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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 114 / 352

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© D.L. Crumbley

SAS No. 99 Types of Fraud

Unlike errors, fraud is intentional and most often involves deliberate concealment of facts by mgt., employees, or third parties

Fraudulent Financial Reporting: does not follow GAAP (e.g., recording fictitious sales)

Misappropriation of Assets: embezzling receipts, stealing assets, or causing an entity to pay for goods or services that have not been received.

Often accomplished by false or misleading records or documents, possibly created by circumventing internal controls.

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