• 7 minutes

Financial Statement Audits - Advocacy and Familiarity Ethical Threats


Don’t let this type of threat wreak havoc on your audit.

Due to elevated competition in financial statement audits, some public accounting firms are faced with the balancing act of keeping clients happy while maintaining profits. This may put firms in a position of reducing staff in order to meet bank covenants or bonus promises. In thriving times, it may not be an issue but when companies face a difficult period greed can cross ethical boundaries. This video reviews advocacy and familiarity ethical threats and offers real life examples.

Runtime: 7 minutes



Michael J. Stevenson, CPA, CFE, CFF, ABV

Michael J. Stevenson, CPA, CFE, CFF, ABV

Blue & Co., LLC

  • Head of Business Valuation and Forensic Accounting at Blue & Co., LLC
  • Concentrates time performing litigation advisory services, forensic accounting, and expert witness testimony for matters related to business valuations, damages, lost profits, contract disputes, marital dissolution, quality of earnings analysis, and related matters
  • Certified Public Accountant, Certified Fraud Examiner, Certified in Financial Forensics, and Accredited in Business Valuation, with over 30 years of experience and responsibilities in financial and corporate management, primarily in the retail industry
  • Has experience in many industries including, but not limited to, retail, food service, distribution, financial services, construction, health care, manufacturing, franchises, insurance, transportation, and e-commerce
  • Licenses, memberships, and leadership positions in the American Institute of Certified Public Accountants, Ohio Society of Certified Public Accountants, and Association of Certified Fraud Examiners, and National Kidney Foundation Board of Directors – Regional President, National Board Member
  • Master’s degree in accounting, The Ohio State University; B.S.B.A. degree with a concentration in finance, The Ohio State University

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