Discuss who perpetrates fraud and why it occurs, including the pressures, opportunities, and rationalizations that are present in most frauds.
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- Opportunity, Financial Pressure, and Rationalization are the three main factors contribute to fraud activity. In your view, discuss the factor that you believe is the most crucial to creating a fraud. Provide examples to support your conclusion and defend your choice in the discussion.If one of the three elements of the fraud triangle is not present, can fraud still be perpetrated? Explain. Identify factors (red flags) that would be strong indicators of opportunities to commit fraud. Is the ability to rationalize the fraud an important aspect to consider when analyzing a potentially fraudulent situation? What are some of the common rationalizations used by fraud perpetrators? Define and illustrate kiting. What controls should the client institute to prevent it?Responsibility for prevention and detection of fraud?
- What is the fraud scale, and how does it relate to pressure, opportunity, and integrity?The fraud triangle asserts that the following three factors must exist for a person to commit fraud. A. Opportunity B. Pressure C. Rationalization. Identify the fraud risk factor (A, B, or C) in each of the following situations.The fraud triangle identifies incentives, opportunities, and rationalizations as the three elements associated with frauds. Describe how these elements are related to the occurrence of fraud.
