Fraud involves an intentional embezzlement or theft of funds from a company or the misstatement...
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Accounting
Fraud involves an intentional embezzlement or theft of funds from a company or the misstatement of financial account balances. This type of fraud that has been committed in our discussion would fall under what is described as Financial Reporting Fraud. The manipulation or falsification of accounting records would be the description of what has occurred in the recording of differences in the balances. The defalcations are used when individuals use their influence to change reports or transactions that show a benefit to the organization that will present a false sense to the public. Due to the confirmation of the customer on the balance, it is not determined at this point that fraud has been committed, but only through investigation will that be determined. Question: How do you think that auditors are doing since SOX was passed in combating fraud
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