Question

Visit the Association of Certified Fraud Examiners website and open the “2016 Report to the Nation” (s3-us-west-2.amazonaws.com/acfepublic/2016-report-to-the-nations.pdf). Read the two-page Executive Summary and fill in the following blanks.

4. Asset misappropriation was by far the most common form of occupational fraud, occurring in more than of cases, but causing the smallest median loss of .

Short answer

Answer

Asset misappropriation was by far the most common form of occupational fraud, occurring in more than 86% of cases, but causing the smallest median loss of $100,000.

Step-by-step solution

Step-by-Step SolutionStep 1: Introduction to topic

Asset misappropriation fraud: When any employee or any other person tries to steal some asset of the business by misusing their position by doing some fraud, it is known as asset misappropriation fraud.

Detailed explanation

Types of Fraud	How Often Included in Fraud Cases	Median Loss
Asset Misappropriation	86%	$100,000