In 1990s and early 2000s, Xerox was caught manipulating the numbers behind their financial statements, including a set of actions that took place in Mexico. Read all of the sections of this report to get the full picture, but focus on the situation with Mexico. You do not need to be concerned with the other issues. The learning goal of this case is to better understand how IFRS standards support corporate governance, auditing and what to do when a violation is found. Xerox is a US based MNC, provide your answers accordingly;

You are the US based internal auditor who finds the Mexico City problem. Write a three to four paragraph memo to the Director of internal Audit to prepare for a meeting the two of you will have with the CFO.

This is AUDITING QUESTION