The webinar on the topic “Fraud Triangle & Prevention of Fraud” was held on 27th March, 2021. This webinar is organised by the School of Management Studies, National Forensic Sciences University, Gandhinagar as a part of the Webinar Series-2021 by MBA-Forensic Accounting on Prevention of Financial Fraud.
Prof. (Dr.) S. O. Junare (Campus Director, NFSU) described various types of frauds, characteristics of the general fraud triangle, and organisational fraud triangle. The first component of fraud triangle is Motive of fraud; the Second component is Opportunity or supporting environment for fraud in the organisation and the third angle is Justification or Rationalization for committing fraud.
While explaining Organisational Fraud Triangle, Prof. (Dr.) S. O. Junare emphasised that if the Leadership or Senior Management of any organisation is ethical and honest, then there will be very low probability of fraud. He reiterated that to control the fraud there should be Ethical management and strong internal control. He also mentioned about tools and technologies which are available for the identification of errors, mistakes in accounting and financial transactions, and signals for potential frauds.
The webinar ended with Questions and Answers session.
The Coordinator of the webinar was Dr. Haresh Barot, Associate Dean, School of Management Studies.