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Acc 571 week 2-7
Educational Requirements and Professional Organizations for Fraud Examinations and Financial
Forensics" Please respond to the following:
Fraud examination and financial forensic skills have a key role in corporate governance.
Appraise the key roles in corporate governance, indicating how gaps in the roles may
lend itself to corporate fraud.
From the e-Activity, identify the various types of career paths that are available to antifraud professionals. Choose a career path that you would take and explain why you chose
that career path.
"Theories of Crime Causation and Non-sharable Problems" Please respond to the following:
From the e-Activity, compare and contrast theories of crime causation. Speculate as to
which theory would have most likely detected fraud at Enron.
Assess the six situational categories that cause non-sharable problems. Determine which
of these six categories, in your opinion, were prevalent at Enron
"Securities Fraud" Please respond to the following:
From the e-Activity, examine how the Bernie Madoff organization was dismantled and
give your opinion on whether you believe he was treated fairly during this process.
Give your opinion on whether or not you believe the Securities and Exchange
Commission failed in not detecting Bernie Madoff crime earlier. Support your answer.
The Sarbanes-Oxley Act of 2002 and the Criminal Justice System" Please respond to the
The Sarbanes-Oxley Act requires the chief executive officer and the chief financial
Officer of public companies to personally certify annual and quarterly SEC filings. These
certifications require the CEOs and CFOs to take responsibility for their companies’
financial statements. From the e-Activity, assess the importance of the criminal
certifications and the civil certifications, and determine whether or not such certifications
will be effective in reducing and detecting fraud in corporations.
Fraud may be prosecuted criminally or civilly. Anytime the legal issue at hand involves
money or fraudulent activity, forensic accountants and fraud examiners can play an
important role in the investigation. Compare and contrast the remedies available in the
civil and criminal justice system, indicating which system is most effective.
"Management Override, Collusion, and Earnings Management" Please respond to the following:
Assess the three procedures that are effective in identifying breakdowns in internal
controls due to override and collusion. Choose which of three would be most difficult for
the external auditor to detect. Explain your answer.
Compare and contrast earnings management and fraud, and give your opinion of how
external auditors can determine if management is deliberately managing their earnings.
"IT Systems Controls and Data Recovery" Please respond to the following:
Evaluate the two major approaches for testing IT system controls. Of the two approaches,
give your opinion on which you believe provides the most assurance that fraud has not
occurred in an organization. Provide support for your rationale.
Evaluate the effectiveness of computer functions that are used to recover deleted files,
and identify software packages that are commonly used to restore deleted files. If the
software fails to recover the deleted files, explain what recommendations you would
make to the organization.
"Fraud Detection Applications" Please respond to the following:
You have been hired by XYZ Company to automate its fraud-detection process. Analyze
the process of fraud detection automation. Based on your analysis, propose an automation
plan to XYZ and include recommended tools and process steps. Support your proposal
You have decided to commit fraud in a company that has an automated fraud-detection
process. Develop a scheme that is likely to be undetected by the automated process.
Make recommendations that would prevent you from carrying out your scheme. Support
your scheme and recommendations with examples.
Fraud Detection Methods" Please respond to the following:
From the e-Activity, evaluate the various tools / techniques available to auditors to
prevent or detect fraud. Based on your analysis, propose the most effective audit tools /
techniques that would have prevented or detected the fraud. Support your proposal with
Evaluate what drivers would cause you to commit fraud. Based on that evaluation, rank
the drivers and the types of fraud you would be willing to commit. Propose a solution for
society as a whole to prevent fraud. Support your solution with examples and a rationale.
"Financial Statement Fraud" Please respond to the following:
Evaluate the types of financial statement fraud that has occurred in the past and predict
what types of fraud may / or may not be committed in the future. Support your
prediction(s) with examples.
Imagine you are the controller of a major recent tech start-up. Upper management is putting
pressure on you to exceed Wall Street’s earnings expectations for the next quarter. You
have decided that you have to “cook the books” in order to exceed expectations. Create a
scheme to increase earnings for the quarter. Support your scheme with examples.
"Financial Reporting Structure" Please respond to the following:
Analyze the current control structure for safeguarding financial reporting. Based on your
analysis, recommend changes that will strengthen the current control structure. Support
your recommendations with examples and rationale.
You have just been hired by XYZ Company as a senior-level accountant. You think you
have discovered what you believe to be fraud in the latest financial statements. Propose
what actions you might take regarding what you have discovered. Support your proposal
"Fraud Profiles and Analysis" Please respond to the following:
From the e-Activity, analyze the major cause(s) of the financial statement fraud and
recommend changes that would have prevented the fraud. Support your recommendations
with examples and rationale.
Analyze common causes for financial statement fraud. Based on your analysis, develop a
profile that companies should use to predict fraud potential in their organizations and
recommend action steps to take when fraud potential appears. Provide a rationale for your
"Fraud Symptoms and Correction Strategies" Please respond to the following:
Imagine you are an accountant working on closing the books for the year end. Given that
many accounting items rely on estimates, construct a scenario in which you would
question an estimate as being either too high or too low that would misstate earnings.
Support your answer with examples.
Imagine that you are on the board of directors for XYZ Company. You have received an
anonymous tip that the financial statements were prepared in a fraudulent manner. Your
initial reaction is that the threat level is high. Develop a plan of action that you would
take to react to this allegation. Support your plan with examples and provide a rationale.