Question
EFlic was shattered on April Fool’s Day in 1973 and instantly collapsed. What audit factors allowed the fraud to exist for nearly a decade?
a) Lack of oversight
b) Collusion among executives
c) Weak internal controls
d) all of the above
a) Lack of oversight
b) Collusion among executives
c) Weak internal controls
d) all of the above
Answers
GPT 3.5
d) all of the above
All of these factors contributed to the fraud at EF Hutton, allowing it to exist for nearly a decade before it was discovered. Lack of oversight, collusion among executives, and weak internal controls all played a role in the company's downfall.
All of these factors contributed to the fraud at EF Hutton, allowing it to exist for nearly a decade before it was discovered. Lack of oversight, collusion among executives, and weak internal controls all played a role in the company's downfall.