How are different kinds of organizations affected by occupational fraud?

Expert Solution

Occupational fraud can be described as a fraud committed against a business by its own officers, employees, or directors. Such type of fraud is the most prevalent type of fraud against a business and its assets. The three prime categories of occupational fraud are corruption, asset misappropriation, and financial statement fraud. In today's world it is an international concern affecting organizations of all types and sizes of organizations.

Smaller organisations, those with fewer than 100 employees usually lack the financial resources for protecting themselves against this crime. The Smaller organisations are disproportionately more affected by occupational fraud in comparison to the larger organizations. Large organizations are more likely to have the financial resources to both protect against and recover from this type of fraud. It can lead to legal costs, financial losses, and damage to reputation in organizations of all sizes.

ekkarill92 answered 1 year ago

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