Sally Smith was the Treasurer of University Hospital. Ms. Smith perpetrated a $15 million fraud over a ten-year period. The fraud was accomplished through a secret bank account opened by Smith in the name of the Hospital Patient Reserve Account. Smith created phony invoices for the Hospital Patient Reserve Account, writing checks in payment from one of the Hospitals bank accounts, and payable to the Treasurer. She would then deposit the checks into the secret account to pay her personal expenses. Additionally, she would prepare bank reconciliations for the accounts, made deposits, and was provided sole access to all statements, and correspondence from the University Hospitals account. Identify the various weakness in internal controls, and how the University Hospital might have prevented such a loss.