hich of the following would be a red flag that internal auditors should look at for the possibility of inventory fraud? I. The controller has assumed responsibility for approving all payments to certain vendors. II. The controller has continuously delayed installation of a new accounts payable system, despite a corporate directive to implement it. III. Sales commissions are not consistent with the organization's increased levels of sales. IV. Payments to vendors are supported by copies of receiving memos, rather than originals. Group of answer choices I, II, and IV only I, II, III, and IV I, III, and IV only II and III only I and II only

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Fraud

Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.