One of the challenges that businesses might be facing in this pandemic situation is the highprobabilityoffraudincidents.Thethreeelementsoffraudtrianglei.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 oftheauditorsandfraudexaminersshouldbeatthepreventiveanddetective perspectives. Relatedly, youastheauditor/fraudexaminer, wouldwant tocontinuouslyprovidethe Management with the 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 strong internal control system during pre-pandemic state.

1. Identify one (1) employee or management fraud and provide the perceived pressure/ motivation andopportunity/ies(dueto"newnormal").Bespecificwiththefraud scheme applicable to the chosen industry. (10 points)
2. Enumerate three(3)symptoms(e.g.,analytical,accountinganddocumentary, behavioral, etc.). Explain why you consider such as symptoms related to identified employee/management fraud. (10 points)
3. Recommend five(5)specific,doable,cost-efficientandappropriatecontrol measures/procedurestoaddresstheperceivedopportunity/iesinNo.1and strengthen implementation of control process. (10 points)