Question

define fraud. list and briefly discuss the three major components of the fraud triangle. fraud is made for the purpose of

Explanation:

Fraud is an intentional deception or misrepresentation. The fraud triangle has three components:

• Pressure: Financial or personal stress that motivates fraud.
• Opportunity: Weak internal controls allowing fraud.
• Rationalization: Justification for unethical behavior.

Answer:

Fraud is an intentional deception, made for the purpose of personal gain or to cause loss. The three components of the fraud triangle are pressure (motivation), opportunity (weak controls), and rationalization (justification).