Find the reports and materials published online and in press about a corporate scandal (excluding the Enron scandal) of your choice in a country where IFRS applies (check here: https://www.ifrs. org/use-around-the-world/use-of-ifrs-standards-by-jurisdiction/). You are required to analyse the accounting scandal and the consequential company failure. 1) Reflect on the role of professional ethics in financial reporting, what are the ethical implications and impacts of this scandal on society? In other words, what could be done to prevent such scandals from happening from the development on accounting professional ethics perspective? Guidance: Specifically, this question is to assess i. How poor financial reporting practices (i.e. companies insufficiently fulfill the qualitative characteristic of financial reporting requirements) would affect and/or interact with the companies' adoption of creative accounting/earnings management practices? ii. What are the different forms of creative accounting/earnings management in practice? What are the differences between illegal accounting practices and creative accounting practices? iii. The importance of accounting professional ethics. Please note that accounting scandal and company failure would not necessarily mean that this company went bankruptcy. The companies may still exist, yet the accounting scandals have been reported and the wrong doings have been penalised