Assume the role of an expert witness who has been asked by a court of law...

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Accounting

Assume the role of an expert witness who has been asked by acourt of law to assess whether and to what extent Koss managementand Grant Thornton were responsible for failing to prevent ordetect the embezzlement and accounting fraud.Write a two-pageprofessional opinion summarizing what you believe went wrong, andwhether and how Koss management and Grant Thornton failed in theirresponsibilities. Cite specific examples to support yourconclusion. Conclude your report with an assessment of whether Kossmanagement and Grant Thornton should be held at least partlyresponsible for failing to prevent or detect the fraud.

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It appears that the fraud may have continued for a longer period Amex became suspicious that Sachdevas personal bills were being settled from the KOSS corporate account and contacted Michael Koss CEO This leads to the fraud being uncovered After it came to notice of Michael it was reported to SEC and further investigations were started The role of auditors was to do careful audit follow all PCAOB auditing standards and express their opinion based on the evidence and See Answer

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