Date of Graduation
Honors Research Project
Bachelor of Science in Accounting
Dr. Li Wang
Dr. Susan Hanlon
Dr. Pamela Keltyka
This paper delves into the fraud committed by Adelphia Communications for fiscal year 2001. Former Adelphia owner, the Rigas family’s background is scrutinized in an effort to understand how an environment fostering the ideals of financial statement fraud was created. The fraud itself is analyzed to uncover the potential warning signs that were available to then auditor, Deloitte. The audit process is outlined to determine where audit risk was greatest, and how audit guidelines in place at the time may have been ineffective in helping auditors to mitigate such risks. Audit guidelines in place at the time are then compared to standards in place today to formulate an effective guide for auditors to utilize in effectively mitigating audit risk in the presence of a high-risk client.
Lieb, Alyssa, "Related Parties: Audit Risk When 63 Entities Act as One" (2016). Honors Research Projects. 341.