Act 560 Mod 5 Critical Thinking

Case study: Wirecard’s Billion-Dollar Accounting Fraud

Read the transcripts or listen to the podcast titled “Behind the Scenes of Wirecard’s Billion-Dollar Accounting Fraud” (linked in references below)

• Evaluate the actions and ethical breach of the Wirecard’s leadership.
• Describe how the tone at the top contributed to this fraudulent activity.
• Describe how various stakeholders (employees, stockholders, and the community) were affected by the actions of Wirecard leadership.
• How did the Audit Committee and Board fail in their responsibilities?
• Audit regulation requires the audit team to assess the fraud risk associated with each engagement. What characteristics of Wirecard might have caused it to be identified as a high-risk audit? Consider the incentives, rationale, and opportunities for fraud in the assessment.

Requirements:

• Your written paper should be 3-4 pages in length not counting the title and reference pages, which you must include.
• You need to cite at least three sources for this assignment, outside of the podcast itself.
• Your paper must be formatted according to APA guidelines

Reference:

Wilder, M. (Host). (2020, September 29). Behind the scenes of Wirecard’s billion-dollar accounting fraud [No. 100]. ACFE.

https://www.acfeinsights.com/acfe-insights/fraud-talk-behind-the-scenes-of-wirecards-billion-dollar-accounting-fraudLinks to an external site.