Office of Internal Audit
Office of Internal Audit
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 -
Misappropriation of non-cash -
Corruption -
Fraudulent Statements -
The University administration encourages employees at all levels to report fraud, waste or abuse of university assets using established policies and procedures.