Part I:(a) From the perspective of the Federal government, discuss the pros and cons of mandatory disclosure under FAR 52.2013-13 and voluntary disclosure under the Foreign Corrupt Practices Act. Which is more effective in addressing fraud and why? Cite any relevant data to support your position.

(b) After reviewing audit standards and auditor responsibility, what were the auditors' failures in the Anderson/Enron and E & Y /Health South cases. What were the similarities and differences in the two cases? The subsequent reforms in the Sarbanes-Oxley Act attempted to address those failures. Have those changes been effective and why or why not?