Week 8 Discussion 1’Accounting Irregularities’ Pleaserespond to the following:Imagine that you were auditing accountsreceivable balances to confirm sales and found significant discrepanciesbetween the recorded account balances and returned confirmations fromcustomers. Recommend an alternative approach to confirming sales revenue.Provide rationale for your recommendation.Using the case as a reference and from thee-Activity, discuss the improper recognition treatment you researched, and makea recommendation regarding the type of analytical procedure that should havedetected the improper accounting transactions. Propose the internal controlactivities or audit plan that might have detected the improper transactions. Bespecific with your recommendation.Use the Internet to research a recentaccounting scandal within the past five years related to irregularities infinancial statement reporting. Be prepared to discuss.’Improper Revenue Recognition’ Pleaserespond to the following:Fromthe e-Activity, discuss the major accounting issues, the key motivationbehind management’s decision to misrepresent the results of theirfinancial condition, the main impact to investors, and the method by whichthe scandal was uncovered. Based on the type of revenue manipulationperpetrated, suggest key analytical procedures that the auditor shoulddevelop to detect the accounting abuses in the audits or those of othercompanies. Provide rationale for your suggestions.e- Activity: Use theInternet to research a recent accounting scandal within the past five yearsrelated to irregularities in financial statement reporting. Be prepared todiscuss.Discussthe primary risk factors and motives that would have the most impact onthe decision of a company’s management team to commit the impropriety.Based upon the risk factors identified, make a recommendation or the typesof internal controls that should be implemented to prevent or detect theimpropriety. Be specific with your recommendations.