Conversion and concealment are two concepts that have gained widespread use in accounting fraud:

• Concealment: The moment a fraudulent act has occurred, efforts must be made by the wrongdoer to hide it.
• Conversion: The moment assets have been embezzled or stolen, and the unlawful act has been concealed, the perpetrator must convert the acquired assets to his or her own benefit.
• What are three of the possible steps that should be taken if internal fraud has been suspected within a firm, as well as three signs that a firms fraudulent perpetrator might exhibit after committing fraud?