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Analyzation Of Audit Procedures In The Wake Of The Early 2000s Accounting Scandals, Zachary Byar
Analyzation Of Audit Procedures In The Wake Of The Early 2000s Accounting Scandals, Zachary Byar
Theses/Capstones/Creative Projects
Enron, WorldCom, and Tyco International were companies that operated in different industries and had different levels of net profit for decades. However, these companies had one pivotal thing in common: accounting fraud. In the early 2000s, accounting scandals from large companies created a major impact on the financial markets, causing Congress to take action to increase investor protection through the origination of the Sarbanes-Oxley Act of 2002. The Act was meant to restore investor confidence through strengthened disclosures and auditing requirements for public corporations. However, even with the creation of this new Act from Congress, fraud is still prevalent today, …