I have written the paper for week 1 term paper, I need to know if i have a problem statement, if not ideas on how
to get one out of this, thanks
Accounting Fraud in the Workplace
Fraud is the Intentional deceptions or misrepresentations undertaken to deprive others of money, property, or other valuable assets. Frauds are difficult to identify and quantify, it is clear that fraud constitutes one of the most pervasive and costly crime problems in the United States. There are four elements that must be present for fraud to occur: a material false statement, knowledge of the statement's falsity, reliance on the false statement by a victim, and damages suffered by the victim. "Consumer reporting agencies such as the Federal Trade Commission and Social Security Administration and federal law-enforcement report an estimated 1.5 million victims annually. According to the Consumer Sentinel Network Data Book, approximately 54 percent of fraud was conducted by phone, with 23 percent by e-mail (Murphy, L. L. (2019)." Fraud takes many forms but is generally divided into three basic categories: fraud against the government, corporate and financial fraud, and consumer fraud. I will analyze corporate and financial fraud. I will discuss the effects of accounting fraud on corporations. I will also discuss internal control procedures and the role of internal and external auditors. I will also discuss how a company can safeguard against accounting fraud. This problem fits with this course since every accountant in every aspect of the field needs to be aware of fraud. My area of study is MACC no concentration, trying the CPA.
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