Register now or log in to join your professional community.
Agree with all.
Occupational Fraud = Internal Fraud (it has3 types).
They are:
Asset Misappropriations--most common
Corruption: Magnitude depends upon circumstances of the cases.
and Financial Statement Frauds--less common but dangerous.
Misuse Of Employee Position, Designation, Authority Or Powers For His Benefits.
I agree with Mr. / Ayman Mohammed Atef
Internal fraud, also called occupational fraud, can be defined as: “the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the organization’s resources or assets
Fraud Tree
Occupational frauds are those in which an employee, manager, officer, or owner of an organization commits fraud to the detriment of that organization. The three major types of occupational fraud are: Corruption, Asset Misappropriation, and Fraudulent Statements. The complete classification of occupational fraud, frequently referred to as the Fraud Tree,
Occupational Fraud is one in which an employee, or a manager or statutory representative misuses or abuses his position for his own enrichment by intentional misappropriation or misuse of company assets
occupational fraud mean as an employee's misuse of his position
I AGREE WITH BOTH MR AYMAN M . ATEF & MR VENKITARAMAN ANSWER S
Occupational fraud is when fraud is committed by staff. In other words it is internal fraud. Whilst there are so many reasons that fraud may be committed, some of the most common reasons are
1. The confidence that it will not be detected.
2. Personal or sudden circumstances of financial crisis.
3. Too much time spent in a particular area or role
4. Lack of recognition & career progression
Occupational fraud is committed largely by individuals or small groups of individuals in connection with their occupation. It can include violation of law by businessmen, politicians, labor union leaders, lawyers, doctors, pharmacists, and employees who embezzle money from their employers or steal merchandise and tools.
