ASSURANCE HIGHLIGHT
Auditor’ s Role in Safeguarding Your Business Against Corporate Fraud
In today’ s volatile economic climate, organizations face mounting pressures that can increase the risk of fraudulent activities. Auditors play a pivotal role in identifying and mitigating these risks for your business through comprehensive fraud risk assessments and tailored audit procedures.
Fraud Triangle Three elements are generally required for fraud to happen.
Perpetrators must experience some type of pressure that motivates fraud. Motives may be personal or come from within the organization.
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Perpetrators must mentally justify( or rationalize) fraudulent conduct.
Perpetrators must perceive and exploit opportunities they believe will allow them to go undetected.
The presence of these three elements doesn’ t prove fraud has been committed— or that an individual will commit fraud. Rather, the so-called“ fraud triangle” is designed to help organizations identify risks and understand the importance of eliminating the perceived opportunity to commit fraud.
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