In 2006, the Securities and Exchange Commission (SEC)

In 2006, the Securities and Exchange Commission (SEC)brought charges against Waste Management and some of its executives. You mustresearch these charges and answer the questions below. Review the SEC Release 1532here. In a well-structured analysis, you will answer aset of questions regarding the case against Waste Management. Begin yourresearch in Module Eight. Use any additional resources presented and the WasteManagement financial statements and reports as needed.What were some of the “improper accounting practices” used by Waste Management? Please be specific as to what Generally Accepted Accounting Principle (GAAP) was violated.What impact did the fraudulent behavior identified above have on the published financial statements? Please be specific.What non-accounting fraudulent things did Waste Management do?What was the motivation for the executives to commit fraud?Identify the executives and other employees of Waste Management who were charged in the fraud, and identify the punishment for both the employees and Waste Management.What did the company have to do to correct the issuance of the incorrect financial information, and what was the quantifiable effect of Waste Management’s practices on the pre-tax income/loss?Analysis:What were the red flags that should have been observed but were not? Please be specific and state how they could have been used by an investor/creditor to help identify the fraud.Identify processes and techniques that could have been applicable to detect the fraud.Cite all sources using APA format.Link to SEC 1532