Accounting Ethics Dilemma's. Accounting, Finance, SPSS Essay

Accounting Ethics Dilemma
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Dilemma 1
A client has hired a CPA to perform audits according to the generally accepted auditing standards. One of the core responsibilities of the CPA is to employ a chief accounting officer for the new branch. In this case, the issue is how to recruit the right chief auditing officer and how to make the wise decision, and the ethical concern is whether the CPA should provide his services to a private client or not. In case the CPA is going to accept the job offer, he should take into account the standards maintained by his employer and need not favor anyone or go with the quota system. According to ET Section 101 Independence, as quoted by Gianluca Mattarocci in his article titled The Economic Independence of Rating Agencies, no person working in the public sector can serve private clients and is required to continue working for the government organization as per the standards maintained by the officials (Mattarocci, 2014, p. 102).
One of the major concerns is whether he would be able to serve in both public and private sectors without compromising on quality or not. If the CPA assures that he will manage both of the works simultaneously and the overall performance will not be lowered than the required level, then he might be able to get permission by the government to serve a private client. During his job, if the performance of the CPA gets impacted, he might be asked to quit on the private sector job as soon as possible. If he does not do so, then he is likely to be penalized or fired as per the ET Section 191. He may not get paid for the projects he has undertaken so far and left incomplete. It is his responsibility to either manage both of the jobs proficiently or quit on the private job as soon as possible (Mattarocci, 2014).
Dilemma ...