ACC 562 Week 3 DQs
Determine the fundamental audit procedures that you should have applied to this investment.
Predict the way in which a peer review of Friehling and Horowitz would have uncovered the scheme related to Madoff Securities.
Pretend you are Harry Markopolos and suggest one( 1) strategy, different from that of the case study, to expose the potential fraud. Provide a rationale to support the suggestion.
Analyze the role of the audit committee for Madoff Securities in regard to the discovery of Ponzi scheme, and suggest one( 1) action the audit committee could have taken in order to prevent or detect the fraud. Provide a rationale to support the suggestion
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ACC 562 Week 3 DQs
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From the case study, use the ethical framework to propose a course of action that you would take concerning the audit. Provide a rationale for your response.
Imagine that you work for an audit firm and the firm selected you to assess its auditor independence and the potential threats to the firm. Determine at least two( 2) potential threats to auditor independence