Discussion 1

What is the danger from an ethical perspective of having a CPA firm that conducts the audit of a public company to also engage in consulting for installation of a new financial information system? What about giving tax advice to an audit client? What are the possible ethical dangers of having the tax practitioners at a CPA firm that audits a client entity prepare the tax return for members of management of the client who have a financial reporting oversight role?

Discussion 2

Can a CPA be independent without being objective? Why or why not? Can a CPA be objective without being independent? Why or why not? Does your answer matter assuming you only provide only non-auditing services to the client? What if you provide both audit and non-auditing services?