Date of Last Revision
Bachelor of Science in Accounting
Date of Expected Graduation
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.
Dr. Li Wang
Dr. Susan Hanlon
Dr. Pamela Keltyka
Lieb, Alyssa, "Related Parties: Audit Risk When 63 Entities Act as One" (2016). Williams Honors College, Honors Research Projects. 341.