3/25/19
AICPA Definition of Fraud “An intentional act that results in material misstatement in financial statements that are subject to audit…There are two types of fraud: • Misstatements from fraudulent financial reporting & • Misstatements frommisappropriation of assets”
Principal Categories of White Collar Crime
Misrepresentation of material facts Concealment of material facts
•
•
Bribery
•
Conflicts of interest
•
Theft of money or property
•
• Theft of trade secrets or intellectual property • Breach of fiduciary duty • Statutory offenses
3
Made with FlippingBook - professional solution for displaying marketing and sales documents online