The Securities and Exchange Commission (SEC) regulates public companies. The SEC has found that some of these companies have violated GAAP by using creative accounting practices to mislead investors and creditors regarding the health of their company.
Use the Internet to research a recent accounting scandal within the last five (5) years where the SEC accused public companies of accounting irregularities. Write a three to four (3-4) page paper in which you: 1.Analyze the audit report that the CPA firm issued. Ascertain the legal liability to third parties who relied on financial statements under both common and federal securities laws. Justify your response. 2.Speculate on which statement of generally acceptable auditing standards (GAAS) that the company violated in performing the audit. 3.Compare the responsibility of both management and the auditor for financial reporting, and give your opinion as to which party should have the greater burden. Defend your position. 4.Analyze the sanctions available under SOX, and recommend the key action(s) that the PCAOB should take in order to hold management or the audit firm accountable for the accounting irregularities. Provide a rationale for your response. 5.Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
A Virtuous Moral Character The advancement of an ethical character is a scholarly subject that has been contended for a long time. Numerous rationalists have contended the purpose of their reality with the perplexity of this subject. This has enabled the thinkers to approach this theme in different ways. These thinkers are Aristotle (in the Nicomachean Ethics), Confucius (in Analects) and Plato (in Apology, Phaedo). To examine these logicians fundamentally, it is imperative to assess their point of view contentions and what they are endeavoring to state. In the wake of instating thoroughly analyze of these savants, we will be in the situation of building up to what they concur or differ with respect to the advancement of an ethical character. An ethical character is characterized as a thought in which one is special and can be recognized from others. Maybe it can gather characteristics and attributes that are not quite the same as different people. It infers to how people act, or how they convey what needs be. In another words, it is "human magnificence," or exceptional contemplations of a character. At the point when the idea of goodness is talked, this would underline the peculiarity or claim to fame, however everything includes the blend of characteristics that make an individual the manner in which the person is. In light of this definition, the knowledge of an ethical character can be seen in an unexpected way. Despite the fact that these rationalists veer with their contentions, they in some sense have likenesses. These likenesses will indicate how the matter of a character is essential and critical to the human instinct. Nicomachean Ethnics is a noteworthy work written in 350 B.C by Aristotle. His work was centered around the significance of improvement and conduct among ethical characters. Aristotle illuminated the significance of ethnical conduct, and how activities assume a job in which an individual performs. "Eudaimonia," is in respect to the how an ethical character creates. It is an end in itself. Aristotle contended that it was known as an objective of a sound life. Aristotle is among the savants whom gave an extraordinary understanding of a righteous character. He states, "Greatness [of character], at that point, is a state worried about decision, lying in a mean with respect to us, this being controlled by reason and in the manner by which the man of useful astuteness would decide it. Presently it is a mean between two indecencies, which relies upon abundance and that which rely upon deformity." A character is a state, while, the activities decide the manner in which the individual demonstrations. A temperate character isn't an inclination or insignificant propensity to carry on with a particular goal in mind. Aristotle makes a contention about various temperances. Ethics identify with the emotions and activities from every person. For instance, the goodness of a casual individual might be elucidated with awful temper. Moreover, Aristotle contended that individuals get furious at specific things and repetitively venturing up to what the individual in question believes is correct. Then again, as Aristotle expresses, the lacking of this character is brutal and unsuitable. Despite any circumstance, it is improper to end up furious when it isn't justified, despite any potential benefits. In the case of doing as such, the again shows an inadequate non-upright good character. Aristotle likewise alludes to any non-righteous individual by inward uncertainty and difficulties. Despite the fact that the individual might be resolute or negligent, the person in question must have the capacity to pay special mind to buddies to excuse their activities. Aristotle contends that these awful individuals are not ready to have confidence in themselves. Then again, upright people, gain joy in their activities. "For in talking about a man's character we don't state that he is insightful or has seeing yet that he is great tempered or mild yet we adulate the astute man likewise as for his destiny of psyche; and of perspectives we call those which justify commend ideals." (Nicomachean Ethics 13). Aristotle's positions appears to struggle with Plato's reasoning. Plato will later contended that incontinence happens when an individual's wants move him to advance or act in the manner in which that the person in question needs to perform. Be that as it may, we will examine this later on. Confucius is another conspicuous assume that has been with respect to the cutting edge improvement of an ethical character. Confucius spends numerous years considering the ideas of human generosity and the advancement of a character. His lessons were fundamentally brimming with ethnics on human practices. He talked more on the thoughtfulness of human instead of profound ideas. While focusing on his morals, Confucius was acclaimed for demanding things with a name. In another words, Confucius contended that things must be obvious to one's brain so as to work appropriately in a situation. The Analects composed by Confucius noticed the ideas of ideals and the honest of human graciousness and the best approach to fruitful mankind. In XV.8 of the Analects, Confucius expresses, "The decided researcher and the man of temperance won't look to inhabit the cost of humankind. They will even forfeit their lives to safeguard their humankind. "Confucius contends that the life of an indiviudal is to ensure one's goodness. The demonstrations of that individual must be protected to act to the great. Another adage that substantiate Confucius contention is IV.25 (Eastern), it states, "Uprightness isn't left to remain solitary. He who rehearses it will have neighbors." However, in the western philosophical view, Aristotle contends that the perspective of ethical movement uncovers how the individual adds to an extraordinary life. Activities are critical when one live gently with another. For instance, energy comes into mind with regards to America. Throughout the years, fighters have been associated with their valor. Accordingly, the troopers are battling for what they accept to be their respect, yet they are putting his or her life in threat. Confucius keeps on looking for learning. He is by all accounts extremely insignificant, close knit, and little disapproved. Moreover, he can be common, studious and compassionate. This can be steady with Plato's perspectives. Most social orders and culture makes progress toward goodness, and pioneers have his or her fundamental shared traits for individual conduct, which can be found in VI. 28. This idiom analyzes to Socrates. Confucius, as well, needs to spread the shrewdness to everybody. He needs everybody to be well, not simply himself. In conclusion, another noticeable figure in the realm of rationality is Plato. Plato's works, for example, Apology show sensational records of the occasions prompting his passing, and also outlining issues of concerns, moral living, and unwavering focus and articulation. "Conciliatory sentiment" signifies "legitimate safeguard of preliminary." Plato offers to examine about the barrier of theory as a lifestyle. A spirit is a piece of a real existence, while, the spirit decides the things we do regular. Phaedo outlines essential contentions for individual everlasting status. In Phaedo, Plato contended that the spirit is "an option that is", instead of a feeling of "amicability." Unlike concordance, the spirit exists, which is more dynamic than others. Spirits are increasingly prudent, which amicability does not relate to. Soul pre-exists which concordance does not. Then again, if soul is in a gathering of amicability, all spirits would be as well, which is absurd. Accordingly, soul is a kind of material, which is greatly upgraded than concordance. Another contention that Plato makes can be found in the "Republic." He contended that the spirit is partitioned in three sections, and each part is a sort of want. Individually, these wants are reasonable, appetitive, or lively. To be temperate one must comprehend what is the useful. The individual must want to be instructed legitimately, which will in the end lead to the security from the spirit. Plato delineates the instruction of the spirit in Books II and III. Imperatively, an ethical individual figures out how to live by a superior domain when he is youthful, and proceeds onward to make righteous practices. His activities are created while he is developing and realizes why the thing he is doing is great. When he has taken in the great, at that point he would comprehend why his activities were highminded. Glancing back at Plato's contentions, he contends that ethicalness essentially demonstrates one to act in various ways. These savants differ about having the right thought processes. They are distinctive in which the righteous attributes of a character contrast from their wants and feelings. Savants, for example, Plato and Aristotle contended that the intellectual and full of feeling states were critical. . These logicians concur that bliss connects to ideals. They proposed everybody who is glad is one who is bold, limitation, and comprehension. Be that as it may, it is hard to get it. Plato and Aristotle both concur that a positive good character includes in excess of a Socrates' comprehension of the predominant. Both concur that it is imperative to have agreement between the intellectual and the full of feeling materials from an individual. These savants have a few correlations. They concur that the great existence of a human includes nature. People look to the advancement of individual forces. Besides, they concur that human great includes remedial activities, and an individual can manage his activities by the correct choice, regardless of any obstructions ahead. In the wake of breaking down these savants and their contentions, I have inferred that Aristotle has the all the more convincing depiction for building up an ethical character. Aristotle builds up a more prominent inside and out contention for his focuses. He substantiates his focuses with enthusiasm and magnificence. Be that as it may, it requires solid fixation and a more profound comprehension of what he is attempting to state. As I would like to think, I observe Aristotle to be clearer, and all the more difficult. I likewise find that the more present day lessons of Aristotle to be more understanding than those of the Eastern lessons. Maybe, these include different ideas when Western lessons are included. Aristotle contribute extraordinarily to the numerous points of theory, thus, his contentions are solid which can be identified with our day by day lives. >GET ANSWER