ABSTRACT
Introduction According to a 2015 report to the nation from the Association of Certified Fraud Examiners (ACFE), the three main components of occupational fraud are
◾ Asset misappropriation ◾ Corruption ◾ Financial statement fraud [1]
Asset Misappropriation Of the three referenced components, asset misappropriation is the most common type of fraud plaguing businesses across the country. Asset misappropriation can be defined as fraud that happens when people who are entrusted to manage the assets of an organization steal from it. Asset misappropriation fraud involves third parties or employees in an organization who abuse their position to steal from it through fraudulent activity. It can also be known as insider fraud [2].
