Evaluate the level of SOX regulations that applies to for-profit and not-for-profit health care organizations

accounting

Description

Assignment 2: Accounting and Audit Enforcement
Due Week 7 and worth 300 points

Using the Internet, Strayer databases, or the Securities and Exchange Commission’s Website, located at http://www.sec.gov/divisions/enforce/friactions/friactions2012.shtml, perform a search on several U.S. health care publicly-traded companies and choose a health care organization that has been accused of committing health care fraud.

Write a five to six (5-6) page paper in which you:

1.       Evaluate the level of SOX regulations that applies to for-profit and not-for-profit health care organizations, indicating whether or not mandating SOX requirements for non-profits might reduce fraud and increase corporate governance. Provide support for your rationale.

2.       Determine whether SOX has been effective in regulating ethical behavior of for-profit health care organizations. Defend your position.

3.       Review the audit report issued by the external auditing firm from the company's Website for the year it was accused of fraud. Then, determine whether the external auditors were negligent in preparing the audit report for the company. Formulate an opinion regarding which Internal Control was deficient or what GAAP was violated. Defend your position.

4.       Determine what provision(s) of SOX was / were violated in the health care fraud case in question. Indicate whether or not SOX adequately provides sanctions to deter the behavior or if changes are needed to the regulations to remedy the issue(s) and thus ensure compliance.

5.       Based on the fraudulent activity that occurred, recommend two (2) improvements to the internal control environment to reduce those occurrences. Provide detailed recommendations.

6.       Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

·         Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

·         Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

·         Evaluate internal controls within an organization and create a risk assessment.

·         Analyze ethical theories to evaluate a decision-making process to determine compliance with professional codes of ethics.

·         Evaluate the health of organizations to assess the level of risk in an audit engagement.

·         Evaluate financial data for potential fraud and prepare an audit approach for detecting fraud.

·         Assess the risk of financial misstatement in an IT-based environment.

·         Use technology and information resources to research issues in accounting management.

·         Write clearly and concisely about accounting management using proper writing mechanics.

 

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 300

Assignment 2: Accounting and Audit Enforcement

Criteria

Unacceptable

Below 70% F

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Evaluate the level of SOX regulations that applies to for-profit and not-for-profit health care organizations, indicating whether or not mandating SOX requirements for non-profits might reduce fraud and increase corporate governance. Provide support for your rationale.

Weight: 20%

Did not submit or incompletely evaluated the level of SOX regulations that applies to for-profit and not-for-profit health care organizations, indicating whether or not mandating SOX requirements for non-profits might reduce fraud and increase corporate governance. Did not submit or incompletely provided support for your rationale.

Partially evaluated the level of SOX regulations that applies to for-profit and not-for-profit health care organizations, indicating whether or not mandating SOX requirements for non-profits might reduce fraud and increase corporate governance. Partially provided support for your rationale.

Satisfactorily evaluated the level of SOX regulations that applies to for-profit and not-for-profit health care organizations, indicating whether or not mandating SOX requirements for non-profits might reduce fraud and increase corporate governance. Satisfactorily provided support for your rationale.

Thoroughly evaluated the level of SOX regulations that applies to for-profit and not-for-profit health care organizations, indicating whether or not mandating SOX requirements for non-profits might reduce fraud and increase corporate governance. Thoroughly provided support for your rationale.

2. Determine whether SOX has been effective in regulating ethical behavior of for-profit health care organizations. Defend your position.
Weight: 15%

Did not submit or incompletely determined whether SOX has been effective in regulating ethical behavior of for-profit health care organizations. Did not submit or incompletely defended your position.

Partially determined whether SOX has been effective in regulating ethical behavior of for-profit health care organizations. Partially defended your position.

Satisfactorily determined whether SOX has been effective in regulating ethical behavior of for-profit health care organizations. Satisfactorily defended your position.

Thoroughly determined whether SOX has been effective in regulating ethical behavior of for-profit health care organizations. Thoroughly defended your position.

3. Review the audit report issued by the external auditing firm from the company's Website for the year it was accused of fraud. Then, determine whether the external auditors were negligent in preparing the audit report for the company. Formulate an opinion regarding which Internal Control was deficient or what GAAP was violated. Defend your position.

Weight: 15%

Did not submit or incompletely reviewed the audit report issued by the external auditing firm from the company's Website for the year it was accused of fraud; did not submit or incompletely determined whether the external auditors were negligent in preparing the audit report for the company. Did not submit or incompletely formulated an opinion regarding which Internal Control was deficient or what GAAP was violated. Did not submit or incompletely defended your position.

Partially reviewed the audit report issued by the external auditing firm from the company's Website for the year it was accused of fraud; partially determined whether the external auditors were negligent in preparing the audit report for the company. Partially formulated an opinion regarding which Internal Control was deficient or what GAAP was violated. Partially defended your position.

Satisfactorily reviewed the audit report issued by the external auditing firm from the company's Website for the year it was accused of fraud; satisfactorily determined whether the external auditors were negligent in preparing the audit report for the company. Satisfactorily formulated an opinion regarding which Internal Control was deficient or what GAAP was violated. Satisfactorily defended your position.

Thoroughly reviewed the audit report issued by the external auditing firm from the company's Website for the year it was accused of fraud; thoroughly determined whether the external auditors were negligent in preparing the audit report for the company. Thoroughly formulated an opinion regarding which Internal Control was deficient or what GAAP was violated. Thoroughly defended your position.

4. Determine what provision(s) of SOX was / were violated in the health care fraud case in question. Indicate whether or not SOX adequately provides sanctions to deter the behavior or if changes are needed to the regulations to remedy the issue(s) and thus ensure compliance.

Weight: 15%

Did not submit or incompletely determined what provision(s) of SOX was / were violated in the health care fraud case in question. Did not submit or incompletely indicated whether or not SOX adequately provides sanctions to deter the behavior or if changes are needed to the regulations to remedy the issue(s) and thus ensure compliance.

Partially determined what provision(s) of SOX was / were violated in the health care fraud case in question. Partially indicated whether or not SOX adequately provides sanctions to deter the behavior or if changes are needed to the regulations to remedy the issue(s) and thus ensure compliance.

Satisfactorily determined what provision(s) of SOX was / were violated in the health care fraud case in question. Satisfactorily indicated whether or not SOX adequately provides sanctions to deter the behavior or if changes are needed to the regulations to remedy the issue(s) and thus ensure compliance.

Thoroughly determined what provision(s) of SOX was / were violated in the health care fraud case in question. Thoroughly indicated whether or not SOX adequately provides sanctions to deter the behavior or if changes are needed to the regulations to remedy the issue(s) and thus ensure compliance.

5. Based on the fraudulent activity that occurred, recommend two (2) improvements to the internal control environment to reduce those occurrences. Provide detailed recommendations.

Weight: 20%

Did not submit or incompletely recommended two (2) improvements to the internal control environment to reduce those occurrences, based on the fraudulent activity that occurred. Did not submit or incompletely provided detailed recommendations.

Partially recommended two (2) improvements to the internal control environment to reduce those occurrences, based on the fraudulent activity that occurred. Partially provided detailed recommendations.

Satisfactorily recommended two (2) improvements to the internal control environment to reduce those occurrences, based on the fraudulent activity that occurred. Satisfactorily provided detailed recommendations.

Thoroughly recommended two (2) improvements to the internal control environment to reduce those occurrences, based on the fraudulent activity that occurred. Thoroughly provided detailed recommendations.

6. 4 references

Weight: 5%

No references provided

Does not meet the required number of references; some or all references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

7. Clarity, writing mechanics, and formatting requirements

Weight: 10%

More than 6 errors present

5-6 errors present

3-4 errors present

0-2 errors present

 

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