Question - The Portfolio Project for ACT450 is a research report that identifies and analyzes a company that has been indicted for fraud. The report also will evaluate the auditor's role in relation to the fraud.
To conduct your research, choose as a case study one of the companies listed below:
1. Health Management, Inc.
2. Jamaica Water Properties
3. The Leslie Fay Companies
4. NextCard, Inc.
5. ZZZZ Best
Your report must describe the issues surrounding the company and any company policies in relationship to the impact those might have on public audits/accounting.
Provide the following elements in your paper:
1. An executive summary identifying the company, the fraud, the affected stakeholders, and the ultimate resolution
2. A brief history of the company
3. An analysis of the auditor's role in the fraud, including any auditing standards that the auditors did not follow
4. Identification of internal controls that were circumvented or lacking and that could have prevented the fraud
5. Identification of accounting policies currently in effect that are designed to prevent similar problems from occurring again, or, if no policy exists, a proposal of a solution that would prevent a recurrence
Your paper should be 8 - 10 (page)[s] in length.