Assignment
2: Litigation, Censures, and Fines
Due Week 7 and worth 280
points
Research the Internet for
recent litigation, censures, and fines involving national public accounting
firms. Examples of litigation cases against national public accounting firms
include fines by regulatory authorities and censures by professional societies.
Write a three to four (3-4)
page paper in which you:
1. Analyze the primary accounting
issues which form the crux of the litigation or fine for the firm, and indicate
the impact to the firm as a result of litigation or fine. Provide support for
your rationale.
2. Examine the key inferences of
corporate ethics related to internal controls and accounting principles which
lead to the litigation or fine for the accounting firm.
3. Evaluate the primary ethical
standards of the accounting organization’s leadership and values which
contributed to approval of the accounting issues and thus created the
litigation or fines in question.
4. Identify specific conduct
violations committed by the organization and accounting firm in question. Next,
create an argument supporting the actions against the organization and
accounting firm, based on the current professional code of conduct for
independent auditors and management accountants.
5. Make a recommendation as to
how regulators and professional societies may prevent this type of behavior in
question for the future. Provide support for your rationale.
6. Use two (2) quality academic
resources in this assignment. Note:Wikipedia and other Websites
do not qualify as academic resources.
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 student’s name, the
professor’s name, the course title, and the date. The cover page and the
reference page are not included in the required assignment page length.
The specific course learning
outcomes associated with this assignment are:
·
Analyze
business situations to determine the appropriateness of decision making in
terms of professional standards and ethics.
· Use technology and information
resources to research issues in accounting.
·
Write
clearly and concisely about accounting using proper writing mechanics.
