Need help with 3-4 page paper for Accounting assignment. APA style. Original Work Only! Please find attached assignment instructions.
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Assignment 1: Auditors and Regulatory Oversight
The Securities and Exchange Commission (SEC) regulates public companies. The
SEC has found that some of these companies have violated GAAP by using
creative accounting practices to mislead investors and creditors regarding the
health of their company.
Use the Internet to research a recent accounting scandal within the last five (5)
years where the SEC accused public companies of accounting irregularities.
Write a three to four (3-4) page paper in which you:
1. Analyze the audit report that the CPA firm issued. Ascertain the legal liability to
third parties who relied on financial statements under both common and federal
securities laws. Justify your response.
2. Speculate on which statement of generally acceptable auditing standards (GAAS)
that the company violated in performing the audit.
3. Compare the responsibility of both management and the auditor for financial
reporting, and give your opinion as to which party should have the greater burden.
Defend your position.
4. Analyze the sanctions available under SOX, and recommend the key action(s) that
the PCAOB should take in order to hold management or the audit firm accountable
for the accounting irregularities. Provide a rationale for your response.
5. Use at least two (2) quality academic resources in this
assignment. Note: Wikipedia and other Websites do not qualify as academic
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch
margins on all sides; citations and references must follow APA or school-specific
format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the students name, the
professors name, the course title, and the date. The cover page and the reference
page are not included in the required assignment page length.
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