This assignment is a research report that identifies and analyzes a company that has been indicted for fraud. The report also will evaluate the auditor’s role in relation to the fraud.
The company to be researched is Theranos.
- Your report must describe the issues 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 fraud, the affected stakeholders, and the ultimate resolution
- A brief history of the company
- An analysis of the auditor’s role in the fraud, including any auditing standards that the auditors did not follow
- Identification of internal controls that were circumvented or lacking and that could have prevented the fraud
- Identification of accounting policies currently in effect that are designed to prevent similar problems from occurring again, or, if no policy exists, a proposal for a solution that would prevent a recurrence.
Your written response paper should be 8-10 pages in length. Type your paper in a Word document and follow APA format. Include a title page and reference page.
Use four (4) outside academic sources other than the textbook, course materials, or other information provided as part of the course materials.
Textbook: Louwers, T. J., Blay, A. D., Sinason, D. H., Strawser, J. R., & Thibodeau, J. C. (2017). Auditing and Assurance Services (7th ed.). New York: McGraw-Hill Education.