$1.$Auditors should be sensitive to red flags that warn fraud is possible. The intentional act of fraud occurs when an individual$($s$)$ in management, those charged with governance, employees or third parties, use deception in a way that results in a material misstatement in the financial statements. Most common form of fraud is management fraud involves top managements deceptive manipulation of financial statements. With reference to the above statement, answer the below questions:a$.$Explain the components of fraud triangle. Apply this to your chosen organization. $(10$ marks$)$b$.$Discuss various types of internal frauds. Is it possible to keep a check on these frauds in your chosen organisation? Explain. $(10$ marks$)$