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Please read the article "Crazy Eddie" and watch the YouTube video, link below. Respond to the following questions in 5 sentences or more. No plagiarism or google copy and paste 1. According to the article, how did Crazy Eddie fool young auditors? 2. Given what you know about the correlation between inventory and net income, why was Crazy Eddie trying to overstate ending inventory? 3. Was Penn & Horowitz really an independent audit firm? What compromised their independence from Crazy Eddie? What were the consequences? 4. What tactics did Eddie use to steal money? 5. According to the article, when did Eddie's scheme begin to unravel?

Date Posted: 31/10/2020
Category: Finance
Due Date: 04/11/2020
Instruction
Please read the article "Crazy Eddie" and watch the YouTube video, link below. Respond to the following questions in 5 sentences or more. No plagiarism or google copy and paste accepted. Only use the sources provided for this assignment. 1. According to the article, how did Crazy Eddie fool young auditors? 2. Given what you know about the correlation between inventory and net income, why was Crazy Eddie trying to overstate ending inventory? 3. Was Penn & Horowitz really an independent audit firm? What compromised their independence from Crazy Eddie? What were the consequences? 4. What tactics did Eddie use to steal money? 5. According to the article, when did Eddie's scheme begin to unravel? 6. What is a white-collar criminal, and according to Antar, why do they commit crimes? 7. Antar said that they had to fool the auditors in his time, while today it seems as if the accounting firms are co-conspirators. What does he mean by this and what examples does he give to prove his point? 8. What is the JOBS act and how does Antar feel about it? 9. What tips does Antar give to prevent fraud? 10. What advice does Jonathon Marks give to auditors?
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