Business and Professional Ethics Term Paper

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Business and Professional Ethics

The fraud triangle is an old and basic concept that is usually used to detect the occurrence of fraud or deter it from taking place. The paper is a case study of an employee and its main focus will be application of the fraud triangle in detecting the fraud or deterring such a fraud from happening again in the organization.

When a fraud occurs there are three elements that typically present; opportunity, motivation and rationalization. The first and crucial element of committing fraud is opportunity. Many business without knowing create an opportunity for dishonest employees to commit fraud through the exercising of weak control such as lack of supervision and lack of duties segregation. For instance the task of preparing signing and recording cheques should not be given to one employee. Such a scenario can create an opportunity for committing fraud as an individual can easily write a cheque for themselves without anyone noticing.in this case study Daren Jones had the opportunity of committing the fraud.

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This is because he was the one in charge of opening mail, making cash deposits posting payments and invoices to the subsidiary accounts that are held by customers. He is also the one who verifies the deposit slips and gives them to the general ledger accountant. Therefore Darren Jones had an opportunity to commit the fraud as he was the one that was directly involved in depositing money to the customer accounts and preparing the deposit slips.

Motivation which can also be termed as pressure is the reason why the employee performs the This can be a real financial need or other types of needs such as debts, high medical bills and so on. When we look at the case study w can say that the motivation that Darren Jones had when he committed the fraud was the fact that he had found himself in difficult financial circumstances. He came to the realization that if he did not commit the fraud then he would have had….....

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