CIMA P3 Syllabus C. Internal controls - Fraud - Notes 3 / 6
Fraud is an intentional act involving deception to gain unjust or illegal advantage.
Some fraudulent activities include:
Inflating expense claims
Manipulation of financial statements
Teeming and lading
Ghost employees
Collusion with third parties
Three conditions or risk factors are necessary for fraud to be committed:
Incentive
Opportunity
Attitude/Dishonesty
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