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Fraud & Financial Impropriety
Black’s Law Dictionary defines fraud as:
Financial fraud is one or more intentional acts designed to deceive other persons and cause them financial loss. Financial fraud and/or financial impropriety usually involves misappropriation of assets.
The principal categories of (financial) fraud are:
Statistics & Recommendations
According to Ernst & Young (2002):
According to the Association of Certified Fraud Examiners (2002 Report To The Nation):
Where a suspected fraud or financial impropriety comes to the attention of the Internal Audit Department, a Special Review is launched to determine the existence and extent of any fraudulent activities. Members of the University community should inform their unit head and the Director of the Internal Audit Department if they suspect fraud.
Last updated: April 25, 2007
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