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

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

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