Crispy Bagel Corporation is the fastest-growing bagel chain in the Northeast. Crispy has made a name for
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Question:
Questions to Consider
A. What are the red flags present that suggest the possibility of fraud? Are there conditions present suggested by the fraud triangle that may facilitate fraud? Are there IT-related issues that could facilitate fraud?
B. How would the fraud impact the financial statements? What accounts would be misstated?
C. How might the fraud be detected? What audit tests might be performed on the processes and IT systems to detect the fraud?
D. In light of your findings, what recommendations might you suggest to improve both manual and IT system internal controls?
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