Test Controls for Cash Research Essay Paper

Test Controls for Cash Research Essay Paper

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create comprehensive work programs for the Inventory, Warehousing, and Payroll accounts and cycles.

Submit a 700- to 1,050-word document that includes the following:

Audit steps for tests of controls, balances, transactions, analytical procedures, etc. as well as other considerations such as sample size and sample methodology.

A brief summary page should be included in this document, 525 to 700 words, for each of the work programs. Include in this summary specific financial information gleaned from the current Form 10-K used to perform an analysis of work program steps. For example, if the team noted significant swings in the Inventory balance year-over-year, identify these swings and how you address them in your work program (this is in essence an audit procedure – analytical review).

Accounting Paper

FRAUD RISK BRAINSTORMING AT TESLA

Read the following case study:

Hess, M. F., & Angiola, L. M. (2018). Fraud risk brainstorming at Tesla Motors (Links to an external site.). Issues in Accounting Education, 33(2), 19–34.

Case Requirements:

In a paper, address the following questions.

Fraud risks related to Tesla’s culture, leadership, and governance structure.

How would you describe the ‘‘tone at the top’’ set by Tesla’s leader, Elon Musk? How do Mr. Musk’s leadership style and his ‘‘tone at the top’’ contribute to possible fraud risk at Tesla Motors?

How would you describe the company’s culture? How might this culture create pressures and rationalizations for fraud?

Review Tesla’s Code of Business Conduct and Ethics (see ‘‘Tesla’s Code of Business Conduct and Ethics’ (Links to an external site.)’). How might any potential weaknesses in this code contribute to fraud risk at this company?

Describe some possible concerns regarding Tesla’s board of directors. How might these concerns create opportunities and rationalizations for fraud?

Fraud risks related to Tesla’s incentive structures and stock performance.

To what extent are executives and employees incentivized with shares and stock options? [See Tesla’s 2015 Annual Report (Links to an external site.), Item 7 Management’s Discussion and Analysis (MD&A) and Item 8 Financial Statements and Supplementary Data section, Note 10.]

How do these pay structures create pressures/incentives for fraud?

Review Tesla’s stock performance over the last two years (refer to Exhibit 3 in the article). What fraud pressures are created by this stock performance?

Fraud risks indicated by the results of preliminary analytical procedures.

What fraud risks may be indicated by the year-to-year comparisons of Tesla’s financial statements? (Refer to Exhibits 1 and 2 in the article.) Be specific.

How does the company perform relative to its peers? (Refer to Exhibit 4 in the article.) Do these ratios and trends seem reasonable? Be specific.

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