1- Discuss what has to happen for a fraud scheme to occur, and what the concept of...
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Question:
1- Discuss what has to happen for a fraud scheme to occur, and what the concept of “fraud triangle” means.
2- Discuss an example of risk factors that are present in the following two types of schemes and how the three factors that determine a possible fraud scheme (discussed in question # 1) are manifested in your examples
a- Fraudulent disclosure (fraudulent reporting)
b- Misappropriations of assets 3- Explain in detail what are the elements that the AICPA recommends to take into consideration to prevent, discourage and detect (prevent, deter and detect) fraud in an audit.
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