AQ XXXXXXXXXXFOACC Individual Assignment XXXXXXXXXXPage 1 of 3
APU Level XXXXXXXXXXAsia Pacific University of Technology & Innovation XXXXXXXXXX XXXXXXXXXX
Instructions:
1. You should have a minimum of 12 references to substantiate your research and
assignment writing. You are REQUIRED to use APA referencing for this assignment.
2. The assignment should be well-structured and the use of proper paragraphs for topic
separation is encouraged. The assignment should not exceed 2,000 words.
3. The assignment must adhere to academic documentation standards:
▪ Font Type: Times New Roman
▪ Font Size: 12pts
▪ Line Spacing: 1.5-line spacing
4. You are required to submit your assignment via Online submission in Moodle, into the
intake-specific folder “Individual Assignment”.
5. The Turnitin percentage should not exceed 20%. The plagiarism case will be penalized.
AQ XXXXXXXXXXFOACC Individual Assignment XXXXXXXXXXPage 2 of 3
APU Level XXXXXXXXXXAsia Pacific University of Technology & Innovation XXXXXXXXXX XXXXXXXXXX
QUESTION 1
The stock and bond markets are critical components of a capitalist economy. The efficiency,
liquidity, and resiliency of these markets depend on the ability of investors, lenders, and
egulators to assess the financial performance of businesses that raise capital. Financial
statements prepared by such organizations play a very important role in keeping capital markets
efficient. They provide meaningful disclosures of where a company has been, where it is
cu
ently, and where it is going. Most financial statements are prepared with integrity and
present a fair representation of the financial position of the organization issuing them. These
financial statements are based on generally accepted accounting principles (GAAP), which
guide the accounting for transactions. Unfortunately, financial statements are sometimes
prepared in ways that intentionally misstate the financial position and performance of an
organization. Such misstatements can result from manipulating, falsifying, or altering
accounting records. Misleading financial statements cause serious problems in the market and
the economy. They often result in large losses for investors, lack of trust in the market and
accounting systems, and litigation and emba
assment for individuals and organizations
associated with financial statement fraud. Some of the popular financial statement fraud cases
are as follows:
1. The Sunbeam Corporation;
2. Luckin Coffee Inc.;
3. The WorldCom;
4. Satyam Computer Services;
5. Enron Corporation.
REQUIRED:
(a) Choose ONE (1) of the fraud cases above and interpret by discussing comprehensively
the background, perpetrators, modus operandi, and final judgment/verdict of the case.
(20 marks)
(b) Interpret FOUR (4) harmful impacts from the chosen case to the company, shareholders,
and other affected stakeholders.
(20 marks)
AQ XXXXXXXXXXFOACC Individual Assignment XXXXXXXXXXPage 3 of 3
APU Level XXXXXXXXXXAsia Pacific University of Technology & Innovation XXXXXXXXXX XXXXXXXXXX
(c) As a Forensic Accountant, analyze FIVE (5) internal control and governance weaknesses
which resulted in the collapse of the chosen company.
(60 marks)
(Grand Total: 100 marks)
END OF QUESTION PAPER