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Answer the following questions: 1- Discuss what has to happen for a fraud scheme to occur, and what the concept of fraud triangle means. 2-

Answer the following questions:

1- Discuss what has to happen for a fraud scheme to occur, and what the concept of fraud triangle means.

2- Discuss an example of risk factors that are present in the following two types of schemes and how the three factors that determine a possible fraud scheme (discussed in question # 1) are manifested in your examples

a- Fraudulent disclosure (fraudulent reporting)

b- Misappropriations of assets

3- Explain in detail what are the elements that the AICPA recommends taking into consideration to prevent, discourage and detect (prevent, deter and detect) fraud in an audit.

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