Final answer:
The condition 'd) Flawed moral character' is not part of the fraud triangle. the three elements of the fraud triangle are incentives or pressures, rationalization and opportunity all of which help explain the psychological and situational factors that lead to fraud.
Step-by-step explanation:
The condition for fraud as identified in the fraud triangle that is not relevant is d) Flawed moral character. The fraud triangle consists of three elements that contribute to fraudulent behavior: a) Incentives or pressures, b) Rationalization, and c) Opportunity. The three points of the triangle help explain why individuals commit fraud. Incentives or pressures can include financial need or the desire to maintain a certain lifestyle.
Opportunity involves the ability to carry out the fraud with a low perceived risk of getting caught, such as weak internal controls. Rationalization is the cognitive process by which the individual justifies their dishonest actions, often by seeing themselves as deserving or the actions as harmlessly bending the rules. The concept of a flawed moral character is not one of the components of the fraud triangle; however, it may be an underlying issue in why an individual rationalizes fraudulent behavior.