Analyse fraud risk pertaining to steinhoff

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Reference no: EM133234183

Q: Using the Fraud Exposure Rectangle, analyse fraud risk pertaining to Steinhoff that a forensic accountant could have identified.

Background:

Steinhoff International Holdings was accused of a major financial statement fraud which involved overstatement of profits about $7.4 billion over eight years, which was the biggest corporate fraud in South Africa's history. This fraud was discovered in 2017 while suspicions of the fraud surfaced much earlier. Compared to the attributes of a typical fraud as per Association of Fraud Examiners (2022) report on occupational fraud, the Steinhoff fraud can be regarded as one of the major fraud cases in impact and duration.

Reference no: EM133234183

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