AUDITING CASE #$5$KOSS FRAUD AND GRANT THORNTON $($$$31$ MILLION DOLLAR FRAUD CASE$)$ PURPOSE: This case is a prelude to the semester project $($published NLT $4/5)$ and chapter $10$ lecture and discussion on cash. SOURCES: The SEC v$.$ Sujata Sachdeva and Julie Mulvaney Complaint The SEC v$.$ Koss Corporation and Michael Koss Complain Koss Corporation Annual Report $(10-$K$/$A$)$ DUE DATE: Remit your responses using the format below by April $15$ at $1$:$00$ p$.$m$.$REQUIREMENTS: To get familiar and learn about Koss Corporations fraud, read the SEC reports and Kosss Annual Report $(10-$K$/$A$)$ indicated below in each part $($Part I, II$,$ and III$)$ to answer the items about the fraud. Q#Answer the below items.Provide your response to the items here. PART I: The SEC v$.$ Sujata Sachdeva and Julie Mulvaney ComplaintTo access:$1.$ Go to Module Koss Internal Control Project$2.$ Click on Securities and Exchange Commission LINKS KOSS PROJECT$3.$ Ending link #$216401$Summarize The Theft $2$Summarize The Cover$-$Up PART II: The SEC v$.$ Koss Corporation and Michael Koss ComplaintTo access: $1.$ Go to Module Koss Internal Control Project $2.$ Click on Securities and Exchange Commission LINKS KOSS PROJECT $3.$ Ending link #$22138$ and #$22279($read both$)$ Explain the following weaknesses in internal control and sanction. $3$ policy for accounts payable and wire transfers. $4$ segregation of duties. $5$ balance sheet and bank account reconciliation internal controls. $6$ safeguarding of assets $7$ information systems $8$ what was the total amount Michael Koss reimbursed Koss in cash and options? PART III: Koss Corporation Annual Report $(10-$K$/$A$)--$ RemediationTo access:$1.$ Go to Module Koss Internal Control Project$2.$ Click on Kosss Restatement$3.$ Click on the name at the top to open$4.$ Then go to Managements Annual Report on Internal Controls Over Financial Reporting $($pp$.2627)$ Explain how Koss has remediated: $9$ the wire transfers and cashiers checks $.10$ the petty cash, manual checks and travelers checks. $11$ the recording of unauthorized transactions. $12$ the performance and review of account reconciliations. $13$ the information technology.