MF Global

Use the Internet to research current events regarding MF Global prior to starting this assignment.

Write a four to six (4-6) page paper in which you:

1. Discuss the key difference between conducting a financial audit and a fraud audit, and the related level of responsibility of the auditing firm.
2. After the recent bankruptcy declaration of MF Global, the Chairman and CEO, Jon Corzine, indicated that he had no knowledge of the missing customer funds. Discuss the obligation of corporate CEOs to shareholders and employees ―to know‖ about the financial activity of the corporation.
3. Analyze how complex global instruments contributed to the fraud and the failure of it to be detected by regulators and auditors of MF Global.
4. Discuss what measures can and should be taken to make it easier for corporate employees to ―blow the whistle‖ on a fraudulent scheme within an organization.
5. Evaluate whether businesses, accounting firms, and other organizations should explicitly reward ethical behavior by their employees and executives.
6. Use three (3) external sources as part of your assignment.