative decisions that auditor could have or should have considered. Each group can then present and defend their conclusions. 2. Choos e two or more outgoing students to recreate a key event in a given case, an event that resulted in a face -to-face meeting of two or more individuals involved in the case. In this re -creation, allow the “actors” to change the outcome of that meeting. 3. Use a lottery of some type to choose students to answer specific case questions or to prompt them to participate in some other way in a case discussion. For example, I often write the number of each case question on a piece of paper and then insert those slips into envelopes. If there are seven questions and 12 students, five of the slips will be blank. Students randomly choose an envelope. “Winners” are required to answer the question they “selected.” To liven up this suggestion, you can convert it i nto a “Dirty Santa” type exercise in which students have the option of passing a tough or otherwise undesirable question to an unsuspecting classmate. 4. Ask individual students for a personal experience or anecdote relevant to the given case. 5. Use a handout that requires each class member to assign a numerical rating or ordinal ranking to some facet of the case. Examples of items that can be rated: ethical conduct of an individual involved in the given case, top three key facts or issues in the ca se, the jail term that should be or should have been assigned to a given scoundrel, students’ degree of confidence in a key but unsubstantiated assertion or allegation made by a party in the case, etc. Collect the individual ratings/rankings and either po st selected student responses on the board or post all of the measures to a “scorecard,” which you then copy and circulate. This is one of my favorite types of case -opening exercises. For whatever reason, students seem to really enjoy these exercises. M ore important, these exercises tend to trigger considerable discussion and interaction among students. 6. Begin a case by requiring individual students to respond to an open -ended prompt such as, “This case is important because . . .” or “The most impor tant thing I learned from this case was . . .” 7. Walk into your classroom, put your books down, single out a student, and inform that individual that he or she has exactly 60 seconds to provide a concise summary of the case to be discussed. 8. Ask stu dents to relate the case to a recent event highlighted in the front -page press or business press. 9. In a case that poses an ethical dilemma, begin the case by asking students to identify the decision alternatives that were available to the key individua l involved in that dilemma. After listing these alternatives on the board, take a poll to determine the alternatives that individual students would have selected. Have individual students defend their choice. 10. Choose a contentious issue in a given case and organize a three -group debate exercise. One group must defend one “side” of the given issue, the second group defends the other “side” of that issue, while the third group serves as the jury by voting on which group eventually prevails in the debate. Students in the first two groups will have to meet in Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. ix class or outside of class to develop their arguments. 11. Call on a few students and ask them, in turn, one of the following questions: “What’s missing from this case?” “What else did you want to kno w about the given company, individuals, or other features of the case that was not revealed?” Even for lengthy cases, students typically identify additional information that they would have liked to have had in analyzing the given issues or aspects of the case. 12. Ask individual students, in turn, to identify a key fact or issue in the given case —a time - honored, if not time -worn, strategy for opening a case discussion. 13. Begin a case with your own monologue or lecture highlighting the key issues or facts in the case. This is a strategy I seldom use. But, when “time is of the essence,” an instructor has to do what an instructor has to do. Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. x Suggested Syllabus for a Grad uate Auditing Course Modeled Around Contemporary Auditing: Real Issues and Cases The following syllabus is intended for a 15 -week, one -semester graduate auditing course with an enrollment of 10 to 35 students. At the University of Oklahoma, we refer to this course as Contemporary Auditing Issues. Most of the students in this course are enrolled in the Master of Accountancy program or in our dual Bachelor of Accountancy/Master of Accountancy five -year program. All of these stud ents have completed the undergraduate auditing course and are well versed in the "nuts and bolts" auditing issues. A set of cases that highlight a specific auditing issue or topic is presented during each module of the Contemporary Auditing Issues course. (Approximately one week is required to cover each module.) For instance, in Module 3, two cases requiring students to make extensive use of analytical procedures, Leslie Fay and Just for Feet , are discussed. Although analytical procedures are the focal topic of that module, each of those cases addresses several other auditing topics as well. You will notice that the “Interlude” segment between Modules 4 and 5 in the following syllabus refers to an "Audit Risk Analysis" project. This in -class proje ct is intended to help prepare students for a similar project that each of them will be required to complete individually. Early in the semester, each student is assigned a public company for which he or she will perform an extensive audit risk analysis. Each student is required to analyze the most recent financial data for his or her assigned company, which is typically obtained from the company's most recent annual report, the EDGAR web site, or any of several on -line financial databases. Students also obtain other pertinent financial and non-financial data regarding their assigned companies. These latter data would include information gleaned from articles appearing in the Wall Street Journal , major metropolitan newspapers, and various business public ations concerning the company or its industry; peer group data provided for the company's industry or sub -industry by such investment services as RMA, Dun & Bradstreet, Moody's, etc.; and financial disclosure documents filed with the SEC, such as 8 -K audit or change announcements. Each student is required to prepare a written report and make an oral presentation, accompanied by PowerPoint slides, describing the key audit risks posed by the company assigned to him or her. Typically, these reports begin wit h a historical overview of the given company and its industry. Next, students generally discuss the potentially problematic non -financial items that they identified for the assigned company, such as, a management compensation scheme tied to reported earni ngs, an upcoming merger, restrictive bond covenants, etc. Next, I suggest that the students present the results of the analytical procedures they applied to their company's financial data to identify “red flag” financial statement items . I require that t hese procedures be performed on both a longitudinal and cross -sectional basis. Students make use of trend analysis, common -sized financial statements, and key financial ratios prepared on a comparative basis for their assigned company and its peer group. Each student completes his or her 15 to 20 minute in -class presentation with a summary recommendation regarding whether the given company appears to be an acceptable audit client or, Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. xi alternatively, whether the company would pose an unacceptably high level of audit risk and/or business risk for an audit firm. The key purpose of the Audit Risk Analysis project is to require students to integrate and operationalize the important concepts and issues they have studied during the semester. Syllabus for Contemporary Auditing Issues Course Objectives 1. To discuss and analyze problematic situations that auditors have dealt with in the past so that students can obtain a better understanding of how to cope constructively with such scenarios in the future. 2. To enhance students' understanding of the fundamental technical concepts of the auditing discipline. 3. To increase students' awareness of the key ethical issues that accounting practitioners face and to acquaint them with key ethics models and ethical reasoning strategies. Text M.C. Knapp , Contemporary Auditing: Real Issues and Cases , Eleventh Edition ( Cengage Learning , 2017). Course Grades Course grades will be a function of the following items and their respect ive weights: Midterm Exam 20% Final Exam 35% Audit Risk Analysis Project 20% Class participation, including quizzes 25% Examinations The midterm and final examinations will consist primarily of short answer and essay questions. No make -up ex ams or quizzes will be given. If an exam or quiz is missed due to a university -excused absence, the points on that item will be added to the final. The comprehensive final exam will be given during the final class period of the semester. Quizzes & Class Participation This course is designed to be a seminar and thus requires the active participation of all enrolled students. Each class period we will discuss specific auditing cases. Students are expected to have Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. xii read each assigned case and be prepared to discuss the key concepts and issues raised by those cases. In addition, students are expected to be able to respond to the set of questions at the end of each case. On occasion, in -class, closed -book quizzes may be given on assigned cases prior to class discussion of those cases. Audit Risk Analysis Project During the first few weeks of the semester, each student will be assigned a public company for which he or she will complete an audit risk analysis project —no two students will be assigned the sam e company. Each student will assume the role of an audit manager of a public accounting firm who has been asked by an audit partner to assess the acceptability of the given company as an audit client and to write a memo summarizing this assessment. This is an "open -ended" assignment, which means that you can choose to structure your memorandum in any way you deem appropriate. However, at a minimum, your memorandum should cover the following points. 1. The memorandum should present a brief company profi le that comments on, among other items, the history of the firm, its major products, its principal officers, recent developments concerning the firm (such as a merger, planned merger, or new products or technological advancements), etc. 2. Of particular interest to the partner will be what some audit firms refer to as "key items." These are potential "hot spots" that may demand special attention during the course of the audit. Examples: existence of a management compensation plan (bonus scheme) tied to reported profits; a significant number of related parties and related -party transactions; new, high -risk projects/products; important technological advancements or changes in the company's industry; a significant increase in bad debts over the past year, e tc. 3. Somewhere within the memorandum you will need to discuss the apparent financial condition of the firm and highlight key financial ratios, such as, the current ratio, return on assets, inventory turnover, etc. In particular, you should bring to th e partner's attention the ratios and trends that may be indicative of the future prospects of the firm (good or bad). For instance, if the return on sales percentage has plummeted in recent years, that fact should probably be brought to the attention of t he partner (and, of course, you should provide some explanation as to why this sharp downturn has occurred). Both cross -sectional and longitudinal analyses will be appropriate. Additionally, tabular summaries and exhibits (graphs, pie charts, time -series charts, etc.) will be useful means to present quantitative data regarding the firm. 4. Finally, you should conclude your memo with a recommendation for the partner. For example, the recommendation may be that the firm appears to be an acceptable client although it does pose a fairly high level of audit risk and business risk, you may recommend that the company not be considered any further as an audit client, or your recommendation may be that more information is needed before an acceptance/rejection de cision is made. (If this latter conclusion is reached, you should identify the Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. xiii additional information you believe needs to be obtained before an acceptance/rejection decision can be made). Feel free to use all reference sources available in the library or online , such as, Disclosure, Dun & Bradstreet, Moody's, Robert Morris & Associates, Standard & Poor’s, Value Line, WSJ Index, etc., in preparing your memorandum. Those online sources that supply comparative industry data will be particularly helpful. For a discussion of other factors to consider when evaluating a potential client, refer to any undergraduate auditing text. I would expect that coverage of the above (minimum) items will require a memorandum of approximately six to eight pages doubled -spaced, not including all appropriate exhibits [maximum length = 10 pages (not including exhibits)]. Grading criteria: thoroughness, accuracy (in interpreting the given firm's factual data), coherent structure, conciseness, the degree to which your conclusio n is supported by your analysis, grammar , and neatness. Class Presentation and Discussion of Audit Risk Projects: During the final two weeks of the semester, each student will be required to make a 15-20 minute PowerPoint presentation regarding his or he r audit risk project. This presentation should provide an overview of the numbered items identified above and/or other appropriate information. Due Date: Students will turn in a copy of their type -written memo to the instructor at the beginning of the class in which they discuss their audit risk project. In addition to the type -written memo, students should provide the instructor with the file of information from which the financial data for their report was drawn (e.g., an annual report, peer group d ata, etc.). Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. xiv Tentative Class Schedule Module 1 Key Topic: Introduction/Icebreaker Cases: Enron , DHB Industries, Navistar Module 2 Key Topic: The Professional Roles of Independent Auditors Cases: Leigh Ann Walker, Bill DeBurger, Tommy O'Connell, Charles Tollison , Madison Wells, Tillman Rollins Module 3 Key Topic: Use of Analytical Procedures and Audit Planning Cases: Leslie Fay, Just for Feet Module 4 Key Topic: Auditing High -Risk Accounts Cases: Parker -Halsey (inventory), Take -Two (receivables), CBI (accounts payable), Golden Bear (revenues) , Ligand Pharmaceuticals (sales returns) Interlude: Subject: In-class Audit Risk Analysis project Cases: None Supplementary Most recent annual report of a public company and other pertinent Preface © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publ icly accessible website, in whole or in part. xv Material: data, including peer group data. Module 5 Key Topic: Social Issues and the Auditing Profession Cases: Sarah Russell , Olivia Thomas, Frank Coleman, Internet Infamy Module 6 Key Topic: Internal Control Issues Cases: Buranello’s, Goodner Brothers, Saks Fifth Avenue, Avon Products, Mid-Term Examination Module 7 Key Topic: Coping with Complex or Unique Client Transactions Cases: Lehman Brothers , Dell, Powder River, LocatePlus Ethics Models Module Key Topic: Principal ethical paradigms that underlie applied business ethics Key Topic: Discussion of the nature, content, and purpose of the AICPA Code of Professional Conduct Cases: None Module 8 Key Topic: Ethics : General Topics Cases: Zane Corbin, Suzette Washington, Wiley Jackson, Arvel Smart Module 9 Key Topic: Ethics and the Independent Auditor Cases: Richard Grimes , Le-Nature’s (Part II), IPOC, Cardillo