Internal Auditing : Corporate Fraud, Greed For Power, Money, And Influence

1165 Words5 Pages
The purpose of this research is to provide a summary outline on internal auditing by uncovering motives behind corporate fraud, executives greed for power, money and influence. These issues will include a transitory story of the Archer Daniels Midland Company (ADM) scandal which results in fraudulent corporate practices using the fixed pricing scheme. If internal auditing practices were implemented at ADM may have saved investors and customers millions of dollars. This topic shifts to company responsibilities for employing internal auditing practices and managers’ duties to uphold integrity over a decade Sarbanes-Oxley Act of 2002 has been prescribed. This paper ties in the connection between internal auditing and management by flowing into managerial accounting processes.
Keywords: Sarbanes-Oxley Act of 2002, (SOX), managerial accounting internal controls, internal audits, management, corporate fraud, ethics responsibility, whistleblowing, white collar crime, greed

Internal Auditing The internal auditing has vastly changed since the Archer Daniels Midland Company price fixing scandal, the Enron deceit or implementation of Sarbanes-Oxley Act of 2002. Both of these corporations had two things in common greed and faulty internal auditing accounting practices. In fact, since the time of both scandals Hollywood has made two movies, “Dick and Jane” played Jim Cary, who was executive that highlighted the debauchery of Enron not mention the second movie “The Informant” played

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