Asset misappropriation and financial statement fraud are perhaps the most common types of accounting fraud. For this Discussion, use the Internet to locate a case study related to one of these two fraud types?

Consider how the fraud occurred, who was at fault, who should have prevented it, and who is ultimately responsible. Contemplate how internal controls and prevention techniques (such as using red flags and whistleblowing) could have affected the case?

Determine what aspects of the case made it unique for investigators, as well as what types of prevention techniques may have kept the fraud from occurring?

How would you change the internal controls of the company to prevent this type of fraud from occurring in the future?