The opportunity to commit fraud exists if there are weaknesses in the accounting system that involves analyzing, recording and summarizing the results of business activities.

Question

Quizplus · Accepted Answer

Weaknesses in the accounting system create loopholes that can be exploited by fraudsters to manipulate financial information, conceal transactions, and misrepresent the true financial position of an organization. Therefore, a strong internal control environment is essential for preventing and detecting fraud.

The Opportunity to Commit Fraud Exists If There Are Weaknesses