• Research a company that has been in the news for unethical practices, such as Enron, Tyco,
Global Crossing, or WorldCom.
• Post a 250- to 300-word response that summarizes your ideas about the following:
o What was the nature of the controversy regarding this company’s practices?
o How were accounting practices involved?
o If you had been an accountant for this company, how would you have acted? Explain
o What might have been done to prevent the controversy?
o What was the affect of unethical behavior on the profitability of the company?
CheckPoint: Regulatory Bodies
• Post your response to the following question, using 250 to 300 words: What are the major
regulatory bodies and their functions?
Assignment: Internal Controls
• Write a 750- to 1,050-word paper in APA format, including citations and references,
summarizing your ideas about internal controls.
• Include the following:
o An introduction to internal controls, explaining in your own words the two primary goals of
o A description of how the Sarbanes-Oxley Act of 2002 has affected internal controls
o An explanation of why a company that announces deficiencies in its internal controls
would probably experience a fall in the price of its stock
o A synopsis of what you consider to be the limitations of internal controls – Cite specific
o A conclusion that summarizes your main points
o A comparison of the internal control principles of (1) establishing responsibility, (2) using
physical, mechanical, and electronic controls, (3) segregation of duties, and (4)
independent internal verification.
• Post your completed paper as an attachment.