Research Project Fall 2026

Overview

The ability to research, critically evaluate, and clearly communicate well- supported conclusions is essential to success in auditing and accounting. To develop these skills, each group will select a recent business failure (or another failure, subject to instructor approval) that has been the focus of a documentary. Instructor approval must be obtained for the chosen case.

Over the course of the semester, students will watch the selected documentary, conduct supplementary research, and apply course concepts to analyze how the external auditor’s role contributed to the failure, what could have been done to prevent it, and the broader implications for practice today. Findings will be shared through a class presentation and submitted as an executive summary.

In addition to analyzing their own case, each student will be assigned another group’s documentary to watch and critically evaluate, identifying key insights and points of comparison (group members will not be assigned the same documentary). These evaluations will be shared during in-class presentations in the form of two prepared questions for the presenting group (questions must be submitted in Canvas beforehand).

Note: Case analysis is completed in groups, while peer reviews are completed individually. Peer questions should not be shared with the presenting group in advance.

A note on expectations: This project is intentionally open-ended. In practice,
your senior or manager will rarely hand you a detailed checklist, and determining what a good work product looks like is part of the job. Treat me as your senior on this engagement: bring clarifying questions to class or office hours, the same way you would at a firm. Asking well-framed questions is part of the skill being developed here, not a sign that you have missed something.

Part 1 – Select Documentary

Select groups (allowed size will be announced in class and on Canvas) and documentary on a financial or business failure. Examples will be provided in class from which you can choose, or you may pick a different failure subject to instructor approval.

Note: Each documentary may only be covered by one group. Selections will be
approved on a first-come, first-served basis (selections will be posted on the Teams spreadsheet). Please have a backup selection should your first choice already be taken.

Group documentary selections are due September 29, 2026, by the start of class.
At that time, individual peer documentaries will also be assigned.

Part 2 – Project Deliverables

You are expected to watch the documentary related to your chosen business failure, ideally early in the semester, and begin conducting additional background research. Based on your research and course concepts, you will produce the following deliverables that simulate professional communication in an accounting firm.

Scenario Context

Assume you are an entry-level auditor assigned to an engagement. A client
contact, curious about a recent high-profile business failure, asks you whether
the case has any relevance to the current audit, the audit profession more
broadly, or any emerging risk considerations. Your senior asks you to research
the failure further and tasks you with preparing the following components:

1. Executive Summary for the Client Contact [2% overall]
   Prepare a client-ready executive summary to share with the individual who initially asked about the case. The summary should provide a high-level overview of the failure, including your analysis and relevant takeaways. Although professional in tone, it should be accessible to someone outside of the audit team. [This summary should be informative and client-facing, focusing on implications that may interest management while still reflecting your technical understanding.]
   
   

2. Presentation Visual Aid [graded as part of the presentation]
   You are required to develop a professional PowerPoint (or similar visual aid such as Google Slides, Canva, or Prezi) to accompany your presentation. The presentation should be clear, visually engaging, and well-organized to highlight the key points of your analysis. Slides should emphasize readability and professionalism, supporting your spoken or written explanation rather than overwhelming the audience with text. [Your deliverable should demonstrate both design quality and technical understanding, ensuring the visual aid strengthens the overall impact of your project findings.]
   
   

3. Peer Documentary Questions [1% overall]
   Each student will be assigned a different group’s documentary to watch and critically evaluate. You are required to submit two prepared questions in Canvas prior to in-class presentations. These questions should reflect your evaluation of the case, highlight key insights or points of comparison, and be professional in tone. Questions should not be shared with the presenting group in advance, as they are intended to simulate
   real-time inquiry and critical discussion.1 [This component demonstrates your ability to critically engage with peers’ work and connect lessons across cases.]
   
   

While the overall project centers on a business failure, your analysis should be grounded in auditing concepts—particularly in terms of how the external audit function operated, failed, or could have intervened more effectively.
Grading breakdown for each deliverable is provided in the accompanying rubric
document.
Due: November 17, 2026, at the start of class.

Part 3 – Presentation [5% overall]

As part of the project, your group will present your research findings to the
class. This is your opportunity to demonstrate your understanding of the case,
connect it to course concepts, and communicate the key lessons learned. Your
presentation should be clear, concise, and professionally delivered.

Presentation Requirements

• Your presentation will last approximately 10 minutes, followed by
questions from the instructor and classmates.
o Practice your delivery in advance to ensure you stay
within a
reasonable time limit and present with confidence.
[Time is limited, so presentations will be capped. In other words, if your
presentation is going over, you will be stopped.]
• The presentation must cover the five core components of the project:
1. Background & Overview
2. Nature of the Failure
3. External Auditor’s Role
4. Consequences & Outcomes
5. Conclusion & Lessons Learned
• You are required to use PowerPoint or another professional visual
aid (e.g., Google Slides, Canva, Prezi). Your slides should be organized,
easy to read, and clearly support the content you present.
o Submit your visual aid to Canvas by the deadline. Bring a backup
(e.g., USB drive or email copy) in case of technical issues.
• You must be prepared to answer questions in class from your peers and the
instructor. Questions may be assigned by the instructor to individual
group members, and not the entire group.
o In other words, all group members should be prepared to answer
questions and not rely on others in the group to answer for them.

Tips for Success

• Keep slides clean and professional—limit text and use visuals
effectively.
• Focus on how the case relates to audit responsibilities and course topics.
• Rehearse your timing and anticipate follow-up questions.
Presentation Grade Breakdown
Component Weight
Content 60%
Visual Aid 15%
Presentation Clarity & Style 15%
Response to Peer and
Instructor Questions 10%
Due: November 17, 2026, at the start of class.2

Note on Group Work

All group members are expected to contribute meaningfully to the project. The
specific division of responsibilities may vary by group, but each member must
play an active role in research, analysis, and preparation of deliverables. To
help ensure fairness and accountability, students will complete peer evaluation
surveys assessing the contributions of their group members. These evaluations
will be considered in determining individual grades for the project.

Required Components

Your summary and presentation should address the five major sections below. Each section includes guiding questions to help you shape your analysis. You are not expected to answer every question directly, but your work should reflect thoughtful consideration of these themes.

1. Background & Overview

   1. a) Describe the context and lead-up to the failure.

   2. b) What company or entity was involved?

   3. c) Who were the key individuals or decision-makers?

   4. d) What events or circumstances led to the failure?

   5. e) Were there any warning signs or red flags that an external auditor could have identified?

   6. f) Was there an external auditor involved before the failure occurred?

   7. g) Was a regulatory or governmental oversight body responsible?

   8. h) Does the failure relate to a broader information risk issue (e.g., fraud, disclosure breakdown, audit failure)?
      
      

2. Nature of the Failure

   1. a) Analyze the specifics of the failure and who was responsible.

   2. b) What key individuals played a role in causing or enabling the failure?

   3. c) Was the external auditor complicit, negligent, or uninvolved?

   4. d) Who had knowledge of the issues? If certain individuals were unaware, should they have been?
      
      

3. External Auditor’s Role (or lack thereof)

   1. a) Evaluate how the external audit function factored into the events.

   2. b) What could the external auditor have done to prevent or mitigate the failure?

   3. c) What specific audit responsibilities or procedures were overlooked or poorly executed?

   4. d) Which core concepts or best practices discussed in class were missed or disregarded?
      
      

4. Consequences & Outcomes

   1. a) Discuss the fallout from the failure.

   2. b) What were the results or consequences of the failure?

   3. c) Who was harmed (e.g., investors, employees, the public)?

   4. d) What happened to the individuals or organizations involved (e.g., legal consequences, bankruptcies)?

   5. e) Were there any resulting changes in regulation, laws, or oversight practices?
      
      

5. Conclusion & Lessons Learned

   1. a) Offer your reflection and key takeaways.

   2. b) Could the failure have been prevented?

   3. c) Could an external auditor have reduced its impact or prevented it altogether?

   4. d) What lessons should external auditors—and audit firms more broadly—take from this case?
      
      

Note on the Use of GenAI (e.g., ChatGPT or Similar Tools)

Use of Generative AI (GenAI) tools (e.g., for researching the case, drafting written deliverables, or designing presentation slides) is permitted and encouraged as a resource to support your work in this course. However, transparency is essential. If you use GenAI tools in any part of your project, you must clearly cite them in your submission and include the specific prompts or queries used to generate content. This allows for proper acknowledgment of AI-assisted contributions while ensuring that your final work reflects your own understanding, critical thinking, and analysis. All content, across the three written deliverables and the presentation, must ultimately be your original work product. Submissions that rely heavily on unedited or generic AI output will receive point deductions.