Review Case 5-2 ZZZZ Best
Respond to the following:
Yellow Group Question
Do you believe that auditors should be held liable for failing to discover fraud in situations such as ZZZZ Best where top management goes to great lengths to fool the auditors? Why or why not? Examine Ernst & Whinney’s record and provide expert support for your finding and or not finding fraud.
The AICPA Code obligates CPAs to follow specific standards of conduct in carrying out audits. Answer the following questions with respect to those standards and the related ethical expectations.