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Can the elements of the Fraud Triangle be observed? Let's explore this idea by responding to...

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Accounting

Can the elements of the Fraud Triangle be observed?

Let's explore this idea by responding to each of thefollowing:

  • "An organization with significant fraud risk looks and soundslike"
  • "An organization with minimal fraud risk looks and soundslike"

Answer & Explanation Solved by verified expert
4.5 Ratings (618 Votes)
Fraud Triangle definition The Fraud triangle is a framework designed to explain the reasoning behind a workers decision to commit workplace fraud The three stages categorised by the effect on the individual can be summarised as pressure opportunity and rationalisation Step 1 the pressure on the individual is the motivation behind the crime and can be either personal financial pressure such as debt problems or workplace debt problems such as a shortfall in revenue The pressure is seen by the individual as unsolvable by orthodox legal sanctioned routes and unshareable with others who may be able to offer assistance A common example of a perceived unshareable financial problem is gambling debt Maintenance of a lifestyle is another common example Step 2 the opportunity to commit fraud is the means by which the individual will defraud    See Answer
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