Define "fraud." List and briefly discuss the three major components of the fraud triangle. Fraud is made the purpose of a periodic examination of a company's financial statements an insurance policy an intentional misrepresentation of facts Define "fraud." List and briefly discuss the three major components of the fraud triangle. Fraud is made for the purpose of determining whether the company is following legal requirements persuading another party to act in a way that causes injury or damage to that party reimbursing a company for losses due to employee theft