5-108. Go to www.sec.gov and find the section entitled Accounting and Auditing Enforcement Releases

(AAERs). For the most recent full year, review the releases and select one that relates to financial statement fraud. Write a memo to your professor containing the following:

a. Identify and discuss the issue the SEC is pursuing.

b. Summarize the SEC’s findings.

c. Discuss the company’s reaction to the investigation.

d. Outline how the issue will be corrected.