Internal Fraud
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Title: Internal Fraud

Essay Details:

Subject: Business
Author: Kathie W
Date: October 23, 2015
Level: University
Grade: A
Length: 7 / 1956

Essay text:

According to one organization: Here are some shocking statistics: • $652 billion in revenues are lost annually to fraud, or 5% of total revenues • The average fraud scheme lasted 18 months before it was detected • Organizations lose 20% of every dollar earned to some type of workplace fraud • Fraud reduces net income dollar for dollar, meaning that if the profit margin is 10%, an additional $100,000 of revenue would have to be generated to cover a $10,000 fraud (Upcoming Events , 2006) There are two categories of internal fraud, misappropriation of assets and fraudulent financial reporting...

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