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As studied in this week’s Discussion posts, fraud is committed in a variety of ways. The procedures for investigating fraud vary depending on the type of fraud and the type of internal controls in place. Two common types of fraud referenced in your text are asset misappropriation and financial statement fraud. Each of these common frauds encompasses many specific frauds. Refer to the text readings from this week’s Learning Resources, and select two specific types of asset misappropriations fraud and two specific types of financial statement fraud.
For this Assignment, write a 2- to 3-page paper analyzing the procedures for investigating each of the four fraud types you selected. Evaluate how internal controls can be used to prevent and detect these types of fraud.