What Is the Fraud Triangle? Which Element of the Fraud

question 83

Essay

What is the fraud triangle? Which element of the fraud triangle is most closely connected with internal controls?

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Definitions:

Congress

The national legislative body of the United States, consisting of two chambers: the House of Representatives and the Senate.

Organizational Chart

A diagram that displays the structure of an organization, detailing the roles, responsibilities, and relationships between individuals within the entity.

Internal Structure

The way in which an organization or system is arranged, including the relationships between its components and the distribution of authority and responsibilities.

Power

The ability or capacity to influence others' behavior or the course of events, often discussed in the context of politics, social relationships, or organizational dynamics, and can be derived from various sources such as position, wealth, knowledge, or social connections.