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 […]
In this lesson, we will learn about the fraud psychology, that is, why and how fraud happens. The concept is explained using the fraud triangle of Incentives/Pressures, Opportunities, and Attitudes/Rationalization.
In this lesson we learn about fraud preventioni and detection approaches. It talks about the various anti-fraud controls. Fraud prevention and detection is a management responsibility. Management and the board of directors are responsible for setting an ethical tone at the top, which establishes the acceptable ethical behaviors of the organization. The organization also sets […]