Accounting Fraud and Detection
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Please find an article detailing a recent accounting fraud. Summarize your findings and discuss with your friends or classmates how the situation should have been managed by the accountant. Please include in your summary a discussion of "...encouraging the continual search for truth, values, and a just existence," and answer the question "how should we live?"
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Solution Summary
This solution discusses recent accounting frauds found in a current article. This solution also discusses the statement, "...encouraging the continual search for truth, values, and a just existence," and answer the question "how should we live?"
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Ahh, the good old Regis philosophy that is part of almost every class! (You'll never want to see the question "how should we live?" after graduation, trust me).
For this question, I would use the recent story that came out of HP. Here is a link to a brief version of the story:
http://www.businessinsider.com/hp-accounting-fraud-and-business-outlook-2012-11
If you Google "Autonomy fraud" you will be given a list of sites regarding this story. Basically, here's what happened:
HP decided to purchase tech giant Autonomy for $11.1 billion back in 2011. As with any other acquisition, merger, or buyout, the accountants, attorneys, consultants, etc. from the acquiring company go over the books, records, and documents of the target company in scrupulous detail (or they should). This makes sense, especially considering the price tag in ...
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