Corporate Fraud Handbook: Prevention and Detection / Edition 2

Corporate Fraud Handbook: Prevention and Detection / Edition 2

by Joseph T. Wells
     
 

Corporate Fraud Handbook: Prevention and Detection, Second Edition

Fraud is a serious, costly, and growing epidemic for business and government.Now in a second edition, Corporate Fraud Handbook provides an insider's look into the most prevalent fraud schemes used by employees, owners, managers, and executives. Each scheme is illustrated with

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Overview

Corporate Fraud Handbook: Prevention and Detection, Second Edition

Fraud is a serious, costly, and growing epidemic for business and government.Now in a second edition, Corporate Fraud Handbook provides an insider's look into the most prevalent fraud schemes used by employees, owners, managers, and executives. Each scheme is illustrated with real-life case studies submitted to the Association of Certified Fraud Examiners (ACFE) by certified fraud examiners who aided in the case resolutions.

With tips and techniques to help spot the "red flags" of fraud, comply with recent regulation such as Sarbanes-Oxley, and develop and implement effective preventative measures, author and fraud authority Joseph Wells, founder and Chairman of the ACFE provides fraud examiners, auditors, investigators, loss prevention specialists, managers and business owners, criminologists, human resources personnel, academicians, and law enforcement professionals with a groundbreaking and relevant desktop resource.

Now including all-new statistics from the 2006 Report to the Nation, this comprehensive book explores the three main categories of occupational fraud and abuse—asset misappropriation, corruption, and fraudulent statements—and identifies and classifies thirteen separate schemes. Corporate Fraud Handbook, Second Edition also provides an overview of the complex social factors that go into creating an occupational offender, exploring the reasons behind people's deviances. In addition, this important book features:

  • Case studies revealing clear insights into the mind of the fraud-ulent employee
  • Observations and conclusions in each chapter to guide readers through devising prevention and detection strategies
  • A classification system explaining the various schemes used by offending executives, owners, managers, and employees
  • Tips and techniques to quantify the losses from schemes

From sophisticated investment swindles to petty theft, false overtime to pilferage, learn how to detect corporate fraud with the expert help found in Corporate Fraud Handbook.

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Product Details

ISBN-13:
9780470095911
Publisher:
Wiley
Publication date:
04/20/2007
Edition description:
REV
Pages:
456
Product dimensions:
7.34(w) x 10.04(h) x 1.52(d)

Meet the Author

Joseph T. Wells, CPA, CFE, is the founder and Chairman of the Association of Certified Fraud Examiners (ACFE) and a former adjunct professor of fraud examination at theUniversity of Texas–Austin. He writes, researches, and lectures to business and professional groups on fraud-related issues and is frequently quoted in the media. He has won top writing awards from both Internal Auditor and the Journal of Accounting magazines, and he is a winner of the Innovation in Accounting Education Award presented by the American Accounting Association. For his landmark research in fraud detection and deterrence, Mr. Wells has been inducted into the American Institute of Certified Public Accountants Business and Industry Hall of Fame and named to Accounting Today's list of top 100 most influential people for the last nine years in a row.

Table of Contents

Preface.

About the ACFE.

1. INTRODUCTION.

Defining Occupational Fraud and Abuse.

Research in Occupational Fraud and Abuse.

The 2006 Report to the Nation on Occupational Fraud and Abuse.

PART I:ASSET MISAPPROPRIATIONS.

2. INTRODUCTION TO ASSET MISAPPROPRIATIONS.

Overview.

Definition of Assets.

How Asset Misappropriations Affect Books of Account.

3. SKIMMING.

Case Study: Shy Doc Gave Good Face.

Overview.

Skimming Data from ACFE 2006 National Fraud Survey.

Unrecorded Sales.

Understated Sales and Receivables.

Theft of Checks through the Mail.

Case Study: Beverage Man Takes the Plunge.

Short-term Skimming.

Converting Stolen Checks.

Concealing the Fraud.

Detection.

Prevention.

4. CASH LARCENY.

Case Study: Bank Teller Gets Nabbed for Theft.

Overview.

Cash Larceny Data from ACFE 2006 National Fraud Survey.

Incoming Cash.

Cash Larceny from the Deposit.

Case Study: The Ol’Fake Surprise Audit Gets ’em Every Time.

Miscellaneous Larceny Schemes.

Detection.

Prevention.

5. CHECK TAMPERING.

Case Study: A Wolf in Sheep’s Clothing.

Overview.

Check Tampering Data from ACFE 2006 National Fraud Survey.

Forged Maker Schemes.

Intercepted Checks.

Forged Endorsement Schemes.

Altered Payee Schemes.

Concealed Check Schemes.

Authorized Maker Schemes.

Concealment.

Case Study: What Are Friends For?

Detection.

Prevention.

6. REGISTER DISBURSEMENT SCHEMES.

Case Study: Demotion Sets Fraud in Motion.

Overview.

Register Disbursement Data from ACFE 2006 National Fraud Survey.

False Refunds.

Case Study: A Silent Crime.

False Voids.

Concealing Register Disbursements.

Detection.

Prevention.

7. BILLING SCHEMES.

Case Study: Medical School Treats Fraud and Abuse.

Overview.

Billing Scheme Data from ACFE 2006 National Fraud Survey.

Cash-Generating Schemes.

Invoicing via Shell Companies.

Invoicing via Nonaccomplice Vendors.

Personal Purchases with Company Funds.

Case Study: For This Magazine, Internal Fraud Proved Hard to Digest.

Detection.

Prevention.

8. PAYROLL AND EXPENSE REIMBURSEMENT SCHEMES.

Case Study: Say Cheese!

Overview.

Payroll Scheme Data from ACFE 2006 National Fraud Survey.

Payroll Schemes.

Case Study: Frequent Flier’s Fraud Crashes.

Expense Reimbursement Data from ACFE 2006 National Fraud Survey.

Expense Reimbursement Schemes.

Detection of Payroll Schemes.

Detection of Expense Reimbursement Schemes.

Prevention of Payroll Schemes.

Prevention of Expense Reimbursement Schemes.

9. INVENTORY AND OTHER ASSETS.

Case Study: Chipping Away at High-Tech Theft.

Overview: Noncash Misappropriation Data from ACFE 2006 National Fraud Survey.

Misuse of Inventory and Other Assets.

Theft of Inventory and Other Assets.

Case Study: Hard Drives and Bad Luck.

Concealment.

Detection.

Prevention.

PART II: CORRUPTION.

10. BRIBERY.

Case Study: Why Is This Furniture Falling Apart?

Overview.

Corruption Data from ACFE 2006 National Fraud Survey.

Bribery Schemes.

Case Study: Keep Your Eye on the Salesman.

Something of Value.

Economic Extortion.

Illegal Gratuities.

Detection.

Prevention.

11. CONFLICTS OF INTEREST.

Case Study: Working Double Duty.

Overview.

Purchases Schemes.

Sales Schemes.

Other Schemes.

Case Study: A Parasite Farm.

Detection.

Prevention.

PART III: FRAUDULENT STATEMENTS.

12. FRAUDULENT STATEMENTS.

Introduction.

Fraud in Financial Statements.

Major Generally Accepted Accounting Principles.

Responsibility for Financial Statements.

Users of Financial Statements.

Types of Financial Statements.

The Sarbanes-Oxley Act.

Financial Statement Fraud Data from ACFE 2006 National Fraud Survey.

13. FRAUDULENT FINANCIAL STATEMENT SCHEMES.

Case Study: That Way Lies Madness.

Methods of Financial Statement Fraud.

Fictitious Revenues.

Timing Differences.

Case Study: The Importance of Timing.

Concealed Liabilities and Expenses.

Improper Disclosures.

Improper Asset Valuation.

Detection of Fraudulent Financial Statement Schemes.

Prevention of Financial Statement Fraud.

Case Study: All on the Surface.

14. OCCUPATIONAL FRAUD AND ABUSE: THE BIG PICTURE.

Defining Abusive Conduct.

Measuring the Level of Occupational Fraud and Abuse.

Understanding Fraud Deterrence.

The Corporate Sentencing Guidelines.

The Ethical Connection.

Concluding Thoughts.

Appendix: Code of Business Ethics and Conduct.

Bibliography.

Index.

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