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FOR3703 OCTOBER NOVEMBER PORTFOLIO (COMPLETE ANSWERS) Semester 2 2024 - DUE 31 October 2024; 100% TRUSTED Complete, trusted solutions and explanationsR46,45
, Scenario Financial statement fraud is a
white-collar crime usually perpetrated by
management insiders to present a
company in a favourable fiscal light.
Fraudsters are motivated by personal
gain such as performance-based
compensation for the enhancement of
company’s reputation by misleading
potential investors. Or they want to buy
time to correct their financial mistakes or
recoup their losses. Financial statement
fraud is a crime of opportunity.
Companies with lax internal controls,
manual accounting systems or
dishonest and overly aggressive leaders
are more likely to fall prey to it. The key
to combating financial statement fraud is
to prevent it from ever happening. If it
cannot be prevented, it must be found
as soon as possible. Based on the
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