ACC 571 Assignment 4: Asset Misappropriation and
Corporate Governance
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.
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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