ACC 571 Assignment 4: Asset Misappropriation and
Corporate Governance
For this assignment, use the
Internet to research and identify an organization that was a victim of asset
misappropriation.
Write a five to six (5-6) page paper
in which you:
1. Based on your research, evaluate the type of asset misappropriations that occurred at the organization, and assess the factors that contributed to the misappropriation. Give your opinion on whether poor management or lack of management played a role in the asset misappropriation. Provide support for your rationale.
1. Based on your research, evaluate the type of asset misappropriations that occurred at the organization, and assess the factors that contributed to the misappropriation. Give your opinion on whether poor management or lack of management played a role in the asset misappropriation. Provide support for your rationale.
2. Evaluate the legal mechanisms
that could have been used to recover assets through the civil and criminal
justice systems. Assess whether the civil and criminal justice systems did an
effective job in recovering the organization’s assets. Provide support for your
rationale.
3. Assess management’s
responsibility to share information related to the breach with various
stakeholder groups, indicating what should be shared and how. Provide support
for your rationale.
4. Review AICPA Statements on
Auditing Standard (SAS) No. 99, “ Risk Factors Relating to Misstatements
Arising from Misappropriation of Assets”, found within the text. Assess SAS 99
risk factors and discuss if the risk factors were prevalent in the organization
you researched. Give your opinion on whether or not organizations should
implement a plan that reviews risk factors on a regular basis to determine if
fraud has occurred. Explain why or why not.
5. Review the corporate governance
plan of the organization you researched, evaluate the effectiveness of the
plan, and make suggestions for improvements to protect the stakeholders.
Provide support for your rationale.
6. Recommend a fraud prevention plan
for this organization. Determine what positive or negative consequences this
fraud prevention plan might have on employees’ morale and the public perception
of the organization.
Use at least four (4) quality
resources in this assignment. Note: Wikipedia and similar Websites do not
qualify as quality resources.
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