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Question 2 20 marks The second lecture in the course (ACC503) has just begun and the lecturer introduces the topic Computer Fraud to the students
Question 2 20 marks The second lecture in the course (ACC503) has just begun and the lecturer introduces the topic "Computer Fraud" to the students present in room B1104. He talks on the importance of understanding any individual's motivation for engaging in fraud or in any type of deviant behavior. Later in the session, the students are connected to a webinar where the guest speaker, Dr. Gilbert Geis, CFE, talks about motivations for fraudulent behavior. During the question-and-answer session, a student asked him, "Why do people commit fraud? " He answered very matter of factly, "We don't know." He went on to say that we really can't say for certain why one person commits fraud and another one doesn't when they both need money. Required: i. Construct a diagram of the Fraud Triangle and clearly label each element of the Fraud Triangle. (5 marks) ii. For each of these three elements labeled in (i) above, provide an explanation (at least three sentences) on each of the three elements, specifically addressing how it could contribute to fraud. (9 marks) 111. For each element of the Fraud Triangle, list and briefly discuss internal controls for each of the three elements that could help to reduce the impact of potential frauds related to that element of the Fraud Triangle. (6 marks)
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