Write a 1,200- to 1,500-word paper explaining the legal aspects, financial standards involved, and ethicality of the Excello Telecommunications case. Your paper should include the following:
Identify the legal issues involved – consider state and federal laws – and explain how they apply to the case.
Determine the criteria by which Sarbanes – Oxley would apply to this case.
Identify the specific financial reporting standards involved and explain how those standards were violated.
Evaluate the financial reporting activity in terms of the AICPA Code of Professional Conduct.
Determine the ethicality of the events within the case.
Select the best alternative offered by the team. Defend your decision in terms of its legality, ethicality, and alignment with accounting standards.