Illustrative Situations Faced by Professional Accountants

All professional accountants should comply with the ISCA Code of Professional Conduct and Ethics (ISCA Code).

The following case studies provide you illustrative situations or dilemmas faced by professional accountants with practical application, guidance and references to the ISCA Code.

Professional Accountants in Public Practice
Case StudyTitle
Case Study 1Threats and Safeguards - Self Review Threat
Case Study 2Client Acceptance and Professional Clearance
Case Study 3What Impact Does a Company's Non-Payment of Taxes have on the Audit?
Case Study 4Is the Client Telling the Full Story - Going Concern Considerations
Case Study 5Qualification of Audit Opinion
Case Study 6Potential Conflict Between Contingent Fee and Professional Judgement
Case Study 7Can Bids for Assets Sold by Companies Undergoing Liquidation be Disclosed to Other Prospective Buyers Before Bidding Closes?
Case Study 8Can Time Costs for Audit Engagements be Transferred Across Different Clients?
Professional Accountants in Business
Case Study Title
Case Study 9How to Deal with Incentives and Inducements Offered by Suppliers?
Case Study 10Disclosing All Relevant Information to the Auditor
Case Study 11Potential Earnings Management
Case Study 12Implications of Cost Savings on Compliance
Case Study 13Overpayment by Customers
Case Study 14Matters to be Considered before Accepting a Non-Executive Director Appointment
Case Study 15After-Effects of Rushed Acquisition
Case Study 16Possible Undisclosed Conflict of Interests
Case Study 17Possible Acquisition Not Subject to Sufficient Due Diligence
Case Study 18Potential Inappropriate Treatment of Project Costs
Case Study 19Potential Weakness in Business Payments System
Case Study 20Potential Transfer of Raw Material Supplies to an Overseas Supplier in a Politically Unstable Environment 
Case Study 21Unknown Receipt of Personal Benefits
Case Study 22Possible Fraudulent Accounting
Case Study 23Can the Non-Payment of Taxes be Ignored?