Tasks:

• Use the following website to select a business scandal that has occurred since 2000.
• https://en.wikipedia.org/wiki/Accounting_scandals

Paragraph 1: Background

• Write a very brief history of the company - no more than 200 words in length (marks will be deducted if longer).

Paragraph 2: The Scandal/wrongdoing

• In your words describe in this paragraph – no more than 600 words what was the scandal, any accounting falsification, and the specifics of the scandal.
• You are required to use the accounting and business terminology covered in this course when describing the scandal.

Paragraph 3: The Auditors (No more than 300 words)

• Identify who the company’s external public auditors were.
• Explain why the auditors did not find the falsifications and properly notify the public accordingly

Paragraph 4: Legal Actions Taken (No more than 400 words)

• Describe what if any legal actions were taken against management and/or the public auditors – ensure to include all fines and jail time.
• If no legal action taken, then to earn marks here – discuss in your opinion if justice was served or not.

Paragraph 5. Sarbanes-Oxley Act, 2002 (no more than 700 words)

• Research both your textbook and the web to learn what the Sarbanes-Oxley Act (SOX) is and provide details of some of the critical areas contained in that Act. Specifically, answer the following:
• 1. What is the main purpose of having such an Act?
• 2. Cite and explain four different sections of the act that would specifically prevent a future scandal such as the one you are addressing from ever happening again.
• 3. Do Canadian Public companies have to follow SOX? Why or why not?

Reference Page:

All references, including the Wikipedia, textbook, and/or the Sarbanes-Oxley ACT you use to find the information on your scandal, must be provided on a references page and written in APA style. In-text citations must also be provided using APA throughout your document any time you provide data or analysis from external sources.