“The public's perception of corporate ethics changed dramatically with the revelation of the unethical decision-making at Enron, WorldCom, Adelphia, Tyco International, Peregrine Systems and iVillage. The scandals took a toll on consumers' confidence and portfolios, and undermined their faith in the accounting profession. Corporate stakeholders have called for more transparent financial reporting and evidence of better ethical conduct”   Describe THREE (3) broad categories of fraud schemes that may arise base on the situation above. Give one example for each category.

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Q: What are the most common approaches that perpetrators use to commit fraudulent financial reporting?…

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Q: Why have there have been so many business scandals mentioned in the media over the past few years?…

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