Fraud triangle
Alleged Fraud Provide (3) symptoms (something visual) that you would see, that might indicate that there is a fraud.
Based on the fraud triangle, speculate why the individual did what they did Why did they had the opportunity, i.e. what was missing that allowed them to behave as indicated.
1. An accounts payable supervisor generates fictitious payments to fictitious payees. He deposits the cheques into an account he has set up in the name of the fictitious payee.
2. A consulting firm invoices for work not performed and is paid by the company.
3. An office supply vendor provides an employee of your company with gifts and excessive entertainment. This employee awards bids to the vendor on a sole source basis and approves invoices for unneeded office supplies.
4. A law firm invoices your company as if experienced partners of the law firm are doing the work when in fact it was done by paralegals.
5. Corporate executives approve elaborate remodeling for the company’s home office. Included in the cost of the remodelling is $1 million in kickbacks for the project manager and $500,000 for work at the homes of the three executives.
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