fraud going on a long time, it's hard to find because it has become the norm [within the organization)."15 Questions 1. Identify and briefly describe fundamental and cost-effective internal controls that charitable organizations could implement to reduce their exposure to theft losses. 2. Do CPA firms have a responsibility to perform audits of charitable organizations for reduced or lower-than-normal audit fees? Defend your answer. Other than audit fees, what other benefits do accounting firms accrue by auditing a charity? 3. Identify unique or uncommon audit risk factors posed by a charity. How should accounting firms modify their audits to address these risk factors? fraud going on a long time, it's hard to find because it has become the norm [within the organization)."15 Questions 1. Identify and briefly describe fundamental and cost-effective internal controls that charitable organizations could implement to reduce their exposure to theft losses. 2. Do CPA firms have a responsibility to perform audits of charitable organizations for reduced or lower-than-normal audit fees? Defend your answer. Other than audit fees, what other benefits do accounting firms accrue by auditing a charity? 3. Identify unique or uncommon audit risk factors posed by a charity. How should accounting firms modify their audits to address these risk factors