BANK OF BUSINESS SOLUTIONS – QUESTIONS  In preparing a report for your supervisor at Bank of Business Solutions, incorporate answers to the questions below. Q. 1. Did Peter Nelson, LLP owe a d

BANK OF BUSINESS SOLUTIONS – QUESTIONS

In preparing a report for your supervisor at Bank of Business Solutions, incorporate answers to the questions below.

Q. 1.     Did Peter Nelson, LLP owe a duty of care to the Bank of Business Solutions?

Q. 2      In this case, there were many people who had to deal with ethical issues.  Analyze the issues faced by Daniel Riley, Kevin Clark, and Sylvia Lopez, and indicate the following for each:

a.     Were their actions ethical?  In each case indicate which principle or test of ethics you are applying to determine your answer.

b.     Indicate whether you think their actions were justified or not given the circumstances they were faced with.

(You may want to review section 53.01 of the AICPA Code of Professional Ethics.  You can visit the AICPA website at http://www.aicpa.org/about/code/index.htm.)