10 Apr risk management case study analysis
Answer the following three questions:
1. What were some important specific control weaknesses and/or failures that allowed the fraudulent activity at Wells to develop and continue at such a large scale? (List the top three in your opinion.)
a. _________________________
b. _________________________
c. _________________________
2. Did the Board of Directors adequately perform their fiduciary duties? (Pick one and provide your rationale.)
a. Yes
b. No
Rationale: _______________________________________________________________________
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________________________________________________________________________________
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3. Who was primarily responsible for the fraudulent behavior at Wells? (Pick three and provide your rationale.)
a. Management
b. Employees
c. Board
d. Customers
e. Regulators
f. External Auditors
Rationale: _______________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
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