Homework: Emerging Auditing Issues
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 evaluates the effectiveness of federal regulations and strategies that address those issues.
Task
Write 4 to 6 page paper in which you:
a. 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.
b. 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.
c. Assess at least five stages of the system design life cycle model and how they would impact the emerging issue.
d. 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.
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
The specific course learning outcome associated with this homework is:
a. Evaluate the effectiveness of federal regulations and strategies to address emerging issues in the accounting field.