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

  July 17 2014 billy prater borrowed 58500 from his

july 17 2014 billy prater borrowed 58500 from his grandfather to open a clothing store. starting july 17 2020 billy has

  Price comparisons on competing airlines

You are employed by Sunshine Airlines and your boss has asked you to do some price comparisons on competing airlines. Once you gather the data, you are required to prepare a business memo to your boss, Mr. Smith, with your findings.

  On june 30 after all monthly postings had been completed

donahue company uses both special journals and a general journal as described in this chapter. on june 30 after all

  What is the total interest revenuefrom these bonds that

nilani company purchased 100 arapaho company bonds on april 12007. the bonds pay interest semiannually on march 31 and

  What would be the loss accrual

Sue Co. has a probable loss that can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The loss accrual should be:

  Alpine consulting is a consulting firm owned and operated

Alpine Consulting is a consulting firm owned and operated by Scott Young. The end-of- period spreadsheet (work sheet) shown below was prepared for the year ended March 31, 2010.

  Jen and berrys currently sells

How many pints must be sold in a month at the breakeven point?

  Fund balance of a governmental fund

Which of the following will require a credit to Fund Balance of a governmental fund when closing entries are prepared?

  Assume that wallywill inc offered its customers which are

assume that wallywill inc. offered its customers which are primarily retail stores who sell its products an advertising

  Everly corporation acquires a coal mine at a cost of 479200

everly corporation acquires a coal mine at a cost of 479200. intangible development costs total 119800. after

  .Prepare the necessary adjusting entries

1.Prepare the necessary adjusting entries at December 31 for each of the items listed in BE 24. Depreciation on the equipment is $12,000 per year.

  Benefit most when the prison system

After reading the two articles addressing privatization, Arizona's private prisons: A bad bargain and The case for privatizing California's prisons, respond to each of the following questions:

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