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1. Kalpan university AC 502 Unit 6 Final Project
Accountant Responsibility NEW
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In the first part of the course project, you were
asked to evaluate current levels of regulation
from a perspective of efficiency. In this second
part of the course project, you are going to
evaluate current levels of regulation from the
perspective of accountant responsibility. There
are four major parts to this paper:
1) Begin with an introduction to accountant
responsibility. Accountants have a responsibility
to three major parties: their clients, third parties,
and the government. Discuss these three parties

2. in detail, and outline the various responsibilities
that the accountant has to each.
2) Search the Internet (www.sec.gov is a great
resource) for actions that have been brought
against accountants or accounting firms. Select an
action/claim that relates to each of the three
parties discussed in part 1 of the paper, and
summarize the details. For each of the three
actions/claims, identify which act or law was
broken by the accountant and how.
3) As discussed in this unit, there is a limited
accounting-client privilege. Currently, this
privilege applies only to civil cases brought by the
IRS or U.S. government. Should the accounting-
client privilege be expanded (as it is in law and
medical fields)? Why or why not? If the
accounting- client privilege were to be expanded,
how would that affect the accountant's
whistleblowing responsibility?
4) Conclude your paper with a discussion of
priority. Accountants are liable to a variety of

3. individuals/groups: clients, government,
shareholders, community, etc. What or who
should take priority? Obviously, accountants have
a responsibility to obey the law, but where does
priority lie beyond the rules and regulations? For
example, consider a situation in which a company
has organized their books in a way that does not
technically break the law, but that could be
confusing to investors/shareholders. A scenario
such as this involves each of the three major
parties to which the accountant is liable. Find a
real-life example to support your conclusion.