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01 ABC LLC is a company manufacturing and selling wide range of industrial products to a large number of businesses throughout the country. The company

01 ABC LLC is a company manufacturing and selling wide range of industrial products to a large number of businesses throughout the country. The company employs more than 2500 people working out of several locations around the region. Also, ABC LLC purchases numerous components from 750 local and regional suppliers by placing more than 25000 orders yearly. The management team of the company is lacking the knowledge on fraud risk management. Assume you are part of the Internal Audit team, 1. Discuss the major cause of fraud and the major controls that should be in place to mitigate the fraud risk at ABC LLC. (25 marks) (Maximum word limit-300 words)

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