Last Year, PQR corporations internal auditors uncovered a $10 million fraud that had been going on the last five years. James Fox, CEO of PQR, recently fired CFO because he was responsible for the $10 million fraud. James wants to make sure that another fraud of this magnitude does not occur again. James has asked you to design a plan that can be used to help prevent fraud from re-occurring in the future. Recommend at least two strategies for preventing fraud. Explain the benefits that are associated with each proposed strategy in the plan.

(8 marks)

Explanation of the first strategy in the plan and the benefits (4 marks)

Explanation of the second strategy in the plan and the benefits (4 marks)