Question: Review this report of the investigation by the U.S. Securities and Exchange Commission's (SEC) Office of Inspector General explaining how the SEC missed Bernard Madoff's Ponzi Scheme (Executive Summary). Then, review Madoff's case study linked at the bottom of the page.
After reading and reflecting on the report, the case study, and any other articles related to Madoff's case, write a paper in MS Word responding to the following questions/topics:
1. Which controls were compromised?
2. How was the circumvention of internal controls used to conceal the fraud from investigators?
3. Discuss how to uncover this type of fraud.
4. Provide recommendations for how to avoid this type of fraud and a conclusion that summarizes your point of view.