Internal Controls

"Internal Controls"Please respond to the following:

Evaluate management’s role and obligation to shareholders for maintaining effective internal controls over company resources.

Assume that you are a key member on an audit engagement team and discover a breach in internal controls. Discuss how you will report the breach and your expectations of management for a resolution to the breach.

Financial Activity"Please respond to the following:

From the e-Activity, describe the nature of the fraud committed and management’s responsibility for the fraud.

From the e-Activity, evaluate the auditor’s responsibility to detect the fraud and any consequences the firm endured as a result of the client’s fraudulent activity.