Fraud Examination and Financial Forensic

  1. Legal Elements of Fraud
    • •A material false statement
    • •Knowledge that the statement was false
    • when it was spoken
    • •Reliance on the false statement by the
    • victim
    • •Damages resulting from the victim’s
    • reliance on the false statement
  2. What is Fraud?
    is an intentional deception, whether by omission or co-mission, that causes its victim to suffer an economic loss and/or the perpetrator to realize a gain.
  3. deception
    • implemented through fraud schemes
    • force,trickery or larceny. Those offenses that employ trickery are frauds.
  4. Fraud: related financial crimes
    • •Larceny
    • •Conversion
    • •Embezzlement
    • •Breach of Fiduciary Duty
  5. Major categories of fraud:
    • •Asset Misappropriation
    • •Corruption and Abuse
    • •Financial Statement Fraud
    • •Other Fraudulent Statements
  6. What is financial forensics?
    • Financial forensics is the application of financial principles and theories to facts or hypotheses at issue in a legal dispute and consists of two primary functions:
    • Litigation Advisory Services
    • Investigative services
  7. The Financial Forensic Professional’s Skill Set
    • –Technical competency
    • –Investigative proficiency
    • –Thinking critically
  8. Auditing
    Financial statement auditing acts to ensure that financial statements are free from material misstatement.
  9. Fraud examination
    pending....
Author
gabo
ID
283481
Card Set
Fraud Examination and Financial Forensic
Description
Chapter 1
Updated