ACC 574 Week 8 Assignment 4 - Emerging Auditing Issues

Search the Strayer databases or Internet for hot topics and emerging issues of financial statement fraud and other fraudulent act committed by publically traded companies, including those identified by the PCAOB. Consider the topics, trends, and longevity of those issues identified. Write a six to eight (6-8) page paper in which you:

1. Create      an argument in agreement or disagreement that the creation of the PCAOB      has been effective with improving the reliability of audited financial      statement for the public users of the information. Provide support for      your position.
2. Assess      the impact of the PCAOB to the accounting profession, given the shift from      self-regulation to federally regulated. Provide a rationale for your      assessment.
3. Evaluate      whether or not the PCAOB should issue additional regulations regarding the      responsibility for corporate officers and auditors of financial      statements, indicating the resulting impact to financial statement      integrity. Provide support for your rationale.
4. Determine      the impact that SOX regulation has on the internal control environment.      Speculate on the level of testing necessary to provide assurance of      completeness and accuracy for CEOs to certify the company’s financial      statements. Provide support for your rationale.
5. Assess      how the System Design Life Cycle model would impact the emerging issue.      Provide support for your rationale.
6. Recommend      a strategy for dealing with the emerging issue and determine the types of      fraud schemes that might go undetected if your recommendations are not      implemented. Provide support for your recommendation.
7. Use      at least three (3) quality resources in this assignment. Note: Wikipedia      and similar Websites do not qualify as quality 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