Lesson: Reasons for Committing Fraud

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In this lesson, Nick Palazzolo, CPA, demystifies the fraud triangle—a fundamental concept that explains the three main factors leading to fraud within an organization. By referencing important elements of corporate and IT governance, he illuminates how pressure, opportunity, and rationalization play pivotal roles in the commission of fraud. Nick illustrates through relatable examples how individuals might find themselves incentivized to commit fraudulent acts, identify weaknesses in control systems, and justify their unethical actions. Throughout the lesson, he juxtaposes ethical responses to the temptations of committing fraud, counseling against taking actions that violate both legal and ethical standards.

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