Page 106 - CFF

Occupational fraud

• Also known as internal fraud or employee fraud.

• Three main types of occupational fraud

– Corruption — Exercise of undue influence

– Asset misappropriation — Improper conversion of an asset for

personal use

– Fraudulent financial statements — Improperly accounting for
transactions or falsifying financial statements (see chapter 13,
“Financial Statement Misrepresentations”)

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