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Q4-2 This simulation question available sources is based upon a true set of facts. The information...

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Accounting

Q4-2 This simulation question available sourcesis based upon a true set of facts. The information contained in thesimulation question was What is the Relationship Between the FraudTriangle and Financial Statement Fraud? -

Required First, search the Internet or refer to textbooks tolearn as much as you can about the Fraud Triangle. Then, answer thefollowing:

1. What is the Fraud Triangle? Discuss your understanding of theFraud Triangle and give examples of financial statement fraud foreach of the Triangle: (a) Opportunity-give real or hypotheticalexamples in financial statement fraud. (b) Pressure-give real orhypothetical examples in financial statement fraud. (c)Rationalization -give real or hypothetical examples in financialstatement fraud. e: Remember to cite references/sources from theInternet or textbooks.
2. How can the Fraud Triangle detect/prevent financial statementfraud? Discuss how each of the three elements of the Fraud Trianglecan detect/prevent financial statement fraud (a) Opportunity-explain how this element can detect/prevent financial statementfraud. b) Pressure- explain how this element can detect/preventfinancial statement fraud how this element can detect/preventfinancial statement fraud

Answer & Explanation Solved by verified expert
4.3 Ratings (771 Votes)
The Fraud triangle is a framework designed to explain the reasoning behind a workers decision to commit workplace fraud a the opportunity is the means by which the individual will defraud the organisation In this stage the worker sees a clear course of action by which they can abuse their position to solve the perceived unshareable financial problem in a way that again perceived by them is unlikely to be discovered In many cases the ability to solve the problem in secret is key to the perception of a viable opportunity bPressure 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 example of a perceived    See Answer
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