Brad Shoreman is a drummer in a band based out of Southern Ontario

Brad Shoreman is a drummer in a band based out of Southern Ontario. He asks you to help him with his personal tax return. He believes that any cash “gigs” should not be included in his personal income because they are not traceable and the government gets enough of his money. You like their music and enjoy the free tickets supplied to you. What will you do when he demands that this revenue not be Included?

1. Define the dilemma or problem.

2. List the facts including the stakeholders affected.

3. List your options or alternatives.

There is room for 4 options. You may have more or less than 4. Adjust the graphic organizer as required.

4. Evaluate and test each option:

Is it legal?

Does it meet the ICAO standards of professional conduct? If not, which one does it violate?

Does it adhere to GAAP?

Is it right?

5. Select an option.

6. Reflection. What would others close to me think out about my decision? How will the Institute of Chartered Accountants react to my decision?

7. If uncomfortable with your decision, then your moral conscience is talking to you. You need to go back and select another option.