Acct Ethics & Related Reg Issue

Acct Ethics & Related Reg IssueThe PowerPoint presentation must be at least 20 slides in length; 10-12 point font; double-spaced; and include a cover page, introduction, body, summary or conclusion, and works cited slides.Although this is not a scientific-type writing assignment, and is mostly creative in nature, references are still very important. At least six authoritative, outside references are required (anonymous authors or Web pages are not acceptable). These should be listed on the last slide titled “Works Cited” or “References,” depending on the format standard used.Appropriate citations are required throughout the PowerPoint presentation.All DeVry University policies are in effect, including the plagiarism policy.Presentations are due during Week 8 of this course.Suggested MilestonesNote: The only deliverable (in the Dropbox) is the presentation in Week 8. However, to complete this project successfully, it is suggested that you complete the tasks listed below in the weeks noted:Task 1: Read Major Case 4: Cendant Corporation, pages 468-474 (Week 1).Task 2: Answer the questions 1–4 at the end of the case (pp. 468-474) in terms of the concepts we study in Weeks 1 to 7 (through Weeks 2 to 7):Six Pillars of Character and Modern Moral Philosophies (Chapter 1)Professional Judgment in Accounting and the Decision-making Process (Chapter 2)Corporate Governance, Codes of Ethics, and Ethical Management (Chapter 3)Accounting Codes of Conduct and Standards (Chapter 4)Audit Responsibilities and Accounting Fraud (Chapter 5)Legal and Regulatory Obligations in an Ethical Framework (Chapter 6)Earnings Management and the Quality of Financial Reporting (Chapter 7)International Financial Reporting (Chapter 8)Questions1. Briefly summarize the accounting techniques used by Cendant to manipulate financial results. Categorize each technique into one of Schilit’s financial shenanigans.2. Describe the failings of EY with respect to conducting an audit in accordance with GAAS. Include in your discussion any violations of the AICPA Code of Professional Conduct.3. Evaluate the actions of Cendant management with respect to its obligations to shareholders. Did it meet those obligations? Why or why not?4. The corporate governance requirements for Cendant that were stipulated in the class action lawsuit seem to emphasize the need for independence of the board of directors and audit committee. Using the corporate governance provisions in the Sarbanes-Oxley Act and NYSE listing requirements, identify the additional governance requirements that could have been imposed on Cendant. What should they be designed to accomplish?