Evaluate the actions and ethical breach of the Wirecard's leadership. Describe how the tone at the top contributed to this fraudulent activity. Describe how various stakeholders (employees, stockholders, and the community) were affected by the actions of Wirecard leadership. How did the Audit Committee and Board fail in their responsibilities? Audit regulation requires the audit team to assess the fraud risk associated with each engagement. What characteristics of Wirecard might have caused it to be identified as a high-risk audit? Consider the incentives, rationale, and opportunities for fraud in the assessment.

Answer rating: 100% (QA)

Wirecards leadership engaged in a series of unethical actions including falsifying financial statements inflating revenue figures and misrepresenting ... View the full answer