The objective of this research is to investigate the fraud firms’ characteristics in two ways; 3 years prior and after, the fraud occurrences. The characteristics comprise of the firms’ audit committee size, audit committee independence, board’s size, independent directors, block holders, cash flows operating and long term debts. The sample includes the fraudulent firms identified based on certain restrictions consistent with prior literature. Data collection is hand collected via corporate annuals reports. The significance of the research project is to identify the fraud firms’ characteristics and provide some insights before and after the fraud took place. Findings show that block holders and independent directors are important features in an organisation.