The Committee of Sponsoring Organizations (COSO) of the Treadway Commission is a voluntary, private-sector initiative dedicated to improving the quality of financial reporting through ethics, effective internal controls and corporate governance. ... " The governing board sets the proper tone for the control environment when it establishes and communicates a code of ethics, requires ethical and honest behavior from all employees, observes the same rules it expects others to follow, and requires appropriate conduct from everyone in the organization. ...

• Word Count: 3674
• Approx Pages: 15
• Has Bibliography
• Grade Level: Undergraduate

The Association of Certified Fraud Examiners, the recognized authority in fraud examination, defines occupational fraud as "the use of one's occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization's resources or assets." In the association's "2002 Report to the Nation on Occupational Fraud and Abuse," they estimate that 6% of gross revenue is lost to fraud. In 2002, that translated to approximately $600 billion dollars when applied to the Gross Domestic Product. Fraud falls into three broad categories: asset misappropr...

• Word Count: 2557
• Approx Pages: 10
• Grade Level: Undergraduate