Determine key internal control needed over the communication


Assignment: Freescale Semiconductors, Inc.

Review the Freescale Semiconductor case in your textbook.

Prepare a twelve to twenty slide PowerPoint presentation with speaker notes in which you:

1. Give your opinion as to whether or not additional laws and harsher penalties on financial fraud can eliminate or mitigate financial fraud. Support the rationale.

2. Suggest three new strategies that you believe the government can implement to eliminate or mitigate insider trading. Provide a rationale to support the suggestion.

3. In this case study, leaked merger and acquisition information was used to enable the fraud. Determine the key internal controls needed over the communication of confidential information to outside parties, and analyze the manner in which these controls act as a deterrent to fraudulent activities.

4. Pretend you are Donna Murdoch in this case study and propose an alternative plan to act on the leaked information. Next, recommend one strategy to communicate the alternative plan and determine whom the plan should be communicated with. Justify the response.

5. In this case study, E&Y was providing a consulting service to The Blackstone Group related to its planned acquisition of Freescale Semiconductor. Compare and contrast the different auditor's professional responsibilities between consulting engagements and audit engagements.

6. Take a position on whether more legislative and/or regulatory agency oversight will increase or decrease corporate fraud. Provide a rationale to support the position.

Format your assignment according to the following formatting requirements:

1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.

2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.

3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.

The specific course learning outcomes associated with this assignment are:

• Examine the various types of financial fraud and the auditor's responsibilities related to fraud detection.

• Evaluate the legal environment for liability related to financial audits and the proactive activities that a professional may take to prevent litigation.

• Use technology and information resources to research issues in auditing.

• Write clearly and concisely about auditing using proper writing mechanics.

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Risk Management: Determine key internal control needed over the communication
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