Principle of Accounting

You may have heard of the accounting and fraud scandals that flooded the news in the early 2000s. Many of these scandals are examples of large-scale fraud. Fraud can happen to individuals or organizations of any size. Think of a personal or professional situation where you were either involved in or heard about fraudulent activity. What elements of the fraud triangle were present in that situation? How could the fraud have been prevented? Read through your peers’ posts, and when you respond to them, consider the following: Provide additional suggestions to your peers about the elements of the fraud triangle that were present in the situations that they discussed. Discuss additional ways to prevent the fraud