Acc 562 Discussion questions and Assignment

Week 9 discussion question

·         From the case study, determine the main potential ethical dilemmas. Next, use the seven (7) steps in the ethical decision-making framework to recommend one (1) course of action you would take in order to avoid the ethical dilemmas. Provide a rationale to support your recommendation.

·         From the case study, based on your recommendation in Part I of this discussion, suggest one (1) strategy that would support you making the right decision without undermining the manager’s confidence in your problem-solving ability in a difficult situation. Provide a rationale to support your response.

Week 10 Discussion Question

·         From the case study, evaluate the quality of REDTOP’s internal audit function. Based on your evaluation, recommend at least two (2) changes that you would make in order to improve the quality of REDTOP’s internal audit function. Provide a rationale to support your response.

·         From the case study, give your opinion as to whether or not your external audit engagement team could use REDTOP’s internal audit function in another fashion, as opposed to merely relying on existing internal audits in order to perform the overall audit of REDTOP Sports Company. Recommend one (1) alternative to using the work that the internal audit has already yielded as part of your external audit. Provide a rationale to support your response.

Assignment 3: Freescale Semiconductors, Inc.

Review the Freescale Semiconductor case in your textbook.

Prepare a twelve slide PowerPoint presentation with speaker notes in which you:

1.       Give your opinion as to whether or not additional laws and harsher penalties on financial fraud can eliminate or mitigate financial fraud. Support the rationale.

2.       Suggest three (3) new strategies that you believe the government can implement to eliminate or mitigate insider trading. Provide a rationale to support the suggestion.

3.       In this case study, leaked merger and acquisition information was used to enable the fraud. Determine the key internal controls needed over the communication of confidential information to outside parties, and analyze the manner in which these controls act as a deterrent to fraudulent activities.

4.       Pretend you are Donna Murdoch in this case study and propose an alternative plan to act on the leaked information. Next, recommend one (1) strategy to communicate the alternative plan and determine whom the plan should be communicated with. Justify the response.

5.       In this case study, E&Y was providing a consulting service to The Blackstone Group related to its planned acquisition of Freescale Semiconductor. Compare and contrast the different auditor’s professional responsibilities between consulting engagements and audit engagements.

6.       Take a position on whether more legislative and/or regulatory agency oversight will increase or decrease corporate fraud. Provide a rationale to support the position.

7.       Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and similar type Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

·         Apply APA standards to citation of sources

·         No more than four (4) bullets per slide

·         No more than six (6) words per bullet

·         Headings: Times New Roman Font:36 Points

·         Bullets: Times New Roman Font:24 Points

·         Add bulleted speakers notes

·         Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.

The specific course learning outcomes associated with this assignment are:

·         Examine the various types of financial fraud and the auditor’s responsibilities related to fraud detection.

·         Evaluate the legal environment for liability related to financial audits and the proactive activities that a professional may take to prevent litigation.

·         Use technology and information resources to research issues in auditing.

·         Write clearly and concisely about auditing using proper writing mechanics.