Term
Name seven elements of fraud |
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Definition
1) Representation, statement or disclosure
2) about a material fact
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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Term
| Name two categories of Fraud: |
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Definition
Missapropriation of Assets
Fraudulent Financial Reporting |
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Term
| Missapropriation of Assets |
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Definition
| Theft of assets for personal financial gain |
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Term
| Fraudulent Financial Reporting |
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Definition
Intentional or reckless conduct, whether by act or
omission, that results in materially misleading financial statements.
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Term
| Fraud Triangle: Name 3 conditions that are present when fraud occurs: |
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Definition
Pressure - motivation to commit the fraud
Opportunity – condition/situation that allows a person to commit fraud
Rationalization – justification, attitude, lack of personal integrity
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Term
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Definition
Any illegal act for which knowledge of computer technology is required. May use the computer to commit fraud or may be committed against the computer such as destruction of hardware/software or infecting with viruses.
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