The document discusses popular fraud schemes involving fixed assets and how to prevent them. It describes frauds such as misappropriation of assets, recognition of fictitious assets, and misrepresentation of asset values. To prevent fixed asset fraud, the document recommends conducting regular physical counts of assets, approving additions and disposals with documentation, and reconciling asset records with the general ledger. Preventive measures also include asset tagging, maintaining an up-to-date fixed asset register, and implementing physical controls over assets.