Acct573Week1CaseAnalysisRubric.docx
Acct 573 Week 1 Case Analysis
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Acct 573 Week 1 Case Analysis
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Criteria
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Ratings
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Pts
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This criterion is linked to a Learning OutcomeRecent Developments
Research recent developments involving this case. Summarize these developments in a bullet format. There are two news summaries in order to get you started
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12.5 pts
Recent Developments
Summarized recent developments in a bullet format.
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0.0 pts
No Recent Developments
Did not summarize recent developments in a bullet format.
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12.5 pts
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This criterion is linked to a Learning OutcomeAudit Procedures
Suppose that a large investment firm had approximately 10 percent of its total assets invested in funds managed by Madoff Securities. What audit procedures should the investment firm's independent auditors have applied to those assets?
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12.5 pts
Full Marks
Provided the audit procedures which the investment firm's independent auditors should have applied to those assets invested in funds managed by Madoff Securities.
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0.0 pts
No Audit Procedures Provided
Did not provide the audit procedures which the investment firm's independent auditors should have applied to those assets invested in funds managed by Madoff Securities.
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12.5 pts
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This criterion is linked to a Learning OutcomeFraud Conditions and Fraud Risk Factors
Professional auditing standards discuss the three key "conditions" that are typically present when a financial fraud occurs and identify a lengthy list of "fraud risk factors." Briefly explain the difference between a fraud "condition" and a "fraud risk factor" and provide examples of each. What fraud conditions and fraud risk factors were apparently present in the Madoff case?
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12.5 pts
Full Marks
1. Explained the difference between a fraud "condition" and a "fraud risk factor" and provided examples of each. 2. Provided the fraud conditions and fraud risk factors which were apparently present in the Madoff case.
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6.5 pts
Explained the Difference
Explained the difference between a fraud "condition" and a "fraud risk factor" and provided examples of each.
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6.5 pts
Fraud Conditions and Fraud Risks
Provided the fraud conditions and fraud risk factors which were apparently present in the Madoff case.
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12.5 pts
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This criterion is linked to a Learning OutcomeOther Fraud Prevention and Detection
In addition to the reforms mentioned in this case, recommend other financial reporting and auditing-related reforms that would likely be effective in preventing or detecting frauds similar to that perpetrated by Madoff.
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12.5 pts
Recommended Other Financial and Auditing-Related Reforms
In addition to the reforms mentioned in this case, recommended other financial reporting and auditing-related reforms that would likely be effective in preventing or detecting frauds similar to that perpetrated by Madoff.
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6.5 pts
Recommended Other Financial and Auditing-Related Reforms to Detect Fraud
In addition to the reforms mentioned in this case, recommended other financial reporting and auditing-related reforms that would likely be effective in detecting frauds similar to that perpetrated by Madoff.
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6.5 pts
Recommended Other Financial and Auditing-Related Reforms to Prevent Fraud
In addition to the reforms mentioned in this case, recommended other financial reporting and auditing-related reforms that would likely be effective in preventing frauds similar to that perpetrated by Madoff.
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12.5 pts
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Total Points: 50.0
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noel001
