Financial Statement Fraud In An Organization: Issues And Solutions

  CHAPTER ONEINTRODUCTIONBACKGROUND OF THE STUDYThe web star dictionary defines fraud as “an intentional deception to cause a person to give up property or lawful right, which could also mean deceit, trickery or cheating. According to statement of internal audit standard No2 of the Institute of Internal Auditors, USA, fraud is defined as an array of irregularities or legal acts characterized by international deception. The world of financial statements fraud needs no introduction. The practice of manipulating the financial statements of companies to bolster their position is act new but got t…