Week 5 Discussions

Absolutely no plagiarism, must be original and very thorough. Please make sure everything is followed in the question and the grading rubric. Assigned article is attached, please also use at least one other academic resource. Must include in-text citations. These 2 discussion questions do not need a cover page and can be single spaced but should be separate.

Supporting material: Attached

Question #1: To prepare for this week’s 3-part discussion, please go to the case that you read for this week, “Financial Reporting Problems at Molex, Inc.,” and review it again before you answer the following:

Consider the situation at Molex, Inc.; why were the auditors so concerned by management’s failure to disclose what appeared to be a small amount in the management representation letter?

What determines whether a financial reporting issue is ‘material’?

What should the board do?

Question #2: Suppose for a moment that you are the Chief Auditor for a team of independent auditors for a large multinational. What is your greatest worry (nightmare scenario)? What do you do to try to prevent it?

How do those concerns impact your relationship with the board of directors and the senior management team? What would you NOT want to do?

Please see grading rubric below. This assignment should be at least 5-6 paragraphs long per question and very thorough. Make sure you integrate real-life applications to support key points.

Case Discussion Rubric (2016)

Case Discussion Rubric (2016)

Criteria

Ratings

This criterion is linked to a Learning Outcome Quality of Initial Posting

Initial response displays an excellent understanding of the assigned case, the course readings, and the underlying concepts and includes the correct use of relevant terminology. Initial response additionally integrates specific real-life application (current events, work or personal experience, prior coursework, etc.) and/or other peer-reviewed research to support key points. Initial response is clear, concise, and compelling.

This criterion is linked to a Learning Outcome Mechanics

Entirely free of mechanical errors. These include: grammar, punctuation, spelling, and formatting (font style and size).