Which coso framework have been more likely to curtail fraud

Reference no: EM133474981

Question 1: Relying on the COSO frameworks, identify red flags that were present in Le-Nature's internal control system. How were principles of COSO's internal control framework violated by Podlucky and his co-conspirators? How did the deficiencies in Le-Nature's internal controls contribute to the failure of third parties (including Wachovia, leasing companies, and the company's independent auditors) to uncover the Le-Nature fraud?

Question 2: Since the Le-Nature fraud occurred before the adoption/acceptance of both Frameworks, which COSO Framework have been more likely to curtail the fraud? Why?

Question 3: What guidance can you provide to CAOs who need to interact with Podlucky or some other CEO who behaved as Poducky had done? What special skills would such interactions necessitate?

Reference no: EM133474981

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