ACC 562 Complete Course Click below link for Answer visit www.workbank247.com http://workbank247.com/q/acc-562-complete-course-week-1-to-week-11/8378 http://workbank247.com/q/acc-562-complete-course-week-1-to-week-11/8378 ACC 562 Week 1 Discussion "Unbiased Reporting" Please respond to the following: • Analyze the need for unbiased financial reporting. Based on your analysis, determine at least two (2) drivers that may cause financial reporting to be biased. Provide a rationale to support your response. • Analyze the audit opinion formulation process and suggest at least one (1) improvement to the process to strengthen audit opinions. Provide a rationale to support your suggestion. ACC 562 Week 2 Discussion "Topic of Discussion" …show more content…
Write a four to five (4-5) page paper in which you: 1. Determine the regulatory oversight that was in place while the Ponzi scheme was operating, and speculate on the main reasons why they did not discover the scheme. 2. Assume you are an auditor for a firm that had $10 million dollars invested in Madoff Securities. 3. Determine the fundamental audit procedures that you should have applied to this investment. 4. Predict the way in which a peer review of Friehling and Horowitz would have uncovered the scheme related to Madoff Securities. 5. Pretend you are Harry Markopolos and suggest one (1) strategy, different from that of the case study, to expose the potential fraud. Provide a rationale to support the suggestion. 6. Analyze the role of the audit committee for Madoff Securities in regard to the discovery of Ponzi scheme, and suggest one (1) action the audit committee could have taken in order to prevent or detect the fraud. Provide a rationale to support the suggestion. 7. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and similar type Websites do not qualify as academic resources. Your assignment must follow these formatting requirements: * Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific
Read the David Miller case from Chapter 5. After reading the case, describe a reason why someone who has been entrusted with the firm’s assets would commit a fraudulent act against the company. Based upon your understanding of the case and your professional and personal experience, recommend a series of actions that should have been taken in order to pre
2. Describe various false journal entries that Smith and Jones could have used to cover up the $34 million theft of cash over 12 years.
Since its inception, the PCAOB has been criticized by many parties. Summarize the principal complaints that have been directed at the PCAOB. Do you believe this criticism is justified? Explain. What measures could the PCAOB take to improve its effectiveness as a regulatory body?
While APA format is not required for the body of this assignment, solid academic writing is expected and in-text citations and references should be presented using APA documentation guidelines, which can be found in the APA Style Guide,
Write an 8 to 10 page Case Analysis of the following article (which can be found in the Ashford Online ProQuest database):
What is right or wrong? People base their values of right and wrong on what they have learned from their experiences (Ferrell, Fraedrich, & Ferrell, 2018). What one person sees as wrong, may be a normal for another. Most people are taught to work hard, save money, and invest for a future retirement. However, when it comes to money, some people lose all principles and standards of behavior. There were several ethical issues in the Madoff case. They include: stealing, cheating, lying, misrepresentation, and deliberate deception. Madoff used the Ponzi scheme or the money pyramid to make his money. In the Ponzi scheme, money was taken from new investors and given to existing customers as earning without being invested. Was this right or wrong? Throughout this case study ethical concerns can be seen on both sides, the investors and Madoff’s.
Bernie Madoff was one of the most prolific Ponzi-scheme artists in history. Madoff schemes netted him millions of dollars. Mr. Madoff used his BMIS Bernard L. Madoff Investment Securities a New York Limited Liability company, to commit fraud, money laundering, and perjury. This is just a few things that Mr. Bernard Madoff has done to many innocent investors, who believed in Mr. Madoff, and everything he stated. Due to Mr. Madoff’s action he has changed so many people’s lives. Some have lost everything, some committed suicide, and others just humiliated by Mr. Madoff. This paper is to tell you about Mr.
While GCU style format is not required for the body of this assignment, solid academic writing is expected and in-text citations
Q8: Write a report that outlines the information you have gathered and any recommendations you would make as a result.
2. 10% of a total asset of a large investment firm is material and really great in amount. An independent auditor has a responsibility of exercising professional skepticism. The smooth flow of Madoff stock exchange should not imply integrity over the firm’s operations, so the auditor’s should maintain a questioning mind especially in dealing with that 10% investment. The independent auditors should thoroughly understand the operations of Madoff and check the competence of those who are currently auditing the company to obtain reasonable assurance that Madoff’s operation is free from anomalies. If possible, the independent auditors should investigate recorded complaints against Madoff operations and determine how it would affect the investment of the investment firm.
Your assignment is to be not more than 8 pages double spaced using Time Roman 12 point font. It is to have an introduction and conclusion. You must include reference to the course readings or sources outside the course that you have consulted in preparation for this assignment. Be sure to properly cite your references and to provide a reference list following the conclusion to the essay. Make liberal use of section and sub-section headings in the structure of the
Many high profile individuals were swindled such as Kevin Bacon and Steven Spielberg. However, it is important to determine the key players in this scheme as it will show the extent of Madoff’s planning, execution, and the overall extent of his fraud. Madoff himself is, of course, the primary player in this scheme. There were also members of his family that either directly helped him perpetrate this fraud, were involved directly themselves, knew about his scheme, or suspected his shady dealings. Besides his family, other business and investors were key players involved in his scam and helped by providing feeder funds to his firm. Determining involvement will be done in three stages. First, second, and third party involvement will be determined by the primary individual, then any key secondary parties involved, and last will be the separate or third parties involved.
Bernie Madoff ran the biggest in the history of the world. The details surrounding the case and the events that were kept secret are the stuff in movies. With all of the regulations, rules, laws, checks and balances the Madoff scam inflated to massive proportions before popping. The scheme as complicated as it was
Operated through a complex, cryptic structure Bernie Madoff, CEO of Bernie L. Madoff Investment Securities (BMIS), perpetuated the most embellished Ponzi scheme the world has ever seen. The basis of the securities fraud that took place approximately between 1991 – 2008 was influenced by Bernie Madoff’s reliance upon an unqualified staff, outdated software, organizational seclusion, a personal halo effect, and weaknesses in the regulating body. Madoff had the confidence of the public, yet to pull off such an elaborate scheme, he relied on a startling number of family members, vital accomplices working on the illegal trading floor such as Frank D. Pascali, IT staff members, and a separate BMIS branch of international employees
2. What measures can and should be taken to make it easier for corporate employees to ‘‘blow the whistle’’ on a fraudulent scheme they uncovered within the firm?