DQ 1 – Assume you are a CPA and the controller of a Fortune 500 company. On January 2, 2011, your boss, the CFO, comes into your office to discuss the recording of revenue on a shipment of product received by the customer on that day. Your boss hands you the sales invoice that reflects F.O.B. Destination terms and tells you to backdate the document for the $20 million shipment to December 30, 2010. What ethical issues should you consider in deciding whether to agree to the request? What provisions of the AICPA Code are relevant to your decision? What would you do and why?
DQ 2 – Distinguish between the circumstances when an auditor might give an unqualified opinion with an explanatory paragraph, a qualified opinion, and an adverse opinion. Do you think a disclaimer is an acceptable substitute for a qualified or adverse opinion? Why or why not?
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