The ZZZZ Best fraud resulted in the Treadway Commission report on Fraudulent Financial Re-porting (1987) as an attempt to reform areas that fostered frauds of the type perpetrated by Minkow. Go to www.pearsonhighered/rufus for a link to this report. Prepare a memo to your professor out-lining the major recommendations made by this Commission.
Answer to relevant QuestionsAs a result of the WorldCom fraud, the AICPA issued SAS No. 99 — Consideration of Fraud in a Financial Statement Audit (2003). Go to www.pearsonhighered/rufus for a link to this document and review the auditing guidance. ...What is the agency problem?Identify and discuss five key aspects of financial crimes.Identify three organizational characteristics that might serve as indicators or “red flags” of fraudulent activity. Briefly discuss each.1. When a fraudster concludes that his or her fraudulent act is justified because of some prior action by the victim that caused harm to the fraudster, this is called:a. Conceptualizationb. Remediationc. Retributiond. ...
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