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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Define the fraud triangle.

To determine

Explain the meaning of fraud triangle.

Explanation

Fraud Triangle:

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.

Fraud triangle is a model which explains that fraud can be conducted by employees due to the following three reasons:

  • Financial needs: Financial needs may impulse a person to commit fraud. For example, medical bills, repayment of bank loans, or purchase of a house...

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