Certified Public Accountant

managers themselves. Oftentimes, firms fail to put into place efficient internal controls that may unfortunately lead to corporate loss and even corporate failure. Under the authority of the Sarbanes-Oxley Act of 2002 (SOX), congress mandated that all public companies must establish and enforce a system of internal controls over its financial reporting. The role of an auditor is to evaluate these controls and issue an opinion with the goal of assuring that management

these three collapsed companies (Buffini, 2002a). In order to improvement, it is mandatory for all professional auditors to comply with the Joint Code of Professional Conduct established by the Society of Certified Practicing Accountants (CPA) Australia and the Institute of Chartered Accountants Australia (ICAA). Arthur Andersen has done the financial audit of HIH from 1971 until HIH’s liquidation in March 2001. During this period Arthur Andersen developed a professional relationship with HIH over

Chapter 4: Case Studies The best way to understand the numerous problems that have come as a consequence of corporate misconduct in this modern world is through understanding and studying about the various cases of high profile corporate misconduct that have occurred in recent times. In this project, the researcher shall focus on the Satyam scandal, Volkswagen emissions scandal and the ENRON scandal. Satyam scandal: The Satyam scam occurred as a result of fraudulent auditing practices and poor

Generally speaking, the idea of an audit is to examine the past. However, important events can and do occur either after a financial period ends or after audit work is completed. In order to address these events, the American Institute of Certified Public Accountants (AICPA) issued SAS No. 122. The AICPA also published AU-C §560 in order to clarify SAS No. 122 (AICPA, 2015). Analysis SAS No. 122 defines subsequent events as: “Events occurring between the date of the financial statements and the

ABC’s Corporate Controller Kimberly Beaudet ACC 206 Principles of Accounting II Instructor: William Blix 01 July 2016 Introduction This final paper is communicating the financial situation of the ABC Company. Within any organization there are various parts working together in order to reach a common goal. In the case of ABC Company, the company CEO wants to decide whether a new business interest’s project should be implemented and can this new endeavor be afforded and profitable

CHAPTER ONE: Accounting Information Systems and the Accountant DISCUSSION QUESTIONS: 3. Advances in IT are likely to have a continuing impact on financial accounting. What are some changes you think will occur in the way financial information is gathered, processed, and communicated as a result of increasingly sophisticated IT? Advances in IT that allow transactions to be captured immediately, accountants and even the AIS itself can produce financial statements almost in real-time. Interactive data

Professional Conduct Provisions as indicated in the AICPA principles section. One of the six principles of the code of professional conduct stated in the AICPA principles section is the public interest principle. A main characteristic of professionalism is to accept the overall responsibility to the topic. Thus, the public interest principle call for people to focus on the collective welfare of the community of the people and institutions in which they provide their professional services. While conducting

The standards by which financial statements are reported are known as Generally Accepted Accounting Principles (GAAP) (Finkler, Jones, & Kovner, 2013).  The United States (US) recognizes GAAP to be a set of rules used by accountants in financial reporting (Finkler et al., 2013).  The United States-GAAP (US-GAAP) were established by the Financial Accounting Standards Board (FASB) (Finkler et al., 2013). The US-GAAP are primarily used in the US whereas many other countries have adopted their own general accounting

made education my top priority, not only to make my family and I proud but as well to motivate others in the same situation as myself. With the help of scholarship assistance and hard work I will continue to pursue my dreams of becoming a Certified Public Accountant and reduce the financial burden college will leave. I have no doubt in my mind I will put my absolute best effort in representing the O'Brate Foundation during my college years and beyond if chosen for any of the wonderful scholarships that

Bernie Madoff lead the biggest ponzi scam in history. Bernie Madoff started an investment firm in the early 1960s. He borrowed money from his father in law who was a retired CPA (certified public accountant). Bernie father in law help attract clients from around the world. Madoff firm was known throughout the world for offering good returns around 10 percent or more which is a unheard of number. By the 1980s his firm was handling 5 percent of the stock exchange trading volume. Madoff had over 3