Effective Writing 10th Edition by Claire May,Gordon May

Exercise 8

Some have suggested eliminating the provision of Rule 203 of the AICPA's professional ethics that permits non-conformance with GAAP if, in the opinion of the CPA, following GAAP would result in misleading financial statements. Thoroughly discuss the pros and cons of eliminating this provision of Rule 203 and present a convincing argument as to whether it should or should not be eliminated.
Prepare your argument in the form of a memo to the managing partner of your CPA firm, Elaine Morgan. Chapter 10 discusses memos.