Fraud costs businesses trillions of dollars each year. In this lesson, we are going to study fraud and ways in which the CFO can proactively address protect their organization.
At its core fraud is a breach of trust by an employee which results in an unauthorized misappropriation of assets or misrepresentation of information. These criminal actions result in either a direct or indirect benefit to the employee. In this lesson we will talk about the types of fraud, why and how fraud happens, and fraud prevention and detection.