Details

Holding Accountants Accountable


Holding Accountants Accountable

How Professional Standards Can Lead to Personal Liability
1. Aufl.

von: Jeffrey G. Matthews

46,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 11.11.2019
ISBN/EAN: 9781119597704
Sprache: englisch
Anzahl Seiten: 240

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Beschreibungen

<p><b>An essential guide for practitioners on avoiding unethical situations in a fraud investigation—provides tips, techniques, and real-life examples</b></p> <p>Credentialed accountants, auditors, and fraud examiners who fail to identify fraud and misconduct may be in violation of their professional standards. Among these standards are requirements to exercise professional and moral judgment, act in the best interest of the public, maintain integrity, objectivity, and independence, render opinions based on evidence and documentation, and exercise due care in planning and discharging professional activities. Failing to adhere to professional standards and ethical codes have serious consequences for CPAs, CFEs, and CIAs engaged in fraud investigations. <i>Fraud</i> helps readers avoid unethical situations in fraud investigations and stay within the boundaries of professional guidelines and standards.</p> <p>Author Jeffrey Matthews combines real-world techniques and practical advice with personal insights from his experience as a forensic accountant. Detailing how he faced death threats, retaliation, and family hardships during actual fraud investigations, the author shares how despite serious challenges, he never deviated from professional standards. The author demonstrates how accountants can avoid being caught in unethical practices and examines the common tendencies that hinder the ability to detect, deter, and prevent fraud and misconduct. This fascinating, highly-relevant book will help practitioners:</p> <ul> <li>Recognize current and emerging trends to identify new areas of weakness</li> <li>Address time and budget constraints with effective delegation and supervision of lower-level staff</li> <li>Maintain a healthy dose of skepticism by ‘testing not accepting’</li> <li>Understand the effort and expertise required to perform an investigation before accepting engagements</li> <li>Avoid establishing biases and pre-determining outcomes before accepting assignments</li> </ul> <p>A full-featured resource, complete with PowerPoint slides and a test bank, <i>Fraud</i> is invaluable for auditors, accountants, and other certified fraud examiners.</p>
<p>Preface vii</p> <p>Introduction xi</p> <p>Statement on Standards for Consulting Services xx</p> <p>Discussion Points xxvii</p> <p><b>Chapter 1: F – Forgetting the Present and the Past 1</b></p> <p>Fraud in the Present and Past 1</p> <p>Management 6</p> <p>External Auditors 11</p> <p>Internal Auditors 17</p> <p>Ethical Standards around the World 18</p> <p>Audit versus Fraud Investigation 32</p> <p>Summary 40</p> <p>Recommendations 40</p> <p><b>Chapter 2: R – Relying on Others 45</b></p> <p>Introduction 45</p> <p>Management 46</p> <p>External Auditors 55</p> <p>Internal Auditors 69</p> <p>Expert Witnesses 71</p> <p>Additional Considerations 74</p> <p>Summary 75</p> <p>Recommendations 75</p> <p>Discussion Questions 76</p> <p><b>Chapter 3: A – Accepting, Not Verifying 81</b></p> <p>Introduction 81</p> <p>Sufficient Evidential Matter 84</p> <p>Management 89</p> <p>External Auditors 96</p> <p>Others: Expert Witnesses 100</p> <p>Summary 106</p> <p>Recommendations 106</p> <p><b>Chapter 4: U – Underestimating the Effort 109</b></p> <p>Introduction 109</p> <p>External Auditors 111</p> <p>Expert Witnesses, Fraud Examiners, and Consulting Experts 118</p> <p>Management and Internal Audit 136</p> <p>Summary 137</p> <p>Recommendations 138</p> <p><b>Chapter 5: D – Determining the Outcome Before the Work 141</b></p> <p>Introduction 141</p> <p>Objectivity 145</p> <p>Objectivity in Other Areas 152</p> <p>Due Professional Care and Skepticism 154</p> <p>Summary 164</p> <p>Recommendations 164</p> <p><b>Chapter 6: Overcoming Barriers to Reporting Fraud and Misconduct 167</b></p> <p>Introduction 167</p> <p>Barriers 168</p> <p>Summary 189</p> <p>Recommendations 190</p> <p>About the Author 195</p> <p>Acknowledgments 197</p> <p>Index 203</p>
<p><b>JEFFREY G. MATTHEWS, CPA, CFE,</B> is a partner at StoneTurn, a global advisory firm with offices throughout the U.S., U.K. and in Germany, Brazil, and South Africa. Jeff opened StoneTurn’s office in the DFW market. Matthews is an active member and past president of the Dallas Chapter of the Association of Certified Fraud Examiners. He teaches Forensic Accounting and Fraud Investigations at the University of Texas, Arlington for the Master of Business Administration degree program, a class he created. Matthews was the 2013 Certified Fraud Examiner of the Year and has been recognized for his client service, professional collaboration, and thought leadership throughout his career.</p>
<p><i>Holding Accountants Accountable</i> offers a detailed review of Jeffrey Matthews’ remarkable (and often hair-raising) journey as a forensic accountant and contains hard-won, practical advice to help accountants avoid being caught in unethical practices. During the course of his career, Matthews faced death threats, retaliation, and family hardships while working on various fraud investigations. While challenged on many occasions, he never deviated from upholding professional standards.</p> <p><i>Holding Accountant Accountable</i> is filled with real-life stories that clearly illustrate the common tendencies that so often hinder an accountant’s ability to detect, deter, and prevent fraud and misconduct that could violate the standards and ethics of the accounting profession. Drawing on his years of experience, Matthews explains how accountants can avoid being subject to unethical and fraudulent practices, such as: <p><b>F</b>orgetting the Present: Many practitioners feel it could never happen to them or to their clients. Professionals must stay on top of emerging trends to identify new areas of weakness. <p><b>R</b>elying on Others: A work environment that is not conducive to collaboration, relies on inexperienced staff, and/or combined with an over-extended supervisor with limited time (or budget) can lead to a disaster. <p><b>A</b>ccepting Not Testing: Practitioners must maintain a healthy dose of skepticism in discharging their duties. <p><b>U</b>nderestimating the Effort and Qualifications: Often practitioners are presented with assignments but have little time, budget, or direction. Some firms push examiners to accept engagements they are not fully qualified to perform. <p><b>D</b>etermining the Outcome Prior to Performing the Assignment: Examiners can become close to their clients and establish biases. Sometimes, the examiner may not realize there is a bias at all. <p>In addition to the author’s many colorful examples, Matthews clarifies his points by including the standards from the American Institute of Certified Public Accountants, the Association of Certified Fraud Examiners, and the Institute of Internal Auditors. <p>Written for accountants that want to maintain the highest ethical standards of their profession, <i>Holding Accountants Accountable</i> is a readable resource written by an acclaimed accountant, lecturer, and college professor.

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