Find and ACCOUNTING ethical (fraud) situation from a current case in the news. Accounting ethical (fraud) case deals with money or financial statements. If your case is not accounting ethics/fraud case it will receive a zero. The actual ethical/fraud situation must have occurred (not reported) in 2019, 2020, or 2021. You must read the article(s) and summarize in your own words. Only one person per case is allowed.
Trump not disclosing his taxes is an ethical case and current but not an ACCOUNTING ethical case. KPMG stealing regulatory information is again an ethic case but not an an ACCOUNTING ethical case.
Please refer to Chapter 2 – ethics case choice before you begin the assignment. You must post your case choice there, First come first serve basis. If your choice is not posted there, you will receive a zero for this assignment. If you choice a company that somebody else already picked, you will receive a zero.
You must label each answer with the number of question. Each question must have at least three sentence answers except for questions 1 and 2. There is no maximum sentence, use as many as you wish to thoroughly answer the question. All answers must be complete sentences using proper grammar and spelling.
1. Name the company(s) and/or people who committed the accounting fraud that you posted in the ethic choice discussion.
2. What year(s) did this occur? (Must be in 2019, 2020 or 2021)
3. Explain the accounting fraud that occurred.
4. How was the fraud discovered?
5. What was the outcome of the case?
6. Citation(s) – Only one citation is required, but you might need more than one to completely understand the issue. No points will be awarded for the entire discussion if citation is missing. Citations will be checked to verify and no points will be awarded if student just copies and pasted. Citation should be posted in the form of web link(s).
7. Explain the Sarbanes-Oxley Act (SOX).
8. What is the impact of the act.
9. What additional actions are required by the CPA due to this act.