Well, there's the obvious go-to audit seminar over Enron's accounting practices, as well as MCI Worldcom. That's kind of been done to death though, so I'm sure your prof hears one of those every semester.
The case of ZZZZ Best is very interesting and old enough now that people usually don't do reports on it. Maybe you could put a spin on it about what current audit procedures would have caught the scam and why old procedures missed it.
You could do it over some of the recent regulatory issues, such as the Dodd-Frank Wall Street Reform And Consumer Protection Act (just called Dodd-Frank in the biz).
Sarbanes-Oxley is another huge piece of reform that's tested on, but it's a little older and has also probably been done a million times, it's huge in any audit course and is a pretty big part of the exam.
You could also report on times when GAAP is not followed, but the audit opinion is still unqualified because following GAAP would have been misleading. It barely ever comes up but the exam LOVES to ask questions about this scenario.
One time I read an article about a Hard Drive manufacturing company that was just making empty boxes for their drives and putting them in their warehouse, then way over-reporting their inventory. Stuff like that is always interesting because everyone loves to hear about bad guys gettin' caught and justice being served. Finding a story like that shouldn't be too hard, I'm sure that stuff happens often enough.
OOORRRR, maybe you could do an international audit seminar. Report on things like Venezuela's “Contributions For Social Development” (look at PDVSA's msot recent audit paperwork). There's also a ton of interesting stuff going on in China, it's been a long time since I've taken a look at this, but there are a ton of weird rules about owning shares of Chinese companies, and some shares of stock are only for Chinese nationals, while the other shares are freely traded on exchanges.
Far: 49
BEC: 79 (Expired)
AUD: 51, 67, 64
REG: 59, 64, 59, 69
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