The following represent independent audit scenarios highlighting ethical situations: 1. A new non-audit client of Samuel Prescod, auditor, is seeking business valuation services from him. Prescod is aware of the potential value-adding opportunity this could bring for his client as well as his business reputation. As such, he hires an expert/consultant to facilitate the valuation services as he has no prior experience. 2. Wyvern Inc., the audit client of Stanford Sealy, has suffered significant cash shortages during the financial year under audit. Management does not wish this to be disclosed in the financial statements; however, Sealy has informed client management that this is a required disclosure under generally accepted accounting principles. After management still refuses the disclosure to be made, Stanford had still opted to include the disclosure in the draft financial statements and present to the Board of Directors without management's permission. 3. Your audit client has expressed his verbal gratitude for all the hard work done to accomplish the audit within the agreed-upon timeline, and has also expressed gratitude by offering free lifetime movie passes to everyone in your firm. You have accepted the client's kind gesture. You are the partner of a small-sized local firm. 4. During the Acceptance stage of taking on a new attest client, it comes to light that the Marketing Director is the mother of a senior audit team member of the potential engagement. With this information in mind, the audit firm still accepts the client. 5. Charles Co., a new client, is seeking the assistance of Pyrex Standard, audit firm, in providing taxation services only. Charles Co. is not only a public company but is also the subsidiary of a U.S. multinational company and must abide by their laws and guidelines in practice, inclusive of SEC and PCAOB legislation. Standard accepts the engagement. Required: For each audit scenario, state either "Yes - violation occurred" if you believe a violation of the AICPA Code of Professional Conduct occurred, or "No violation occurred" if you believe there was no breach of the AICPA Code of Professional Conduct.