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Pages:
10 pages/≈2750 words
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3 Sources
Level:
APA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
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Topic:

Fraud in the AIS (Essay Sample)

Instructions:
Assignment 3: Fraud in the AIS Due Week 7 and worth 280 points For this assignment, research the Internet or Strayer databases to locate a firm that was involved in a fraud and / or embezzlement case. Explain how the firm's accounting information system (i.e., components and functions) contributed to the fraud and / or embezzlement. You will need to focus on how each component / function of the accounting information system failed, which resulted in the scandal / case. Write a ten to twelve (10-12) page paper in which you: 1. Based on the information you researched, assess the failure of the firm's accounting information system to prevent the related fraud / embezzlement. 2. Imagine that the company that you researched uses a third-party accounting system. Evaluate the effectiveness of the firm's stakeholder in the event that a third-party accounting system suffers a breach. Include an assessment of the level of responsibility of the software provider to the business and its clients. Provide support for your rationale. 3. Determine what advances in accounting and / or information technology could have prevented the event from occurring. Provide support for your argument. 4. Evaluate what changes should be made to both the Sarbanes-Oxley Act of 2002 and other current laws in order to make them more effective in deterring companies from committing crimes. 5. Recommend a strategy that the company you indicated may use to prevent future business information failures. Indicate how the company should approach the implementation of your recommended strategy. Provide support for your recommendation. 6. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. Your assignment must follow these formatting requirements:  Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.  Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are:  Analyze the business activities that comprise an accounting information system to determine the information needs to support decision-making function.  Use technology and information resources to research issues in accounting information systems.  Write clearly and concisely about accounting information systems using proper writing mechanics. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric. source..
Content:
ENRON’S FRAUD IN THE AIS Name Institution Affiliation Course Date of Submission Introduction Accounting information system AIS is the key factor of determining the success of an organization because it prevents frauds from occurring since there are adequate accounting information system in place. If a business appears to be carrying its operations recklessly with gross negligence with intent of defrauding or any fraudulent purposes, it is declared that a person knowingly is a party to the carrying of a business in such a manner by the court of law and is personally liable for all liabilities of the corporation. An effective accounting information system prevents such instances since it provides compatibility, flexibility and a favorable cost-benefit relationship significant to the corporation (Hall, 2004). An accounting information system is therefore, a combination of resources; people, procedures and business records that a company maintains to provide its financial data developed to suit individual needs of organization type. The most important segment of accounting information system is the internal control system since it is a procedure employed to safeguard assets and authorize trasactions by ensuring accuracy of accounting records (Hall, 2004). AIS are a formal procedure in which data is collected processed into information and distributed to users. It is a system that processes financial transactions and non-financial transactions that affects directly the processing of financial transactions. Collapse of Enron Enron Corporation is a collapsed multinational energy giant in the US which was founded as a result of merger between two major natural gas pipeline companies. The corporation was engaged in exploration of gas and oil through its subsidiary in its domestic operations and internationally. The corporation was later forward integrated developing into a production and marketing of its products to consumers. Enron operated in the US Canada ...
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