you will need to select an accounting scandal or financial statement restatement that has occurred within the last four years.
In a 2–3 page paper, address the following items:
- Provide a summary of the primary accounting and financial reporting improprieties in your selected case. Your summary must include whether there were any penalties or legal consequences for the company’s senior management or the financial statement auditors.
- Identify two probable key deficiencies in the auditor’s risk assessment methods. Explain how each of these deficiencies allowed the accounting irregularities to escape detection.
- Provide a recommendation for audit gathering and evaluation procedures that would help prevent future financial statement misstatements. Provide a rationale for your recommendation.