Description
Utilizing the attached Case 5-7 Diamond Foods Case and Fraud Tringle, AND Utilizing 15 scholarly, peer-reviewed journal articles from the most recent five years (2016 -2021) AND Utilizing 5 other journal articles from the most recent five years (2016-2021):
Write a 15-page paper based upon the instructions below and in the following format utilizing Time New Roman and Size 12 font and full APA -7th Edition format.
Include an abstract, but a table of contents is not required.
Paper One Assignment
Abstract
Pages 1 and 2
Introduction of the paper and case overview
Page 3
Research summary related to business/audit risk
Pages 4 and 5
Research summary related to fraud prevention/corporate
governance
Page 6
Case 5-7 question one response
-Use the Fraud Triangle to analyze the business and audit risks that existed at Diamond Foods during the period of its accounting fraud.
Pages 7 and 8
Research summary related to auditor obligations
Pages 9 and 10
Case 5-7 question two response
– How would you characterize Diamond’s accounting?
– Did they commit an error in recording walnut grower payments?
– Was it an illegal act?
– Was it a fraudulent act?
– For each one, explain the reporting requirements for Deloitte assuming they were aware of the transactions.
Page 11
-Case 5-7 question three response
-What are the auditors’ obligations with respect to accounting estimates and judgements made by management?
-Explain any concerns that should have existed about these areas of the audit.
-Assume that Deloitte was aware of these issues – wouldany of them rise to the level of a critical audit matter? Explain.
Pages 12 – 13
Research summary related to the role of financial analysts
Page 14
Case 5-7 question four response
-Do you think non-GAAP information, such as that provided to financial analysts, should be audited?
-Consider the value of such information to the users of financial reports in answering this question.
Page 15
-Conclusion
Textbook for Case 5-2
Higgins, R.C., Koski, J.L., & Mitton T. (2021). Analysis for financial management (Twelfth).
New York, NY: McGraw-Hill Education.
