According to the fraud triangle, in order for fraud to take place,three conditions need to exist.List and describe these three conditions as they relate to the following example:

Mrs. Smith works for a professional services firm and has the ability to collect cash from customers, record accounting transactions in the accounting information systems, and she prepares the bank deposits.She recently found out that her daughter got into a very expensive school.She had always told her daughter that school was very important and that she should not have to worry about how to pay for it.Now that Mrs. Smith sees the tuition amount for the school her daughter plans to go to, she knows that she can not afford to pay for all of it on her small salary.She has always worked very hard for her company and they can afford to lose a bit of money.She decides to start stealing funds from the company she works for in order to help pay her daughters tuition.