Conduct a research study on a company that has encountered internal fraud specifically related to accounting practices. The discussion should include:

• An overview of the company's background.
• A detailed examination of the fraudulent activities, and the key elements of that fraud.
• Suggestions of best practices, from your point of view, for implementing preventive measures.
• Explain, from your point of view, why internal controls play an important role in safeguarding the organization's interests.