Sunbeam Fraud – ONLINE Discussion (4 questions only)
Question Description
Please answer the following in response to the company Sunbeams Accounting Fraud:
- Do you believe that accounting tricks such as “cookie jar” reserves and “channel stuffing” contributed to the downfall of Sunbeam? Why or why not?
- Where were the accountants?
- Do you believe the companies or accountants were blackmailed into settlement with regulators? (Explain)
- How can we, as accountants, protect the public?