ACC 571 Course Great Wisdom / tutorialrank.com ACC 571 Course Great Wisdom / tutorialrank.com | Page 5

strengthen the current control structure. Support your
recommendations with examples and rationale.
You have just been hired by XYZ Company as a senior-level
accountant. You think you have discovered what you believe to be
fraud in the latest financial statements. Propose what actions you
might take regarding what you have discovered. Support your
proposal with examples.
"Fraud Profiles and Analysis" Please respond to the
following:
From the e-Activity, analyze the major cause(s) of the financial
statement fraud and recommend changes that would have prevented
the fraud. Support your recommendations with examples and
rationale.
Analyze common causes for financial statement fraud. Based on your
analysis, develop a profile that companies should use to predict fraud
potential in their organizations and recommend action steps to take
when fraud potential appears. Provide a rationale for your
recommendation "Fraud Symptoms and Correction
Strategies" Please respond to the following:
Imagine you are an accountant working on closing the books for the
year end. Given that many accounting items rely on estimates,
construct a scenario in which you would question an estimate as being
either too high or too low that would misstate earnings. Support your
answer with examples.
Imagine that you are on the board of directors for XYZ Company.
You have received an anonymous tip that the financial statements
were prepared in a fraudulent manner. Your initial reaction is that the
threat level is high. Develop a plan of action that you would take to
react to this allegation. Support your plan with examples and provide
a rationale.