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    Tragedy of Fraud: The Ripple Effects From Fraud and the Wages Earned
    Tragedy of Fraud: The Ripple Effects From Fraud and the Wages Earned
    Tragedy of Fraud: The Ripple Effects From Fraud and the Wages Earned
    Ebook54 pages44 minutes

    Tragedy of Fraud: The Ripple Effects From Fraud and the Wages Earned

    By James Ulvog

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    About this ebook

    Just like throwing a stone into a calm lake produces ripples all over the water, fraud creates widespread ripples.

    Chapter 1 discusses the tragic effects of a fraud in a local church. The damage spreads out to harm a lot of people. The wide ripples in the life of the fraudster and surprise victims are rarely seen.

    Chapter 2 discusses the wages of fraud. Wages are something we work for, deserve, and are entitled to. Likewise in a fraud there are wages rightfully earned that will be paid in full. Wages for a mayor include jail, publicity, loss of employment, bankruptcy, and divorce.

    Chapter 3 looks at the fraud in the mayor’s office as a case study of why frauds in general are difficult for an auditor to find. Corruption frauds are even tougher to uncover.

    Chapter 4 discusses the three sides of the fraud triangle and what organizations can do to minimize the factors. When opportunity, motivation, and rationalization get together, the conditions are set for a fraud.

    LanguageEnglish
    PublisherJames Ulvog
    Release dateNov 20, 2013
    ISBN9780977436187
    Tragedy of Fraud: The Ripple Effects From Fraud and the Wages Earned

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      Book preview

      Tragedy of Fraud - James Ulvog

      Tragedy of Fraud

      The Ripple Effects from Fraud and the Wages Earned

      James L. Ulvog, CPA

      Published by Riverstone Finance Press

      Alta Loma, California

      Smashwords Edition

      Copyright 2013 James L. Ulvog

      All Rights Reserved.

      978-0-9774361-7-0

      Scripture taken from the Holy Bible, New International Version(r) Copyright (c) 1973, 1978, 1984 by International Bible Society. Used by permission of Zondervan Publishing House. All rights reserved.

      This book is distributed with the understanding that the author and publisher are not rendering accounting or other professional services in this publication. If accounting advice or expert assistance is required, the services of a competent professional should be retained.

      Most of the material in this book was previously published by the author on his weblogs.

      Smashwords Edition, License Notes

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

      Contents

      Introduction

      Tragedy of Fraud – The Ripple Effects from the Embezzlement Fraud in a Local Church

      Wages of Fraud – Consequences from the Corruption Fraud in a Mayor’s Office

      Why is it Difficult to Find Fraud? - The Corruption Case as an Illustration

      The Fraud Triangle – Danger When All Three Sides Are Present

      About the Author

      More Resources from James Ulvog

      ~~~~

      Introduction

      Just like throwing a stone into a calm lake produces ripples all over the water, fraud creates widespread ripples. Part 1 discusses the tragic effects of a fraud in a local church. The damage spreads out to harm a lot of people. The wide ripples in the life of the fraudster and surprise victims are rarely seen.

      Serious penalties were paid by the participants of a corruption case that took place in a city near where I live. It is not just the jail time and publicity. There are consequences for employment and business. Lots of relationships can be destroyed. The fraud cost the principal player his marriage. The list of consequences is far longer than you would expect. Part 2 discusses the wages of fraud. Wages are something we work for, deserve, and are entitled to. Likewise in a fraud there are wages rightfully earned that will be paid in full.

      After a fraud surfaces, the hue and cry arises of where were the auditors?!? Part 3 looks at the fraud in the mayor’s office as a case study of why frauds in general are difficult for an auditor to find. Corruption frauds are even tougher to uncover.

      Just as it is necessary to have fuel, heat, and oxygen to get a fire going, there are three components needed to get a good fraud running. When opportunity, motivation, and rationalization get together, the conditions are set for a fraud. Part 4 discusses the three sides of the fraud triangle and what organizations can do to minimize the factors.

      This e-book is a compilation of posts previously published on my blogs. These are primarily from Nonprofit Update (nonprofitupdate.info) with some from Attestation Update (attestationupdate.com).

      The posts have been edited slightly from how they were originally published. They are also reorganized from chronological for a better flow. These posts were written over the course of three years. To provide context, the date of each post is listed.

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