Management role in the failure of the controls

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Reference no: EM132307492

Preparation

Think of a recent business fraud or scandal you’ve heard about in the news, or choose one that has been mentioned in your reading. For example, you might consider one of the following:

The Volkswagen emissions falsification scandal

The Wells Fargo fake account scandal

The subprime mortgage crisis

Research the scandal, paying close attention to how it was possible for whatever went wrong to happen.

Your Task

Specify the scandal you chose, and be sure to cite any sources where you conducted your research. Then respond to ALL of the following questions in your initial post:

Were there controls in place that should have prevented the scandal or fraud from happening? Explain what types of controls existed using the terminology in your reading (feedback, proactive, concurrent, strategic, operational, tactical, top-down, objective, normative, financial, non financial).

If so, why do you think the controls were ineffective? If not, why do you think the business didn’t have sufficient controls in place?

What was management’s role in the failure of the controls?

Did the business implement new controls in response to the scandal? If so, do you think they’ll be effective?

Reference no: EM132307492

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