Oversight of Financial Statement Fraud (graded)
The Public Company Accounting Oversight Board (PCAOB) is a direct result of the financial statement fraud that occurred in the early 2000s. What does it do, and most importantly, how does it accomplish its mission? What evidence is there that it is effectively executing that mission?
Let’s do some research on the PCAOB. What is the history of the PCAOB and what is its role today?
Great discussion of the PCAOB! What other governing bodies are used in accounting to oversee fraudulent matters? How does the PCAOB work with these other bodies?
Is fraud training a requirement for internal auditors? Is it helpful? Why or why not?
What actions could or should a company take to increase the independence of the internal audit function? Explain. Are there any requirements for public companies who have internal audit functions
