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Scorpion4ik [409]
2 years ago
6

Justin, a member, has been in public practice for 25 years. His firm does bookkeeping and financial statements for approximately

50 business clients and prepares approximately 75 business tax returns and 200 personal tax returns. Justin's firm has never had a malpractice claim. Justin is contemplating retirement and wants to sell his accounting practice. He has hired a professional practice sales firm to help him identify potential buyers and assist in the practice sale. What is Justin's firm required to do to protect its client's confidential information in this type of situation?
A) Justin's firm must receive written permission from each of his clients before disclosing any client confidential information to a prospective buyer.
B) Justin's firm is not allowed to disclose any client confidential information to a prospective buyer and thus the potential buyer must rely exclusively on representations made by Justin's firm.
C) A review of a member's accounting practice pursuant to a potential sale is allowed if the member takes appropriate precautions (such as a written agreement) so that the prospective buyer does not disclose any client confidential information obtained during his review of the practice.
D) None of the above
Business
1 answer:
Shkiper50 [21]2 years ago
6 0

What Justin must do to protect his clients' confidential information is to allow a review of a member's accounting practice in accordance with a potential sale if the member takes appropriate precautions (option C).

<h3>What is confidential information? </h3>

Confidential information is a type of information that includes the personal data and other personal information of a person. This type of information is of high importance so it cannot be disclosed without the express consent of its owner. Additionally, this information never loses the characteristic of being confidential so it is not conditioned or limited to a term or time.

According to the above, Justin must be very careful with the information he has in his company since he cannot sell all the information because a percentage of that information is confidential and cannot be transferred without the consent of the owner of that information.

Therefore, Justin will only allow access to non-confidential information by making the potential buyer agree not to disclose confidential information that he may find in his study.

Learn more about information in: brainly.com/question/1100011

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Clarifying Culture: Did Johnson clarify his values and the company’s values in his apology and with his subsequent actions? Did
Mashutka [201]

With the apology of Mr. Johnson, he showed that the actions of the police were wrong and did not reflect company values.

<h3>What are Company Values? </h3>

This refers to the set of ethics that a company has and abides by that helps them keep discipline among staff and achieve their set goals.

Hence, we can see that from the complete information, there is a scandal at Starbucks where two black men have led away from the premises because of their race.

The CEO of Starbucks, Mr. Kevin Johnson immediately apologized and stated that the action was unfortunate and did not in any way reflect the company values of Starbucks as everyone was welcome.

Read more about company values here:

brainly.com/question/24553900

#SPJ1

7 0
1 year ago
what a successful entrepreneur's profile is and to determine whether your personal characteristics fit that profile. I
ANTONII [103]

Answer:

Explanation:

A successful entrepreneur’s profile is characterized of the following:  

1) Self-control: this is the belief that you can do a certain job better than others in the most accountable and responsible manner.

2) Self-confidence: it refers to the never-ending spirit of urgency to develop ideas

3) Realism: it refers to the acceptance of the things as they occur and dealing with them cautiously.  

4) Conceptual capability: it refers to an entrepreneur’s ability to recognize relationships swiftly even in the midst of difficult situations.  

5) Comprehensive awareness: it refers to the ability to understand complicated situations through planning, strategic decision making, and pursuing multiple business ideas concurrently.  

7 0
3 years ago
All of the following are considered examples of disreputable conduct for which a CPA can be disbarred or suspended except Direct
ivann1987 [24]

Answer:

Failure to timely pay personal income taxes.

Explanation:

Rules of Conduct

This is simply said to be a full stated guidance to aim to help an auditor in applying broad principles contained in AICPA's Code of Professional Conduct

These Disreputable conduct if commited by an attorney, certified public accountant, or enrolled practitioner, it can therefore lead to them being disbarred or suspended from practice before the Bureau.

Rules sometimes do changes over time due to the fact that members of profession encountered specific ethical dilemmas in complying with the principles of the code

There are 6 Principles of the AICPA Code of Professional Conduct. They cover:

1. Responsibilities

2. The Public Interest

3. Integrity

4. Objectivity

5. Due Care

6. Scope and Nature of Services

The disreputable conduct for which a CPA can be disbarred or suspended includes the following;

1. When they Directly or indirectly attempting to influence the official action of any employee of the Internal Revenue Service by use of threats or false accusations or by bestowing any gift, favor, or thing of value.

2. Knowingly aiding and abetting another person to practice before the Internal Revenue Service during a period of suspension or disbarment.

6 0
2 years ago
Chuck has $2,500 invested in a bank that pays 4% annually. The length of time it will take for his funds to double is closest to
Arada [10]

Answer:

The answer is 17.67 years.

Explanation:

Present value is $2,500

Future value of the money to be double of the present value. This means the future value will be $5,000($2,500 x 2)

Interest rate is 4%

Number of years or periods to reach this $5,000 is unknown. So we are looking for this.

To compute this number of periods, lets use Financial calculator.

I/Y = 4; PV= -2,500; FV= 5,000; CPT N= 17.67 years.

Therefore, the number of years to accumulate to $5,000 is 17.67 years

7 0
3 years ago
Mikhail's claim has been denied once. Now, he is writing a second persuasive claim message to his digital media services company
Fynjy0 [20]

Answer:

a) Appeal to the receiver's sense of responsibility and pride in the company's good name

Explanation:

Persuasive messages refer to communicating an idea so as to persuade the recipient towards an action.

Such messages are usually drafted by sales and marketing personnel.

While drafting a persuasive message, AIDA (Attention, interest, desire and action) principle is usually followed by the marketers.

In the given case, Mikhail's claim has already been denied once and he is drafting the second persuasive message. As he expects resistance from the media company, he should draw the attention of the recipient towards their own responsibilities and duties and pride relating to the good reputation of the company.

He may choose to express, what the receiver's responsibility and duties are and how non performance of those puts the company's reputation (pride) at stake.

8 0
3 years ago
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