Expert answer:​Assignment 2: Litigation, Censures, and Fines

Solved by verified expert:Assignment 2: Litigation, Censures, and FinesResearch the Internet for recent litigation, censures, and fines involving national public accounting firms. Examples of litigation cases against national public accounting firms include fines by regulatory authorities and censures by professional societies.Write a three to four (3-4) page paper in which you:Analyze the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Provide support for your rationale.Examine the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.Evaluate the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.Identify specific conduct violations committed by the organization and accounting firm in question. Next, create an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.Make a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Provide support for your rationale.Use two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic 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 business situations to determine the appropriateness of decision making in terms of professional standards and ethics.Use technology and information resources to research issues in accounting.Write clearly and concisely about accounting 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.Click here to view the grading rubric.Assignment 2: Litigation, Censures, and FinesCriteriaUnacceptableBelow 60% FMeets Minimum Expectations60-69% DFair70-79% CProficient80-89% BExemplary90-100% A1. Analyze the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Provide support for your rationale.Weight: 15%Did not submit or incompletely analyzed the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Did not submit or incompletely provided support for your rationale.Insufficiently analyzed the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Insufficiently provided support for your rationale.Partially analyzed the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Partially provided support for your rationale.Satisfactorily analyzed the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Satisfactorily provided support for your rationale.Thoroughly analyzed the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Thoroughly provided support for your rationale.2. Examine the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.Weight: 15%Did not submit or incompletely examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.Insufficiently examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.Partially examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.Satisfactorily examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.Thoroughly examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.3. Evaluate the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.Weight: 15%Did not submit or incompletely evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.Insufficiently evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.Partially evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.Satisfactorily evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.Thoroughly evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.4. Identify specific conduct violations committed by the organization and accounting firm in question. Next, create an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.Weight: 20%Did not submit or incompletely identifiedspecific conduct violations committed by the organization and accounting firm in question. Did not submit or incompletely created an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.Insufficiently identifiedspecific conduct violations committed by the organization and accounting firm in question.Insufficientlycreated an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.Partially identifiedspecific conduct violations committed by the organization and accounting firm in question.Partially created an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.Satisfactorily identifiedspecific conduct violations committed by the organization and accounting firm in question.Satisfactorilycreated an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.Thoroughly identifiedspecific conduct violations committed by the organization and accounting firm in question.Thoroughlycreated an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.5. Make a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Provide support for your rationale.Weight: 20%Did not submit or incompletely made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Did not submit or incompletely provided support for your rationale.Insufficiently made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Insufficiently provided support for your rationale.Partially made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Partially provided support for your rationale.Satisfactorily made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Satisfactorily provided support for your rationale.Thoroughly made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Thoroughly provided support for your rationale.6. 2 referencesWeight: 5%No references providedDoes not meet the required number of references; all references poor quality choices.Does not meet the required number of references; some references poor quality choices.Meets number of required references; all references high quality choices.Exceeds number of required references; all references high quality choices.7. Clarity, writing mechanics, and formatting requirementsWeight: 10%More than 8 errors present7-8 errors present5-6 errors present3-4 errors present

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