1. Briefly describe the steps in the risk management process. To what extent does the risk management process focus on detecting employee fraud?
2. Assume for a moment that Jerome Kerviel’s bosses knew what he was doing and they went along with it as long as he was making money for SocGen. Assume also that they charged him with fraud only after he started losing money. If that was really the situation, do you think Kerviel should have been charged with breach of contract (i.e., with making decisions he was not authorized to make)? Explain your reasoning
3. Consider the following statement: In every company, there are likely to be at least a few people who will engage in fraudulent behaviour in order to benefit themselves at the expense of others. Therefore, all companies should have a CRO in order to eliminate the possibility of employee fraud. Do you agree with the statement? Explain your reasoning.