At the beginning of the solution to each of the questions, additional suggested readings are provided (in parenthesis) that may assist students. The course instructor can decide whether to disclose these additional reading materials. Full citations for these papers are shown at the conclusion of the Solutions manual. These answers are for possible use by instructors only. Students should not have access to them under any circumstances.

American Institute of Certified Public Accountants [AICPA]. 2012a. Consideration of Fraud in a Financial Statement Audit. AU-C Section 240;

Public Company Accounting Oversight Board [PCAOB]. 2010b. Identifying and Assessing Risks of Material Misstatement. Auditing Standard No. 12.

According to Jeremy Bentham (Driver 2009), the Utilitarian motto is “greatest good for the greatest number.” The utilitarian ethics require us to consider the consequences of our actions. We are asked to look beyond our self-interest and consider the interests...

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