But wait…..there’s more………

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Already struggling to rebuild its reputation after disclosing the creation of fraudulent bank accounts, the New York Times indicates that Wells Fargo may soon release information about even more fraudulent account creation.

Questions:
1. Based on the new investigation, how many accounts were found and over what period?
2. What is the new regulatory issue looming for Wells Fargo?
3. How have these issues affected Well Fargo’s stock price?

Source:
Cowley, S. (2017). Wells Fargo May Have Found More Fake Accounts Created by Employees. The New York Times, Aug. 4 (Retrievable online at https://www.nytimes.com/2017/08/04/business/dealbook/wells-fargo-fraud-accounts.html)