Professional Responsibilities

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QUESTION
Part 1.
 
“As professionals, CPAs perform an essential role in society. They are responsible to all those who use their professional services. They also have a continuing responsibility to improve the art of accounting, maintain the public’s confidence, and carry out the profession’s special responsibilities for self-governance. The collective efforts of all members are required to maintain and enhance the traditions of the profession.” (Robert H. Colson, Ph.D. CPA, 2003,http://www.nysscpa.org/cpajournal/2004/104/text/p80.htm).
 
The Code of Professional Conduct is a set of rules and principles used to guide the practices of professional accountants. While all CPAs must follow the code of professional conduct, a CPAs role and responsibilities can be different depending on the company.
 

Select a company that is of interest to you, (different from Ford or Enron). The company must provide published annual reports on their website in order for you to research the role of the CPA within the company.

 
With these thoughts in mind, respond to the following (200-250words)
 

Assuming the role of a CPA, explain the professional responsibilities associated with that role under SAS and also under the SEC Act that governs the company’s financial reporting. If you were the client, would the responsibilities be the same?

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