ACC 576 WK 4 Assignment 1

ACC 576 WK 4 Assignment 1 - Audit Planning and Activities

 

Search the Internet for a recent occurrence of accounting fraud that an independent accounting firm failed to detect.

 

Write a three to four (3-4) page paper in which you:

1. Evaluate the extent of the fraud in question, and suggest three to five (3-5) reasons why the independent auditors failed to detect the fraudulent activity.


2. Determine the level of responsibility of the auditors to detect within the scope of the audit activities.


3. Suggest the main audit procedures that the firm should have performed to detect the fraud. Indicate your rationale behind your suggested audit procedures.

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ACC 576 WK 4 Assignment 1