Improper Revenue Recognition

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e-Activity:
Use the Internet to  research a recent
accounting scandal within the past five years related to irregularities in
financial statement reporting.

  • From the e-Activity,
    discuss the major accounting issues, the key motivation behind
    management’s decision to misrepresent the results of their financial
    condition, the main impact to investors, and the method by which the
    scandal was uncovered. Based on the type of revenue manipulation
    perpetrated, suggest key analytical procedures that the auditor should
    develop to detect the accounting abuses in the audits or those of other
    companies. Provide rationale for your suggestions.
  • Discuss the primary
    risk factors and motives that would have the most impact on the decision
    of a company’s management team to commit the impropriety. Based upon the
    risk factors identified, make a recommendation or the types of internal
    controls that should be implemented to prevent or detect the impropriety.
    Be specific with your recommendations.

Please
make sure that the bullet point and solution is together, and make solution at least
a paragraph long.