PLease type the answers) (accounting 5520) case study 20 Moha Computer Services Limited

1) Apply SAS 99 (AU-C 240) and identify red flags (fraud risk factors) that are present in the Moha case. Red flags should be grouped under three categories: pressures/incentives, opportunities, and (ethical) attitudes/ rationalizations.

2) Describe utilitarian ethics. Who are all (individuals and groups) affected by the massive fraud at Moha Computer Services Limited and how are they affected?

3) What were the weaknesses in the control environment of Moha Computer Services Limited? Enumerate them in detail

4) Investors, the auditor, audit committee, SEBI (regulators), and others - all should have exhibited professional skepticism. What do you understand by the phrase professional skepticism? Describe it in detail

5) What organizational controls including internal controls [read AS 5 from the PCAOB thoroughly before answering this] should be put in place to prevent another Satyam fraud from occurring again?

6) How did the audit firm miss the fraud? What were the weaknesses in the Indian auditing standards?