Why should any potential conflicts of interest be identified before accepting an engagement?
What will be an ideal response?
A conflict of interest is defined as a real or perceived incompatibility between the interests of two clients or between the interests of the client and the forensic accountant (or firm). Key considerations in this regard are impaired objectivity and independence. Objectivity requires the forensic accountant to be neutral (unbiased) and intellectually honest, while independence precludes the acceptance of any engagement that impairs the forensic accountant's objectivity.
In addition to specialized knowledge and skills, a forensic accountant's calling cards are independence, integrity, and objectivity. An allegation of a conflict, whether real or perceived, may serve to undermine an expert's credibility.
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Corporate officers have the implied powers to bind the corporation in matters directly connected w/ the ___________________ affairs of the enterprise unless it will greatly affect the corporate purpose or undertaking, such as the sale of substantial corporate assets.
Fill in the blank(s) with the appropriate word(s).
The action of strikers walking in front of an employer's premises, carrying signs announcing their strike is known as ________
A) occupying B) picketing C) employee lockout D) outcry