Please respond to nathin with 100 words
Fraud is defined as an unethical decision made by an employee to obtain benefit for themselves at the cost of their employer or somebody who is not them. Furthermore, internal control is essentially just regulations put in place to prevent that sort of worst-case-scenario from ever occurring. Fraud can occur for multiple reasons. The fraud triangle depicts an employees motives when partaking: opportunity, financial pressure, and rationalization. To account for fraud, a new expense account must be opened and charged accordingly, depending on whether that money was able to be returned, or if it is now just considered a loss.
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