Order Fraudulent Financial Reporting Assignment

Order Fraudulent Financial Reporting Assignment
1. The Sarbanes-Oxley Act will fundamentally change the way public companies do
business and how the accounting profession performs its statutorily required audit
functions. True/False? Explain your answer.
2. When was the Sarbanes-Oxley Act signed into law by President George W. Bush?
3. Explain the sixlegged stool of the financial reporting process.
4. What are the three M’s of financial reporting fraud?
5. How did Sunbeam create revenues?
6. Break financial statement fraud schemes into 10 types.
7. What are the three ways managers override internal controls? How can a forensic
accountant overcome managers overriding internal controls?
8. Give some examples where companies use biased assumption? What is meant by
“wildcatting?” 9. Where might financial statement fraud occur in a company (e.g.,
what are some red flags)?
10. Is check forgery generally an internal or external fraud? How about credit card
fraud?
11. What are major motives of fraud according to COSO?
12. How did the three Duke employees allegedly commit fraud in 2001 and 2002?
Why?
13. Give some examples of internal fraud.
14. Give some examples of external fraud.
15. What are the three factors of the fraud pyramid?
16. What did Sherron Watkins say about rationalization and Jeff Skilling and Andy
Fastow?
17. What is the 3-C model of Professor Zab Razaee?
18. What superseded SAS No. 82?
19. Define internal controls.
Order Fraudulent Financial Reporting Assignment
20. Outline the KPMG 2013 Integrity Survey’s “perceived root cause of
misconduct.”
21. What is PCAOB’s definition of internal controls? 22. Do you fit within the
profile or characteristics of a white collar criminal? Explain.
23. What are G.E. Moulton’s fraud identifiers? 24. Give the percentages when CEOs
and CFOs are involved in fraudulent financial fraud cases. 25. Give Professor Jack
C. Robertson’s typical whitecollar criminal characteristics.
26. What was the pressure on Tracey Henderson, an executive of the Australia
Football League, to steal? 27. Describe senior level management fraudsters. 28.
What are the number one and two conditions conducive for fraud according to
KPMG surveys? 29. What companies are more prone to engage in fraudulent
behavior?
30. Why is it difficult to develop an accurate profile of a fraudster?
31. What is a definition of earnings management? What is fraudulent earnings
management?
32. How many restatements of earnings occurred in 2013 and 2014?
33. How does the SEC define abusive earnings management?
34. Here is the letter written by Sherron Watkins, CPA. Is she a whistleblower? Did
she commit a discreditable act under AICPA Rule 501?