Fraud triangle
Bill Perry is a CPA with a secret. His secret is that he gambles on sports. Bill knows that his profession disapproves of gambling, but considers the professional standards to be misguided in his case. Bill really doesn’t consider his bets to be gambling because he spends a lot of time studying sports facts. He believes that he is simply making educated decisions based on facts. He argues that using sports, facts to place bets is no different than using accounting information to buy stock.
Required
Use the fraud triangle as a basis to comment on Bill Perry’s gambling activities.
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