ht BAC 1614 FUNDAMENTALS OF FINANCIAL ACCOUNTING 16 OCTOBER 2020 Part B "A fraud is a dishonest act by the employee that results in personal benefit to the employee at a cost to the employer". Fraud experts often say that there are three primary factors that contribute to employee fraud. "Companies generally design their systems of internal control to provide reasonable assurance of proper safeguarding of assets and reliability of the accounting records The concept of reasonable assurance rests on the premise that the costs of establishing control procedures should not exceed their expected benefit. Required: a) Illustrate the THREE (3) factors that contribute to the fraud at most companies. (6 marks) b) Demonstrate SIX (6) principle of internal control. (6 marks) Part C