As businesses continue to grow, they open themselves up to the possibility of fraud. During an average year, fraud can cost employers anywhere between $200 and $400 million dollars. A fraud can be extremely devastating to a company, by destroying customer confidence or even cause bankruptcy. The first part of the thesis is devoted to describing fraud, how to deter it from happening, and how to deal with it if it should happen. The second part of the thesis is a case study on the Cendant Corporation. This is a perfect example of how a company is affected when the pressure of meeting Wall Street's expectations overrides common sense. Fraud is an issue that every company will have to face at one time or the other. How well prepared they are will determine the future of the company.B.S. (Bachelor of Science