One of the challenges that businesses might be facing in this pandemic situation is the high probability of fraud incidents. The three elements of the fraud triangle i.e., pressure/motivation, opportunity, and rationalization are evidently high in the midst of "new normal" in doing business, both in the individual and industry perspectives. Thus, the role of the auditors and fraud examiners should be at the preventive and detective perspectives.

Relatedly, you as the auditor/fraud examiner would want to continuously provide the Management with valuable inputs on fraud prevention and detection.

Required: Choose one industry (e.g., financial institution, manufacturing, retail, etc.) and perform the following. Also, assume that the chosen business has a strong internal control system during the pre-pandemic state.

1. Identify one (1) employee or management fraud and provide the perceived pressure/ motivation and opportunity/ies (due to "new normal"). Be specific with the fraud scheme applicable to the chosen industry. (10 points)

2. Enumerate three (3) symptoms (e.g., analytical, accounting and documentary, behavioral, etc.). Explain why you consider such as symptoms related to identified employee/management fraud. (10 points)

3. Recommend five (5) specific, doable, cost-efficient, and appropriate control measures/procedures to address the perceived opportunity/ies in No. 1 and strengthen implementation of the control process. (10 points)

Note: Other assumptions made shall be included in your Answers.