Whether the act could have or did detect the fraud

Assignment Help Accounting Basics

Reference no: EM13994650

We generally only hear of scandal and material control weakness impacting public companies through our traditional media outlets. Evaluation of internal controls is just as important in privately held companies and small businesses. Research internal controls using the textbook, the Argosy University online library resources, and the Internet. Respond to the following:

Explain how the understanding of internal control for a public company differs from that for a private entity in accordance with Generally Accepted Auditing Standards, (GAAS).

Find an article or a news story that discusses a fraud involving a weakness in control in a nonpublic company or small business. Give complete citation for the article. Summarize the article and discuss the weakness in control you believe led to the scandal or fraud.

The Sarbanes-Oxley Act is the major act created as a response to failures such as Enron and it regulates many aspects of a company and its controls. Depending on whether your selected example occurred before or after SOX, discuss whether the act could have or did detect the fraud.

Reference no: EM13994650

Questions Cloud

Software engineering belongs to computer science : Which of these is incorrect ? a) Software engineering belongs to Computer science. b) Software engineering is a part of more general form of System Engineering.

What does it mean to be a contrarian investor : What does it mean to be a contrarian investor? How would a contrarian investor use technical analysis? Post your answers to the discussion board

A part of software processes : Which of these software engineering activities are not a part of software processes ? a) Software dependence. b) Software development.

About the elasticity of the demand curve of gasoline : If the government were to increase taxes on gasoline, what will happen to the total government revenue? Why? What are you assuming about the elasticity of the demand curve of gasoline? What is the formula for elasticity?

Whether the act could have or did detect the fraud : The Sarbanes-Oxley Act is the major act created as a response to failures such as Enron and it regulates many aspects of a company and its controls. Depending on whether your selected example occurred before or after SOX, discuss whether the act c..

How does google drive work : How does google drive work? Can someone explain it from user to cloud storage and back (upload file/download file)? What are VMWare images that would be seen during user experience?

Features of traditional payment systems : Discuss the E-Commerce payment systems. (Describe the features of traditional payment systems, explain the major e-commerce payment mechanisms, and describe the features and functionality).

Which of the following advanced architectures : Which of the following advanced architectures do you consider to be the most reliable? Why? No plagarism

Calculate electric flux through vertical rectangular surface : Calculate the electric flux through the vertical rectangular surface of the box. Calculate the electric flux through the slanted surface of the box.

User Account

All Pages