Koss Corporation (Ticker: KOSS), a manufacturer of headphones, was subject to a significant case of fraud perpetrated by its Principal Accounting Officer. Research and discuss the prevalent facts of this high-profile case, using the following questions as a guide:
How long did the fraudulent activities persist and how much was the total loss due to fraud?
What were the chief administrative and organizational structure shortcomings that provided motivation, rationalization, and opportunity for the Principal Accounting Officer?
What is your perception of the company’s stock performance since the fraud was publicized? Does the company appear to have recovered?
Name a single internal control procedure that could have prevented the opportunity for the Principal Accounting Officer to commit fraud. Do not duplicate those procedures proposed by classmates.
Half to one page only with 2 references