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From the listing provided below, select (v) for those which are considered to be red flags that fraud may have occurred and (X) for others.

From the listing provided below, select (v) for those which are considered to be red flags that fraud may have occurred and (X) for others. ?? 1. no internal auditing staff 2. weak internal controls 3. a complex business structure ~ 4. many high value transactions ? 5. a high turnover of auditors 6. lack of monitoring accounts payable 7. highly paid executives 8. highly volatile industry 9. unusual transactions ~ 10. several product lines

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