ONLY answer ONE question.(Choose 1 from 3, Choose the one that you have the most confidence in to make sure you get it right, If you are not sure you are right or have any doubts, please let me know. Don’t waste time answering wrong answers）
1.How could these frauds have been prevented by the board? Did the audit committee have sufficient expertise? (Hint, perhaps look at 10-K filings for ALC and Broadwind.)
2. What are common problems running through the audits of these two companies that committed fraud? Discuss two ways in which these frauds could have been caught earlier by the auditors.
3.Are the consequences that the audit partners faced appropriate or inappropriate? Discuss three or four pros and cons as to the penalties that the auditors received.