Median loss
Definition
The loss figure at the midpoint of the distribution of cases, used in the ACFE's data because it is more representative of typical cases than the mean, which is skewed by a small number of extremely large frauds.
Related terms
- Asset misappropriation
- Schemes in which an employee steals or misuses the employing organisation's resources. The most common fraud category by frequency, encompassing cash theft,...
- Corruption
- Schemes in which an employee misuses their position or influence for personal gain, typically involving an external party. Includes bribery, kickbacks, conflicts...
- Financial-statement fraud
- Intentional misstatement or omission of material information in financial reports to deceive users. Includes revenue overstatement, expense understatement, and asset misrepresentation. Least...
- Occupational Fraud Tree
- The ACFE's hierarchical classification of occupational fraud schemes, with three top-level branches (asset misappropriation, corruption, financial-statement fraud) subdividing into dozens of named...
- Skimming
- Taking cash or other payments before they are entered into the accounting records. Leaves no direct accounting discrepancy, making detection dependent on...
Explained in
- The ACFE Occupational Fraud TaxonomyThe loss figure at the midpoint of the distribution of cases, used in the ACFE's data because it is more representative of typical cases than the mean, which i...