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    This posting addresses each element of a fraud.

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    Please help with the following problem. Provide at least 200 words in the solution.

    Select a type of fraud, and identify (1) the perpetrator of the fraud, (2) the victim of the fraud, and (3) provide an explanation of what the fraud entails. Also, identify one internal control that could be implemented to reduce or prevent this from occurring.

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    Solution Preview

    Type of fraud - Inventory theft

    (1) Perpetrator: Employee at the receiving dock of a manufacturing company.

    (2) Victim: The direct victim of the fraud is the company where the employee is stealing merchandise. The employee is more than likely stealing the incoming inventory, and covering his or her theft by falsifying internal documents. The indirect ...

    Solution Summary

    The following problem helps with an accounting problem. This solution discusses a fraud and identifies the perpetrator, the victim, and an explanation of what the fraud entails. Internal controls that could have prevented the fraud are also discussed. The explanation is given in 240 words.