ACC 260 Week 9 Final Project Solving Ethical Dilemmas in the Accounting Profession

Apr 10th, 2015
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Daniel Potter an employee of Baker Greenleaf, a big eight accounting firm, was designated to the team that was to audit a very significant account for Baker Greenleaf. This account was one that Baker Greenleaf had looked forward to having because they had been given the opportunity to provide an honest, expert assessment for this account solely, instead of sharing this account with another accounting firm.Oliver Freeman, the project senior, assigned Daniel Potter to perform the audit on a solely owned real estate subsidiary, which had caused problems for the Baker Greenleaf firm in the past. Daniel had been given thirty days to audit this account and provide it with an assessment. After a while it had become obvious that working with Oliver Freeman was hard and that Mr. Freeman had his own way of doing things and did not like to accept change.Mr. Potter had revealed a number of issues with this subsidiary; Daniel was able to correct all the problems except one. That problem is that one of the subsidiary's real estate properties is valued on the balance sheet at two million dollars; whereas the estimate of the property from Daniel Potters only comes to one hundred thousand dollars. This property that is supposedly worth two million dollars by the client is actually an old, run down, unoccupied structure in an undesirable neighborhood. Mr. Potter discussed in detail with the subsidiary's managers to lower the properties value by one million nine hundred thousand dollars,

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