Papers on "Management and Auditors" and similar term paper topics

Paper #054358 :: Management and Auditors
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A look at the responsibilities of management, auditors, and the public perception.

Written in 2004; 1,109 words; 5 sources; MLA; $ 38.95

Paper Summary:

This paper examines how a series of high-profile business melt-downs in 2001, led by the Enron scandal ,have put the roles and responsibilities of the corporate management and the auditors in sharp focus. It looks at how the public outcry against the necessity of preventing such crises in future has led to stricter regulation and extensive debate about the responsibilities of the management and the auditors. It attempts to explain management?s role and responsibilities versus that of the auditors and also discusses how the public?s perception of the auditor?s duties have differed over time.

Outline
The Management?s Responsibilities
The Auditors? Responsibilities
Public?s Perception of the Auditor?s Duty

From the Paper:

"Although the auditors role as the corporate ?watchdog? is desirable for ensuring compliance with the prescribed accounting standards, it must be remembered that the internal auditors and the audit committees role in detecting and preventing financial irregularities is limited unless the management facilitates their functioning. Some experts such as Manuel A. Tipgos feel that it is not possible to stop management fraud unless the management voluntarily imposes its code of ethics on itself since it owns the internal audit and the audit committees. (35-36). The Sarbanes-Oxley Act attempts to remedy this situation by expanding the role of the audit committee and making it responsible for appointing and overseeing the performance of the internal auditors. It also prohibits the auditors from performing non-audit functions for their audit clients."

Tags: watchdog regulation enron

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