Portfolio Project Paper: Assessing the Internal Audit Function
The Portfolio Project for ACT575 is a research report that identifies and analyzes a company that has experienced a breakdown in audit procedures.
- To conduct your research, choose one of the companies listed below:
- Deloitte and Adelphia Communications
- Gateway Computers
- HBOC, Arthur Andersen LLP
- Verifone Holdings, Inc.
- Dell, Inc.
- Northwest Airlines and Ernst & Young.
- Your report must describe the issue surrounding the company and any company policies in relationship to the impact those might have on public audits/accounting.
- Provide the following elements in your paper:
- An executive summary identifying the company, the audit issue, the affected shareholders, and the ultimate resolution
- A brief history of the company
- An analysis of the auditor’s role, including any auditing standards that the auditor did not follow
- Identification and discussion of internal controls that were circumvented or audit standards that were not followed.
Your paper should meet the following requirements:
- 8-12 pages in length
- Formatted according to CSU-Global Guide to Writing and APA Requirements
Include four or five outside sources. The CSU-Global Library is a great place to start looking. One source can be the SEC Enforcement Action that was related to the fraud under examination.