ACC 3910 - ACCOUNTANTS AS WHISTLEBLOWERS?

credits: 3.0
Is an examination of the accounting profession’s response to the recent corporate accounting scandals and what has been called the expectation gap- the difference between the public’s perception of the role if the independent auditor and the actual requirements imposed by professional standards. Students will study the professional standards adopted by the accounting profession in response to this public criticism and will review relevant professional literature published before and after the adoption of those standards. Case studies based on U.S. corporations will give students the opportunity to use real life examples as a means of understanding and evaluating the adequacy of disclosure by management and independent auditors. Objectives: Intended to provide the student with an in-depth understanding of the accounting profession’s role in informing and protecting investors and the public. Students will have the opportunity to use practical examples to examine the extremely difficult decisions that often face both management and the independent auditors when they are reporting on the financial condition of publicly held companies. Particular emphasis on situations where fraud has been discovered and-or it is possible that the company will not continue as a going concern. Method of Instruction: Discussion and case study analysis. Method of Evaluation: Preparation of illustrative case study to be completed by the entire class, 25%; case study (to be done in groups approved by the instructor), 50%; class participation, 10%; and final examination, 15%.

Prerequisite(s): ACC 3541 - INTERMEDIATE ACCOUNTING II