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Office of Internal Audit


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The Fraud Triangle

What is Fraud?

Fraud occurs when someone gains something of value, usually money or property, from a victim (individual or entity) by a deliberate misrepresentation of a matter of fact, thus obtaining an unauthorized benefit.

Fraud is the deliberate misrepresentation or omission of fact for the purpose to deprive or damage the university permanently of its legal rights to its assets. Some examples follow, note the list is not ALL-INCLUSIVE :

Misappropriation of cash -

  • Skimming.
  • Check tampering.
  • Larceny.
  • Fraudulent disbursement - payroll, expense reimbursement, billing.

Misappropriation of non-cash -

  • Destruction.
  • Identity theft.
  • Inappropriate use of records or removal of equipment.
  • Document forgery or alteration.

Corruption -

  • Bribery.
  • Conflict of interest.
  • Bid Rigging.
  • Kickbacks.

Fraudulent Statements -

  • Employment credentials.
  • Financial reporting and disclosure.
  • External reporting.

The University administration encourages employees at all levels to report fraud, waste or abuse of university assets using established policies and procedures.

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Office of Internal Audit
202 McLemore Hall
118 College Drive #5212
Hattiesburg, MS 39406

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