Accounting Question

ACC 691 Module Eight Assignment Guidelines and Rubric

Scenario

You are an auditor investigating how an organization’s chief financial officer (CFO) embezzled a large sum of money over the past five years. In your interview with the organization, you learned that the management team had not changed for about eight years. The CEO admitted that since he doesn’t understand much about accounting, he did not examine the financial statements and certify their accuracy, which is outlined in Sarbanes-Oxley (SOX). Rather, the CEO said he trusted that the CFO knew what he was doing and signed the statements without examining them closely. You have been asked to prepare a presentation for the rest of the management team that shares your recommendations for fraud prevention strategies that can prevent this situation in the future. You must also describe stakeholders’ roles and responsibilities in fraud prevention and best practices for implementing fraud prevention strategies moving forward.
The skills practiced in this assignment will help to support your work in Project Two.

Directions

Using the template provided in the What to Submit section, create a PowerPoint presentation that recommends fraud prevention strategies and describes best practices for implementing those strategies.
Specifically, you must address the following rubric criteria:
Describe the requirements of a fraud prevention strategy that could have prevented the fraud in the scenario.
Determine how a fraud risk assessment can help prevent fraud.
Explain the roles and responsibilities of stakeholders related to fraud prevention.
Describe how an organization can remain current with best practices related to fraud prevention.
Summarize the processof implementing best practices related to fraud prevention.