Reference no: EM132346264
Question: Based on the Uber accounting error discussed in the video introduction, select one of the following options and discuss how it may have prevented the dilemma associated with the payments to the drivers? Why is this so important?
• Option A: Review required deductions for accuracy prior to finalizing payroll.
• Option B: Ensure all payroll personnel are properly trained on payment agreement policy for drivers.
• Option C: Hire more competent accounting managers.
Part 2: Respond to a Peer
Read a post by one of your peers and respond, making sure to extend the conversation by asking questions, offering rich ideas, or sharing personal connections.
Reference Article: Uber Admits it Made an Accounting Error and Will Refund Nearly $50 Million to Drivers
As discussed in the video introduction, accounting fraud in large public companies has produced its fair share of major news headlines over the past 20 years. Even though laws like Sarbanes Oxley have been put in place to minimize the opportunity for financial fraud, the threat is still real in today's corporate environment.
Imagine you have been hired to oversee the financial audit of a major company in your city. During the audit, one of the company's employees has disclosed a potential fraud situation involving an accounting department supervisor.
1. In addition to alerting your own manager about the situation, which one of the following options below would you choose to perform next as you proceed with your investigation? Only choose one.
• Option A: Gather additional information by interviewing other company employees.
• Option B: Meet with other members of the management team to discuss the company's current internal controls for preventing fraud.
2. Why do you feel your choice would be most effective?
3. Discuss the reasoning for your selection.
Part 2: Respond to a Peer
Read a post by one of your peers and respond, making sure to extend the conversation by asking questions, offering rich ideas, or sharing personal connections.