How Control Weaknesses Can Lead to Fraud

How Control Weaknesses Can Lead to FraudIn  your Discussion, you will be faced with a potentially fraudulent  situation. This is something that you might face in your auditing career  as well. How would you handle these types of difficult situations?You  are auditing the internal controls of the Kemmons Corporation and you  have found several material weaknesses in their system. You discuss the  internal control weaknesses with the president. He states that he will  make the necessary changes personally and tells you that there is no  need to tell the board about the weaknesses. He does not want to bother  the busy board members with these details, and he states the board is  only involved with major items such as policy changes.As a new auditor, how would you respond to the president?If you were the audit partner on this engagement, would your response change? Why or why not?