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(a) Mary is an accountant who runs her own accountancy practice and employs five auditors....

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(a) Mary is an accountant who runs her own accountancy practice and employs five auditors. She has become friends with the finance director of one of her clients. In addition, 70% of the practice fees relate to work for another of her clients. Discuss the ethical dilemmas that Mary may face. (6 marks) (b) What is Current Purchasing Power (CPP) accounting and why does the monetary capital adjustment arise under this method? 7marks) (a) Mary is an accountant who runs her own accountancy practice and employs five auditors. She has become friends with the finance director of one of her clients. In addition, 70% of the practice fees relate to work for another of her clients. Discuss the ethical dilemmas that Mary may face. (6 marks) (b) What is Current Purchasing Power (CPP) accounting and why does the monetary capital adjustment arise under this method? 7marks)

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