L3 Notes_Part_2 - •Vices •Other(spousal perfect crime...

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© W.R. Knechel Components of Fraud Triangle Opportunity: - Monitoring: Absence of or improper oversight by B. of D. or audit committee, weak internal and external audit functions and weak internal controls and technology control - Unusual or complex transactions - Inability to judge quality, subjectivity in estimates for valuation - Cash and inventory susceptible to theft readily available - Failure to discipline fraud perpetrators
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Components of Fraud Triangle Perceived Pressure - Motive Financial pressures, greed Work related pressures Desperate family need
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