What is the difference between civil fraud and accounting fraud?

Civil fraud and accounting fraud are two separate types of fraud that have different implications under California law. Civil fraud refers to a situation where a person or entity wilfully misrepresents themselves or deceives another in order to gain an advantage. Examples of civil fraud can include identity theft, mortgage fraud, insurance fraud, and investment fraud. Accounting fraud, on the other hand, is a more specific type of fraud that is focused on the misuse of financial information. It involves the intentional misrepresentation or misstatement of financial records to hide or manipulate the true financial condition of a company or individual. Common examples of accounting fraud include falsifying balance sheets, overstating assets, or understating liabilities. The main difference between civil fraud and accounting fraud is that civil fraud is the deliberate attempt to deceive, while accounting fraud is the intentional misrepresentation or manipulation of financial information. Civil fraud is a crime, which carries civil and/or criminal penalties, depending on the severity of the case; conversely, accounting fraud is a crime that carries criminal penalties.

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What is the difference between civil fraud and accounting fraud?

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