>> Financial Accounting
One type of Fraud is embezzlement (the fraudulent conversion of property by a person in possession of that property where the possession was obtained pursuant to a trust relationship).
Annually, Marquet International issues the Marquet Report on Embezzlement. According to the 2010 report:
“Most major embezzlers appear to have been motivated by a desire to live a relatively more lavish lifestyle, rather than by financial woes."
Is greed a perceived pressure? If not how do we reconcile it to the results of the Marquet Report on Embezzlement findings that, “Most major embezzlers appear to have been motivated by a desire to live a relatively more lavish lifestyle, rather than by financial woes.”
Is the Fraud Triangle still appropriate in 2016 or should we now look at the Fraud Diamond in identifying the elements of a Fraud?
Give me your opinions and comment on the opinions of others.