Week 6 Assignment - Emerging Auditing Issues ACC574

Overview

Search the Strayer databases or Internet for hot topics and emerging issues of financial statement fraud and other fraudulent acts committed by publicly traded companies, including those identified by the PCAOB. Consider the topics, trends, and longevity of issues identified and evaluate the effectiveness of federal regulations and strategies that address those issues.

Instructions

Write a 4–6 page paper in which you: 

• Create an argument in agreement or disagreement that the creation of the PCAOB has been effective with improving the reliability of audited financial statements for the public users of the information. Defend your position with at least three examples and rational explanations. 
• Assess and provide three substantive examples of how the PCAOB has impacted the accounting profession, given the shift from self-regulation to federal regulation. Provide a rationale for the assessment. 
• Assess at least five stages of the system design life cycle model and how they would impact the emerging issue. 
• Recommend a strategy for dealing with the emerging issue and determine three types of fraud schemes that might go undetected if recommendations are not implemented. Provide support for the recommendation. 
• Use at least three quality sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides. 
• Produce writing that is clear and well organized and applies appropriate SWS style. Writing contains accurate grammar, mechanics, and spelling.

The specific course learning outcome associated with this assignment is:

• Evaluate the effectiveness of federal regulations and strategies to address emerging issues in the accounting field.