Fraud is a serious crime that alters individuals and groups differently. Whether it is a small organization or a large firm, charade remains a relevant luck to the success of a company. Fraud that is uncovered within a company back end a good deal indicate the end of that organizations existence, which means that companies have to blast special care to nurse themselves as well as the many employees who depend on them everyday for survival. The advent of dishonest cases where individuals within organizations take advantage of a companys profits done technology or other means has created an increasing crucial need for companies to invest in fraud risk assessments, which helps to protect the company and its members. Cases like Enron, Madoff and other fraud cases have left(p) companies vulnerable regarding how to resolve potential problems that may be think to fraud. Fraud risk assessments, which is a series of assessments used to delineate the likelihood of a member or organization exploitation deception to make a personal gain deceitfully for oneself and/or create a loss for another (Samociuk & Iyer, 2010).
through the evaluation of the importance of fraud risk assessment and the elements of a good fraud risk assessment, one can fall in understand how fraud risk assessments can positively affect the success of a company.
Fraud risk assessment is an meaning(a) element of a successful corporation for several reasons. more or less of these reasons revolve around a companys naivete to the potential for fraud. well-nigh corporations state that they did not realize that they had a high risk of fraud, which causes one to ask whether fraud could be prevented (Samociuk & Iyer, 2010). This is often because close to companies base their operations on trust among their employees, which often leaves a company vulnerable to the idea that their employees will work honestly. This is often revealed to be untrue when corporations are being investigated by presidential term officials due to...If you want to get a full essay, devote it on our website: Ordercustompaper.com
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