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    Fraud Risks and Controls

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    Describe the Fraud Triangle and using illustrations involving financial reporting fraud and occupational fraud and abuse, highlight how it could be used as a conceptual framework to discuss the antecedents of fraud as well as responsive approach to addressing fraud risk within organizations.

    (Internal auditing: assurance & consulting services).

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    The fraud triangle, as depicted below, was introduced by the Statement of Auditing Standards No. 99, Consideration of Fraud in a Financial Statement Audit. The triangle shows three conditions, that if present, fraud is highly likely to occur in the financial reporting practices of an organization. These three conditions ...

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    The solution describes fraud risks and controls.