Auditing for Accounting Fraud Term Paper by The Research Group
Auditing for Accounting Fraud
A look at how auditors are now held responsible for discovering accounting fraud.
# 72997 | 1,800 words | 8 sources | MLA | 2004 |
Published on Dec 01, 2004 in Business (Accounting) , Accounting (General)
$19.95 Buy and instantly download this paper now
This paper explains that, after it was discovered that several major corporations in the U.S. had committed accounting fraud, it became the responsibility of auditors to discover evidence of accounting fraud in businesses. The paper discusses the impact of Sarbanes Oxley as well as SAS 99 on auditors and on the companies they audit.
From the Paper:"Many decisions in accounting and auditing involve judgment calls. Nevertheless, there are rules that cannot and should not be broken. Over the last several years a number of major publicly traded corporations in the United States have committed accounting fraud and as a result have filed for bankruptcy protection. John Weinberg, in "Economic Quarterly", comments that these bankruptcies have resulted in the loss of hundreds of billions of dollars in stock value, wiping out the life savings of numerous investors and putting tens of thousands of..."
Cite this Term Paper:
Auditing for Accounting Fraud (2004, December 01) Retrieved March 29, 2023, from https://www.academon.com/term-paper/auditing-for-accounting-fraud-72997/
"Auditing for Accounting Fraud" 01 December 2004. Web. 29 March. 2023. <https://www.academon.com/term-paper/auditing-for-accounting-fraud-72997/>