Details

Fraud 101


Fraud 101

Techniques and Strategies for Understanding Fraud
3. Aufl.

von: Stephen Pedneault

47,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 10.03.2010
ISBN/EAN: 9780470647844
Sprache: englisch
Anzahl Seiten: 256

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Beschreibungen

<p>A straightforward guide explaining the nature of financial fraud</p> <p>Fraud continues to be one of the fastest growing and most costly crimes in the United States and around the world. The more an organization can learn about fraud in general and the potential fraud risks that threaten the financial stability of the organization's cash flow, the better that organization will be equipped to design and implement measures to prevent schemes from occurring in the first place.</p> <p><i>Fraud 101, Third Edition</i> serves as an enlightening tool for you, whether you are a business owner or manager, an accountant, auditor or college student who needs to learn about the nature of fraud. In this invaluable guide, you will discover and better understand the inner workings of numerous financial schemes and internal controls to increase your awareness and possibly prevent fraud from destroying your organization's financial stability.</p> <p>It offers guidance, understanding, and new, real-world case studies on the major types of fraud, including<br /> </p> <ul> <li>An understanding of why fraud is committed</li> <li>An overview of financial fraud schemes</li> <li>White-collar crime</li> <li>Uncovering employee embezzlements</li> <li>Establishing internal fraud controls</li> <li>The nature of collecting evidence</li> </ul> <p>With case studies included throughout the book to gain insight to the real world of fraud, <i>Fraud 101, Third Edition</i> describes the features of fraud and then provides proven methods of prevention, as well as solutions to expose different types of fraud.</p>
<p>Preface ix</p> <p>Acknowledgments xv</p> <p>Introduction xvii</p> <p><b>Chapter 1 The World of Fraud 1</b></p> <p>Definition of Fraud 1</p> <p>The Many Types of Fraud 2</p> <p><b>Chapter 2 Why Is Fraud Committed? 19</b></p> <p>A Rationalizing Society 20</p> <p>Financial Statement Fraud 22</p> <p>Financial Fraud Comes in Different Shapes and Sizes 23</p> <p>Motivators Differ by Type of Business 25</p> <p>Employee Schemes 27</p> <p>In the End 32</p> <p><b>Chapter 3 Financial Statement Fraud Schemes 33</b></p> <p>Where Do Things Go Wrong? 34</p> <p>Trend Analysis 42</p> <p>Beyond Traditional Audits 45</p> <p><b>Chapter 4 Employee Embezzlements 51</b></p> <p>The Fraud Triangle 55</p> <p>Areas for Concern 57</p> <p><b>Chapter 5 Other Fraud Schemes 69</b></p> <p>Duplicate Payment Fraud 71</p> <p>Multiple Payee Fraud 72</p> <p>Shell Fraud 73</p> <p>Defective Delivery Fraud 77</p> <p>Defective Receipt Fraud 88</p> <p>Defective Shipment Fraud 89</p> <p>Defective Pricing Fraud 91</p> <p><b>Chapter 6 Contract Rigging Schemes 97</b></p> <p>Stage One: Obtaining the Contract 97</p> <p>Stage Two: Contract Change Orders 102</p> <p>Unbalanced Bidding 114</p> <p>Detection Recommendations 118</p> <p>Rotation Fraud 119</p> <p>Where Do We Go from Here? 121</p> <p><b>Chapter 7 Responses to Fraud 123</b></p> <p>Government’s Response to Fraud 124</p> <p>Accounting Profession’s Response to Fraud 129</p> <p>Internal Audit Profession’s Response to Fraud 133</p> <p>New Credentials, More Training, Better Awareness 134</p> <p>Articles, Books, and More Resources 136</p> <p><b>Chapter 8 The Importance of Internal Controls and Internal Audit 143</b></p> <p>Why Have Internal Controls? 144</p> <p>Déjà Vu 148</p> <p>Good Internal Controls 150</p> <p>Internal Audit 152</p> <p><b>Chapter 9 Evidence 159</b></p> <p>What Is Evidence? 160</p> <p>Documentation 163</p> <p><b>Chapter 10 Conducting Fraud Investigations: A Practical Approach 171</b></p> <p>Proactive Fraud Investigations 171</p> <p>Discovery Investigations 172</p> <p>Supportive Investigations 175</p> <p>Strategy 178</p> <p>Predication 180</p> <p>The Investigative Plan 181</p> <p>Conducting the Procedures 183</p> <p>Findings 186</p> <p>Use of the Findings 188</p> <p><b>Chapter 11 Fraud Investigation Alternatives 189</b></p> <p>Assessing the Feasibility of a Full Investigation 189</p> <p>Monitoring Operational Areas at Risk of Fraud 197</p> <p>Revamping Internal Controls: Closing the Barn Door 200</p> <p>Doing Nothing? 203</p> <p><b>Appendix A Vending 209</b></p> <p>Lessons Learned 213</p> <p><b>Appendix B Living a Façade 217</b></p> <p>Prevention Techniques 221</p> <p><b>Appendix C Disappearing Inventory 225</b></p> <p>Internal Controls 230</p> <p>Index 231</p>
<b>Stephen Pedneault, CPA, CFF, CFE,</b> is the founder and Principal of Forensic Accounting Services LLC, a CPA firm located in Glastonbury, Connecticut, specializing in forensic accounting, employee fraud, and litigation support matters. Steve is also the author of the forthcoming Wiley title, Anatomy of a Fraud Investigation. He has written numerous articles appearing in local and national media and is a contributor to Fraud Casebook: Lessons from the Bad Side of Business (Wiley). For more information about Stephen Pedneault, go to www.forensicaccountingservices.com.
<b>Praise for Fraud 101 Third Edition</b> <p>"With this new edition of Fraud 101, I am amazed at how much information Stephen delivers in such a concise and succinct manner. His descriptions are detailed, but easy to understand, and the case examples really help illustrate the schemes. This is an excellent reference book for anyone in the fraud prevention field, whether they are a seasoned veteran or just starting out."<br /> —John D. Gill, JD, CFE Research Director, Association of Certified Fraud Examiners</p> <p>"Awesome! Sit at the head of the class—read Fraud 101 and get an A+ in understanding fraud. This book takes the reader from the classroom to the real world with its insightful case studies and practical techniques. A must-read for accountants, other professionals, business owners, and students of fraud."<br /> —Thomas Scanlon, CPA, CFP®President, Borgida & Company, PC, CPAs</p> <p>"The author clearly demonstrates his mastery of the subject matter in this well-written, easy-to-read, comprehensive guide to understanding fraud. The case studies provide insight into the definition of fraud, the different types of fraud, the perpetrator's rationale and a practical approach to investigation and prevention. The ever evolving nature of this relevant subject matter makes this book a must-read for anyone interested in learning about fraud and its wide-reaching effects."<br /> —Jeffrey Rossi, CPA, CVA, CFEPartner, J.H. Cohn, LLP</p> <p>"This book is very readable and loaded with examples from the author's rich experience in forensic accounting services. The discussions of the types of fraud and the pitfalls to watch for were very practical guidance for accountants and business people in general."<br /> —Lawrence J. Gramling, PhD, CPA Assistant Department Head, Department of Accounting, University of Connecticut</p> <p><b>Root out fraud before it happens with the hands-on approach found in Fraud 101, Third Edition</b></p> <p>The more your organization can learn about fraud and the potential risks that can threaten its financial stability, the better you will be equipped to prevent schemes from occurring in the first place. The only primer you need to fully understand financial fraud, <i>Fraud 101, Third Edition</i> expertly arms you with the tools to eliminate future frauds and reduce fraud losses.</p>

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