Answered: Define fraud triangle

Business

Accounting

Define fraud triangle

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter2: The Auditor’s Responsibilities Regarding Fraud And Mechanisms To Address Fraud: Regulation And Corporate Governance

Section: Chapter Questions

Problem 8RQSC

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Question

Define fraud triangle

Expert Solution

Step 1

Fraud triangle is a model provided by Association of Certified Fraud Examiners. According to this model, employees can get involved in fraud due to three reasons which are; financial needs, opportunity to commit fraud, and rationalization of fraud.

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