Question: need as soon as posibble due in 2 hours and...
Need as SOON as posibble, due in 2 hours and 15 mins.
Monotonous Ltd specialises in the emerging area of artificial intelligence. They are considered an industry leader due largely to their ability to develop cutting edge technology and stay ahead of their competitors. Growth in technology over recent years has seen an explosion in demand for the services of Monotonous Ltd. This has meant that the company’s revenues and share price have grown substantially. Monotonous Ltd has recently appointed a new Chief Financial Officer (CFO) named Harry Stockdale. The appointment of Harry to CFO was due to his longstanding commitment to the company and his wealth of understanding concerning artificial intelligence. The Chief Executive Officer (CEO) of the company, Matt Diver, asked Harry to meet with him soon after his appointment to discuss budgets, projections and forecasts for the forthcoming year. At this meeting, Harry notices that Matt seems to be quite stressed because he does not believe Monotonous Ltd will meet the expectations set by financial analysts. This was primarily attributable to the recent loss of a major vendor. In the weeks that followed this meeting, Harry began to notice that Matt was consistently working late into the night with one of the company’s internal auditors. Other employees in the company are also starting to seem increasingly anxious about potentially not meeting sales targets. Two days before the financial year end, Harry sees Matt ecstatic and celebrating with all the other employees. Harry found out it was because Monotonous Ltd had achieved its earnings expectations set by the market and while he was relieved, he was not sure whether something fraudulent may have occurred.
List and describe three different types of fraud symptoms that are present in the Monotonous Ltd case by drawing on the case particulars. (9 marks)
Hint: your response should identify any relevant generic categories of fraud symptoms (e.g. analytical anomalies) and then provide examples of this category by drawing on the case particulars.