include an introduction indicating you will address the 2 cases. In the body of the paper, answer the related questions for each case.utilize heading the distinguish the different cases.include a conclusion summarizing the cases and how they relate to each other overall.

Case 1:

Assume that you are the fraud expert for a large Fortune 500 company located in Johnstown, PA. In a recent meeting with the executive committee, one of the officers explains that the fraud prevention program, which teaches managers and employees how to detect and report fraud, costs the company $150,000 a year. The officer then explains that it is a waste of time and money for the company to educate employees and managers about fraud. "Isn't it the responsibility of the auditors to detect fraud" he questions. As the fraud expert of the company, you are asked by the president to explain why managers and employees should be educated in the detection of fraud.

1. What would you tell the committee about why it is important to train managers and employees in fraud detection?
2. After you explained to the committee why it is important to train management and employees, the president asks you about effective ways to involve employees and managers in the prevention and detection of fraud. What would you tell the president?
3. What could be an effective means of deterrence in the organization?

Case 2:

During the past year, your company has discovered three major fraud incidents. The first was a $2.7 million theft of inventory that had been going on for six years.

The second was a $3.2 million kickback scheme involving the most senior purchasing agent. She had been allowing certain customers to overcharge for products in return for personal payments and other financial favors.

The third was an overstatement of receivables and inventories by a subsidiary manager to enhance reported earnings. Without the overstatement, his unit's profit would have fallen far short of budget. The amount of overstatement has yet to be determined. All three of these instances of fraud have been reported in the financial newspapers and have been embarrassing to the company.

In response to these incidents, the board of directors has demanded that management take "positive steps to eliminate future fraud occurrences". In addition, that they are "sick and tired of significant hits to the bottom line and negative exposure in the press". The responsibility to develop a program to eradicate fraud has fallen on your shoulders. You are to outline a comprehensive plan to prevent future fraud.

In outlining your plan, discuss the roles the following groups will play in preventing fraud:

• Top Management
• Middle Management
• Internal Audit
• Corporate Security
• Audit Committee
• Legal Counsel

Respond to these questions:

1. Why is each of the groups above reluctant to take the responsibility for detecting and preventing fraud?
2. Who should be responsible?

detailed explanation with key reference. also include title page, introduction, reference page.