Discuss the reasons for audit failure and loss of public trust in the audit profession. Your paper should include specific reference to “current cases

Topic: Discuss the reasons for audit failure and loss of public trust in the audit profession. Your paper should include specific reference to “current cases” (within the past three years). as well as the Public Company Accounting Oversight Board’s (PCAOB) reviews of audit firms’ performance on public company audits.

Your paper must be 4,000 words ( +- 10%) long,(excluding cover page and references) properly researched, written and cited using the Harvard Referencing Guide. Your paper will be carefully examined for plagiarism by submission through plagiarism software and must not exceed a 15% plagiarism percentage. The higher the plagiarism percentage the lower your score will be. A good paper will be more analytical than descriptive and have the following characteristics:

1. Strong introduction describing the scope and objectives of the paper

2. Overview of current auditing practice in the US and its territories

3. Identification of the key areas of the code of ethics that apply to auditing practice

4. Structured analysis of the impact of these areas on auditing practice

5. Creativity of thought

6. Good presentation including clarity of expression and citations

7. Strong conclusion that summaries the major elements of the paper