Evaluate what changes should be made to sarbanes-oxley act

Assignment Help Accounting Basics
Reference no: EM131182014

Assignment: Fraud in the Accounting Information System

Explain how the firm's accounting information system contributed to the fraud and / or embezzlement. You will need to focus on how each component / function of the accounting information system failed, which resulted in the scandal / case.

Write a ten to twelve page paper in which you:

1. Based on the information you researched, assess the failure of the firm's accounting information system to prevent the related fraud / embezzlement.

2. Imagine that the company that you researched uses a third-party accounting system. Evaluate the effectiveness of the firm's stakeholder in the event that a third-party accounting system suffers a breach. Include an assessment of the level of responsibility of the software provider to the business and its clients. Provide support for your rationale.

3. Determine what advances in accounting and / or information technology could have prevented the event from occurring. Provide support for your argument.

4. Evaluate what changes should be made to both the Sarbanes-Oxley Act of 2002 and other current laws in order to make them more effective in deterring companies from committing crimes.

5. Recommend a strategy that the company you indicated may use to prevent future business information failures. Indicate how the company should approach the implementation of your recommended strategy. Provide support for your recommendation.

Reference no: EM131182014

Questions Cloud

Explain recommendations for businesses to secure the system : Provide at least three recommendations for businesses to secure their systems and assets from hackers. Provide support for your recommendation.
Do you think that price regulation is a good policy : Think of another real-world example of a price floor or a price ceiling, not discussed in the text. Based on what you read in this section, as well as your own views, do you think that price regulation is a "good" policy?
Three hedging choices available to daikon co : Based on the three hedging choices available to Daikon Co and the initial assumptions given above, draft a response to the chief executive officer's (CEO) request made in the first paragraph of the question.
Is developing an asset financing plan : Christensen & Assoc. Is developing an asset financing plan. Christensen has $500,000 In current assets, of which 15% are permanent, and $700,000 in fixed assets. The current long-term rate is 11%, and the current short-term rate is 8.5%. If Christens..
Evaluate what changes should be made to sarbanes-oxley act : Evaluate what changes should be made to both the Sarbanes-Oxley Act of 2002 and other current laws in order to make them more effective in deterring companies from committing crimes.
How do you interpret the weight s for the two assets : A share has a beta of 1.4 and expected return of 16%.A risk free asset currently earns 6.25%If a portfolio of two assets has a beta of 2.80 what are the portfolio weights How do you interpret the weight s for the two assets in this case? Explain
Value of your retirement plan after : Assume that you contribute $380 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $760 per month for another 30 years. Given a 7 percent interest rate, what is the value of your retirement plan after th..
Evaluate whether the most significant failure occurred : Evaluate whether the most significant failure occurred within the system design, implementation, or operational phase of the process. Indicate what the company could have done to avoid the failed outcome.
About the return distributions : Consider the following table for the total annual returns for a given period of time. Series Average return Standard Deviation Large-company stocks 11.7 % 20.6 % Small-company stocks 16.4 33.0 Long-term corporate bonds 6.3 9.6 Long-term government bo..

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Immediately prior to this transaction the corporation had

beta corporation purchased 110000 worth of land by paying 11000 cash and signing a 99000 mortgage. immediately prior to

  Fight-or-flight response

Give an example of your use of the fight-or-flight response. In that situation, all things considered, was your response effective or ineffective?

  Stockholders equity section of the company balance sheet

Prepare the stockholders' equity section of the company's balance sheet at the end of the current year.

  Workshop on natural resources and intangible assets

The CEO attended a workshop on natural resources and intangible assets. He was confused on the difference between these two types of assets and how to write-off the cost of these assets.

  Five steps of hypothesis testing

A researcher plans a study in which a crucial step is offering participants a food reward. It is important that the three food rewards be equal in appeal. Thus, a prestudy was designed in which participants were asked which of the rewards they pre..

  On january 1 2011 club company issued 10 bonds dated

on january 1 2011 club company issued 10 bonds dated january 1 2011 with face amount of 20 million. the bonds matue in

  Learning objectives obj 2 please prepare a statement of

learning objectives obj. 2 please prepare a statement of cash flows using the indirect method. statement of cash

  A 10-year service agreement with quality maintenance

on january 1 2013 nrc credit corporation leased equipment to brand services under a direct financing lease designed to

  Adjusting entry to record accrued interest

Farmer Corporation borrowed $280,000 on November 1, 2009. The note carried a 10 percent interest rate with the principal and interest payable on June 1, 2010. Prepare the journal entry to record the note on November. Prepare the adjusting entry to..

  Straight line method used for depreciation

Straight line method used for depreciation.

  Multiple-deliverable arrangement of apple core

Apple Core is an experienced technology retailer. Apple Core also offers a number of services together with the electronic items that it sells.

  Needed reporting for defined contribution

Explains the required reporting for defined contribution, defined benefit, and other postretirement plans. Also include an explanation of what must happen in order for the two segments to be eliminated.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd