The Waste Management Scandal is well known as one of the most remarkable cases of accounting fraud in world history. By using improper accounting procedures, Waste Management was able to falsely increase the depreciation life of its property, plant and equipment on its balance sheet, thereby increasing the value of the company. The Waste Management scandal, along with other cases of accounting fraud at that time, not only had far-reaching negative consequences, but also exposed major flaws in the accounting profession at the turn of the new century.Waste Management Inc. is a Texas corporation. based public company that provides waste management in North America. It offers a variety of other services, such as collection, transfer, recycling, disposal, waste-to-energy and landfill gas-to-energy operations in the United States and throughout North America ( New York Times nd). by five top executives of Waste Management Inc. and lasted for five years from 1992 to 1997. These defendants, who had complete control of Waste Management Inc., were Waste Management founder and CEO Dean L. Buntrock, Chairman Philip B .Rooney. , Vice President James E. Koenig, Chief Accounting Officer Thomas C. Hau, Senior Vice President Herbert Getz, and Vice President Finance Bruce D. Tobecksen (US Securities and Exchange Commission, 2002). Thanks to the warm relationship and support of their audit partner, author Anderson, the fraud was recognized as the largest fraudulent practice of the time. Together, they had misreported pre-tax profits of more than $1.7 billion. The reason they started committing their fraud was that the company's profits did not meet their expectations, so they wrongly reduced and d... middle of paper ...... the reason for These modifications are also necessary. More importantly, auditors must also carefully analyze and evaluate the circumstances under which these changes were made. Additionally, auditors could turn to another competent person outside the company (a third party) for assistance in making an appropriate decision. In conclusion, Waste Management's fraudulent accounting practices have financially ruined a large number of people; shareholders and investors, in particular, lost more than $6 billion. Scandals such as Waste Management highlighted the flaws in the accounting profession of the time and imparted a valuable lesson to our generation. As future auditors, we must take important steps to ensure that such fraudulent practices are detected before they have the chance to become as grandiose as the Waste Management scandal..