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29. Investigating and detecting fraud is not an easy task and requires thorough knowledge about the nature of fraud, how it can be committed and

29. Investigating and detecting fraud is not an easy task and requires thorough knowledge about the nature of fraud, how it can be committed and concealed. Various theories have been propounded to explain why people commit fraud. Required a) Explain two of the fraud theories excluding the Fraud Triangle. b) Using the Fraud Triangle theory, discuss how financial statement fraud could be combated? Explain the term 'fraudulent financial reporting', illustrating your explanation with examples.

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