A$.$ Search the internet to gain a deeper understanding of a case of "fraud." You should have plenty to choose from, ranging from Enron$/$Arthur Andersen, VW emissions tampering, Wells Fargo sales tactics, WorldCom, etc. Although cases of fraud related to the recent pandemic relief funds are not exactly frauds that occur within a company, the concepts involved are similar and can be used for this DQ$.$ I$\text{'}$m hoping for diverse types$/$cases of fraud, which should help the class to appreciate the many forms of fraud that can occur. Describe the circumstances that surrounded the fraud, including but not limited to:

$1.$ Who was involved, financial impact, and consequences.

$2.$ The detailed nature of how it was perpetrated $($i$.$e$.$ control breakdown, management override, collusion$)$

$3.$ Were there control breakdowns of "entity$-$level controls" and$/$or "process$-$level controls"? Please support your argument.

$4.$ What role, in any, the internal auditors and external auditors played. If no involvement, should or could the IA have detected this fraud? Why or why not?

B$.$ Discuss whether you believe that only a small portion of the frauds that occur within a company is ever discovered. Back up your reasoning with facts, examples, or other arguments.

C$.$ Make sure to critique at least one other student's posting in addition to your own.