RECOGNIZING THE INDICATORS OF FRAUDS BY TRACING THE ELEMENTS OF FRAUD TRIANGLE AND ITS DETERRENCE

The present paper endeavors to throw light on the factors that stimulates an individual to commit fraud in the light of the fraud triangle theory. Based on the existing theories and literature, an attempt has been made to recognize the red-?ags of fraud risk related to an individual's behavioral approach. The paper further suggests that of the other elements, a check on the Opportunity vertex of the triangle can control the intensity of the fraud. It also highlights the applicability of SAS-99 and COSO framework for deterring fraud constituents from the system