Auditing Discussion

Ethics plays a major role in the auditing process and profession. Discuss the ethical theories that can be utilized to deal with issues that can arise during the audit process. Address the following topics:

• Explain how you could establish a framework using these theories to support an audit.

• Highlight the key principles of the American Institute of CPAs (AICPA's) Rules of Conduct.

• Compare and contrast their rules against the rules used in international audits under the International Ethics Standards Board for Accountants (IESBA).

• What does independence mean in an auditing context?

o Compare and contrast in fact and in appearance, and illustrate their differences.