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Consult Paragraphs 5253 of PCAOB Auditing Standard No. 12. How might a revenue recognition fraud...

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Accounting

Consult Paragraphs 5253 of PCAOB Auditing Standard No. 12. How might a revenue recognition fraud occur under Enrons strategy in the late 1990s? Identify an internal control procedure that would prevent, detect, or deter such a fraudulent scheme.

Consult Paragraphs 6569 of PCAOB Auditing Standard No. 12. Based on your understanding of fraud risk assessment, what three conditions are likely to be present when fraud occurs (the fraud triangle)? Based on the information provided in the case, which of these three conditions appears to have been the most prevalent at Enron, and why?

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