financial accounting discussion

The National Fraud Information Center (NFIC) was originally established in 1992 by the National Consumers League, the oldest nonprofit consumer organization in the United States, to fight the growing menace of telemarketing fraud by improving prevention and enforcement. It maintains a website that provides many useful fraud-related resources at www.fraud.org/scamsagainstbusinesses/bizscams.htm.

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Go to the website and find an item of interest to you and then write a short summary of your findings.

Applying what you have learned to this point, describe any internal controls that failed and analyze why they were not effective. How could internal controls have been designed or implemented differently to prevent the fraud?