Industry best practices in a recommendation
select a different company than in the prior assignments and one that was recently exposed to financial fraud. The fraud could be an internal or external type of financial fraud; it is strictly a financial type of fraud. You will evaluate how financial information could have helped early detection of the financial fraud, and how auditing procedures would have helped to mitigate financial risk. You will develop a recommendation for a strategy to develop auditing and monitoring procedures that will improve efficiency, monitoring, controlling, and corporate financial governance practices and also influence financial governance policies. You will address potential risks for ethic violations and how the new procedures will mitigate the risk and justify why these procedures will increase efficiency, monitoring, controlling, and corporate governance.
Write a 4–5 page paper in which you:
Describe a selected company, its operations, and its associated industry that recently was subjected to financial fraud and evaluate these areas for strengthening corporate financial governance practices.
Evaluate in detail the financial fraud the selected company was exposed to, citing errors in financial operations, applications of accounting procedures, and lack of accounting oversight that includes any potential unobserved deficiencies.
Recommend a detailed strategy for a selected company with at least three integrated solutions for auditing and monitoring procedures to improve corporate governance of the company’s finances and mitigate financial fraud risk for the company.
Evaluate potential risks in the selected company for ethics violations and how the integrated solutions for auditing and monitoring procedures will mitigate the risk and that is supported with a justification for reducing the risk.
Evaluate at least two industry best practices in a recommendation to the selected company to adopt in its financial governance policies that would increase ethical standards and enhance corporate governance practices.