From internal control structures that are not fraud-specific to
insufficient communication in the fraud discovery-to-investigation
and conviction process, fraudulent activity is a widespread fact of
life in the business world. Historically, the corporate tendency
has been to react to fraud after the fact, rather than to be
proactive in its prevention. And in most cases, blame is directed
at accountants and auditors. Unfortunately, these officers are
rarely provided with the resources, proper training, and commitment
from top management that are essential to effective fraud detection
and control. The Accountants Guide to Fraud Detection and Control
offers comprehensive direction for this largely uncharted
area.
Two types of fraud are addressed in this book: fraudulent financial
reporting, also known as "Treadway" fraud, usually originating in
the top management sector; and "asset-theft" fraud, the more common
and more costly type, likely to be practiced by virtually anyone,
including outsiders. Treadway fraud is being adequately detected by
independent auditors (CPAs) in their annual audits. Asset-theft
fraud is not being adequately detected by anyone, with very few
exceptions. From following clues to achieving a prosecution, here
is sound advice that accountants and auditors will find invaluable.
Businesses lose over $100 billion a year to fraud. Only 20
percent is discovered. Whos to blame?
Accountants and internal auditors are often the scapegoats for
managements insufficient fraud detection operations and guidelines.
At last, here is comprehensive, intermediate training for
evaluating, devising, and installing fraud-specific internal
controls, and for conducting proactivefraud-specific examinations.
Including actual case studies, the authors show accountants and
auditors how to:
- Anticipate problems and follow clues
- Successfully disclose fraud
- Compile the evidence necessary to prosecute acts of fraud
- Develop investigative techniques
- Create effective internal controls . . . and much more, to fill
the needs of this crucial area.
www.wiley.com/account ing
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