Assignment 1 Accounting Fraud--Investigating the accounting fraud at US foodservice

Assignment 1 Accounting Fraud--Investigating the accounting fraud at US foodservice

Use the Internet or Strayer databases to research one (1) publicly traded company that committed fraud within the last five (5) years and the fundamental drivers of the fraud.

1.       Briefly describe the selected publicly traded company that committed fraud, and analyze the fundamental drivers of the fraud.

2.       Outline an audit plan that could have prevented or detected the fraudulent activity in its earliest stages. Provide a rationale for your response.

3.       Determine the key type(s) of audit evidence you would use to execute your audit plan, and evaluate the significance of the identified evidence. Justify your response.

4.       Based on the audit plan that you outlined, speculate two (2) areas that might require more extensive sampling and two (2) areas that would require less sampling. Provide a rationale for your response.

5.       Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

Your assignment must follow these formatting requirements:

·         Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

·         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 cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

·         Analyze and interpret financial statements.

·         Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non-financial performance measurements.

·         Use technology and information resources to research issues in financial accounting for managers.

·         Write clearly and concisely about financial accounting using proper writing mechanics.