Management and Organizational Studies 3367A/B Chapter Notes - Chapter 1: Head I, Embezzlement, Digital Negative

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Chapter 1 Introduction
Define Occupational Fraud and Abuse
The use of ones occupation for personal enrichment through the deliberate
misuse or misapplication of the employing organizations resources or assets
All fraud examinations must be based on proper prediction
Discipline of Fraud Examination
Documentary evidence
Interviewing witnesses
Writing investigative reports
Testifying
Assisting in the detection and prevention of fraud
Forensic accounting VS. Fraud examination
Elements of Fraud
A material false statement
Knowledge that the statement was false when it was uttered
Reliance on the false statement by the victim
Damages resulting from the victim's reliance on the false statement
Note* : 4 elements must be present for a fraud to occur
Fraud Theory Approach
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Analyze available data
Create a hypothesis ( worse case)
Test the hypothesis ( what if )
Refine and amend the hypothesis
Tools used in Fraud Examination
*Document analysis ---> Neutral Third-party Witnesses---> Corroborative
Witnesses ---> Co-conspirators ---> Target
What is Fraud?
Larceny
o There was a taking or carrying away
o Money or other property of another
o Without consent of the owner
o With the intention to deprive the owner of its use or possession
(stealing)
o Ex. Taking the computer chips from the warehouse and selling them
to a third party, the employee clearly demonstrated intent to
deprive his employer of the ability to possess and use those chips.
Conversion
o A person commits a conversion when he takes possession of property
that does not belong to him and thereby deprives the true owner of the
property for any length of time
Embezzlement
o In order for an embezzlement to occur, the person who stole the
property must have been entitled to possession of the property at the
time of the theft.
o Acquired possession lawfully
Breach of Fiduciary Duty
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