Description: About four years ago the world began learning the Volkswagen had used a sophisticated software trick to trick regulators who were checking emission standards. The scandal has already cost the company almost $40 billion. Now we have learned that three top executives at Volkswagen are being prosecuted for their roles in covering up the matter.

Date:  September 24, 2019

Source:  cbc.ca

Link: https://www.cbc.ca/news/business/prosecutors-indict-top-volkswagen-bosses-1.5294993

Discussion points: 

 1) Do you drive a Volkswagen product? Were you impacted by this issue of altered reporting?

2) What do you think Volkswagen could do to restore confidence in the markets and with consumers?

3) Chapter three of Wiley’s Auditing: A Practical Approach, tells us a number of things auditors do before accepting or continuing an audit engagement. If you were a member of the audit team auditing Volkswagen, how would this ethical issue impact your audit approach?