Unfortunately, people with access to a company's financial statements may tweak them to look better than they really are. Therefore, accountants must carefully look at the financial statements in addition to their knowledge of generally accepted accounting principles (GAAP), Institute of Management Accountants (IMA) standards, and American Institute of Certified Public Accountants (AICPA) standards.

In this module's resources, you learned how fraud is detected in financial statements. For this discussion, find a recent news article or case study published within the last five years that describes fraudulent activity a company has been involved in.