Chapter 1-Introduction to Forensic Accounting and Fraud Examination.pptx

Chapter 1-Introduction to Forensic Accounting and Fraud Examination.pptx

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Introduction to Forensic Accounting and Fraud Examination
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Learning Objectives Understand the seriousness of fraud and how fraud affects individuals, consumers, organizations, and society. Define fraud. Understand the different types of fraud. Understand the difference between fraud committed against an organization on behalf of an organization. Understand the difference between criminal and civil fraud laws. Understand the types of fraud-fighting careers available today.
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Introduction to Fraud
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Sources of Fraud Statistics Four Basic Sources Government Agencies Researchers Insurance Companies Victims of Fraud
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The Seriousness of Fraud For every $1 of fraud, net income is reduced by $1 It takes more revenue to recover the effects of the fraud, since fraud reduces the net income
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What is Fraud? Seven Specific Parts of Fraud 1. a representation 2. about a material point 3. which is false 4. and intentionally or recklessly so 5. which is believed 6. and acted upon by the victim 7. to the victim’s damage
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What is Fraud? Fraud is… intentional to trick or deceive someone out of his/her assets thef a crime Fraud is not… taken by physical force a mistake or error victimless insignificant because no one is hurt acceptable or justifiable
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The Various Classifications of Fraud The Two General Classifications Committed against an organization Committed on behalf of an organization
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The Various Classifications of Fraud Occupational Fraud Occupational fraud is the use of one’s occupation for personnel enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets.
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