ALL THE QUEEN'S HORSES Is it possible for one person to steal over $53 million from a city with an annual budget of less than $10 million? Yes. The Rita Crundwell story provides a cautionary tale for why internal controls are important. After watching "All the Queen's Horses" answer the following questions using complete sentences and proper grammar. Discussion Questions 1. What was your reaction after watching "All the Queen's Horses"? 2. What position did Rita Crundwell hold? 3. How much did Rita Crundwell steal? 4. Over how many years did the fraud occur? 5. Why did Rita Crundwell steal? What did Rita Crundwell buy with the money she stole? 6. Were there any 'red flags' or warnings that might have made one suspect that a fraud could be occurring? If so, what were they? 7. Who discovered the fraud and what did they do when they discovered it? 8. Describe the scheme that Rita Crundwell used to steal money. 9. Chapter 6 of your textbook discusses the fraud triangle. Identify the components of the fraud triangle found in this case. 10. Chapter 6 of your textbook also discusses principles of internal controls. Which principles of internal control were missing, allowing Rita Crundwell's theft to go undetected? 11. What could have the Mayor and City Council done differently that would have prevented Rita Crundwell's theft? 12. What could the auditors have done differently that would have detected Rita Crundwell's theft? 13. What happened to Rita Crundwell after she was caught? 14. How did Rita Crundwell's theft affect others?