Financial fraud and fraudulent financial reporting

02-19-19 Financial Accounting

Deliverable Length: 400-600 words

APA 6 format with references

Information from link below is attached in PDF format to this assignment.

Click to view a list of the top ten accounting scandals of the past decade. This will help you to focus on the importance of internal controls and section 404 of the Sarbanes-Oxley Act (SOX). There are several areas of financial fraud and fraudulent financial reporting. Each is different, but a violation is unethical and will create mistrust of the accountants and the accounting profession.

Discuss the misrepresentation of financial information to the public, and answer the following questions:

 What statements are key targets for this manipulation, and what accounts found in the statements are the main focus?

 How can this fraudulent information be detected? What are the steps to prevent these actions?

 What is the importance of SOX section 404 to help with preventing fraud and fraudulent financial reporting?