Elizabeth Friswold, CPA, CFE is a manager at Corrigan Krause.

What is Accounting Fraud and What are the Different Types?

Many individuals want to know, what exactly is accounting fraud?  There are three different types of common accounting fraud:

  1. Misappropriation of Assets: For example, stealing inventory or cash. This is the most common type of accounting fraud.
  2. Bribery and Corruption: This means giving or receiving an unearned reward to influence someone’s be