Based on your reading of the 2016 COSO Fraud Risk Management Guide executive summary (seewww.coso.org), discuss the five principles presented therein. Use the "MECE" (Mutually Exclusive, Collectively Exhaustive) methodology to evaluate whether these five principles are indeed mutually exclusive (i.e., independent of each other) and collectively exhaustive (i.e., there is no significant principle that remains omitted). At what stage and where are fraudster personality aspects considered (refer toThe CPA Journalarticles by B. J. Epstein and S. Ramamoorti in March and November 2016)? 4.In general, what are the fraud risk indicators that internal auditors should be aware of? How are these "red flags" (fraud risk factors) influenced by industry and geography? Why does it seem that certain areas and assets are more vulnerable to fraud, that is, what "relative risk" considerations need to be factored in? Expand these considerations to materiality (that is, the significance or importance of achieving organizational objectives) and the appropriateness and sufficiency of evidence.