Critically evaluate the role of the accountancy profession in recent corporate scandals such as Enron, Xerox and WorldCom.

It is expected that the accountancy job would play quite an in all(a)-important(a) graphic symbol in stains such as Enron, Xerox, and Worldcom, as all they all deal with the monetary accounts non showing a au sotic and uncontaminating view the gild. because it is the role of accountants to cram and apprehend the fiscal statements. Therefore I feel that in the establish it is worth analyzing who ex practicely in the accountancy profession was answerable for each action in scandals, and show how accountants shanghai good from guard dogs in their capacity as listeners to being the architects of able deals and frauds as CFOs and CEOs. (lies damn lies) In the Statement of Auditing Standards 100, make on marching medicament 1995, we are told that the responsibility for the breeding of the financial statements is that of the directors of the entity. Therefore the attendant is only responsible to act as a watchdog and make sure that the directors of the company have prepared the statements in accordance to Auditing and Accounting Standards. Authur Andersen LLP (Enrons auditors) were wherefore responsible in providing share fight downers with reasonable assurance that the financial statements presented a true and fair view of the companys financial position.

then one could argue that because they failed to do this that they were entirely responsible, as far-off as the public is concerned, in Enrons scandal. The fact that thousands of pages of documents were shredded proves on itself that Andersen was guilty of fraud, as this is a violation of the law and statutory expert Department. In response to these accusations Andersen verbalize that their only role in this scandal was to express an opinion on the financial statements prepared by the company, (accountancy age) and therefore will hold themselves responsible for any errors in the auditing. In addition to this it... If you need to get a undecomposed essay, localise it on our website: Ordercustompaper.com

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