Write a summary paper on the case/scenario I have provided below. Include in your paper the potential impact of a multi-million dollar organizational financial statement fraud, and how such an event would affect internal employees and their morale as well as the local economy.
You are to consider the unemployment factors of your 500 plus entry-level employees that are likely to be laid off. There are 150 managers that have major compensation packages in excess of one million dollars which includes annual bonuses in addition to their already excessive salaries that are tied into the financial performance of the company.
If the Managers retire now they can leave with their bonuses and an additional one million dollar guaranteed salary. If they do not leave they must wait until the financial statements are complete which prove to show profits at their highest level ever in the history of the organization yielding each of the top one hundred managers nearly $2.5 Million in base salary for the year, plus their one million dollar bonus guaranteeing a 3.5 million salary versus the 3.0 million if they retire early. However, if there proves to be financial statement fraud you as the Corporate Financial Internal Auditor and Certified Fraud Examiner need to understand what the repercussions are to both those managers who leave early and take the $3.0 and those who stay for the bonus and performance-based pay of $2.5 Million plus $1.0 Million.
How do you handle this situation, what do you say to your 500 plus employees about their jobs, their retirement funds, and their pension savings? Keep in mind, when large organizations commit financial statement fraud in such large amounts (multi-million, multi-billion) they are often depleting employee saving accounts and pension funds to replenish funds they do not have readily available. Just before the organization is ready to fail executives start putting out false rumors in an attempt to save the firm and generate interest in their stock (insider trading); however it never works by then and the company collapses.
Assignment Length: 3-5 pages double spaced.
You must include at least 3 reference citations.
You must use APA writing style. For additional information regarding APA style, you can reference https://owl.english.purdue.edu/owl/resource/560/01/.
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