The Handbook of Fraud Deterrence / Edition 1

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Product Details

  • ISBN-13: 9780471931348
  • Publisher: Wiley
  • Publication date: 1/2/2007
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 456
  • Product dimensions: 7.30 (w) x 10.10 (h) x 1.45 (d)

Table of Contents

List of Exhibits     xxi
Preface     xxiii
Acknowledgments     xxv
Professional Environment of Fraud Deterrence     1
Fraud Deterrence as a Business Management Tool     3
Introduction     3
Motivations for Process Improvement and Monitoring     3
How the Mighty Have Fallen     5
Importance of Internal Controls in Dynamic External Environments     6
Environmental Change and Its Effect on the Fraud Triangle     7
Where Is Bedrock for Fraud Deterrence?     9
Conclusion     11
Definition of Fraud Deterrence     13
Overview     13
Deterrence Activities Will Affect Control Culture     14
History of Fraud Deterrence     15
Introduction     15
Early Fraud Deterrence     15
Modern Fraud Deterrence     16
The Role of Professional Standards     29
Introduction     29
PCAOB Standards     29
American Institute of Certified Public Accountants Auditing Standards     31
American Institute of Certified Public Accountants Accounting and Review Standards     38
Institute of Internal Auditors Standards     38
Associationof Certified Fraud Examiners Standards     39
Certified Fraud Deterrence Analyst-National Association of Certified Valuation Analysts     40
The Fraud Triangle     41
Overview     41
Elements     41
The Fraud Triangle and Financial Reporting Fraud     45
Motivations of Fraud Deterrence and the Transition to Investigation     47
Introduction     47
Motivations for Deterrence Analysis     48
Transition to Investigation     50
Conclusion     55
A Fraud Deterrence Professional's Overview of the Legal Process     57
Introduction and Objectives     57
Basics of Opinion Testimony and the Role of the Judiciary     57
Expert Qualification Standards: When Is a Witness an "Expert"?     59
Admissibility versus Weight: When Is an Expert's Opinion and/or Testimony Admissible?     60
Limitations on the Scope of Expert Opinion Testimony     63
Reports and Discovery Obligations     64
Conclusion     65
Human Resources Concerns     69
Retaliation: The Newest Wave of Employment Litigation     69
An Ounce of Prevention: Background Checks and Employment Inquiries Under the Fair Credit Reporting Act     79
Checklist for Complying with the FCRA When Using a Third Party to Obtain "Consumer Reports"     83
Conclusion     84
Selected Federal Whistleblower Statutes     85
The U.S. Equal Employment Opportunity Commission     86
Disclosure to Applicant Regarding Consumer Reports     103
Disclosure to Employee Regarding Consumer Reports     104
Sample Notice of Intent to Obtain an Investigative Consumer Report     105
Fair Credit Reporting Act     106
Sample Disclosure of Nature and Scope of Investigative Consumer Report     109
Sample Pre-Adverse Action Notice     110
Sample Adverse Action Notice     111
Applicant     112
Current Employee     113
Tools of Fraud Deterrence     117
Internal Control and Fraud Deterrence: The COSO Integrated Framework     119
Background     119
Control Environment     122
Information and Communication     126
Risk Assessment     128
Control Procedures     131
Monitoring     137
Recent Corporate Governance Reforms Enacted to Deter Financial Fraud: The Sarbanes-Oxley Act of 2002 and Related Rules and Regulations     143
Introduction     143
Board of Directors     148
Audit Committee     149
Management     152
Internal Auditors     153
Enforcement     154
Protections for Directors and Officers     154
Conclusion     155
Generation-X Technologies and Information Assurance     161
Overview     161
Do We Need a Paradigm Shift in Systems Assurance and Auditing?     161
Generation X Enterprise Technologies: State of the Art     162
Information Systems Integration: A Challenge     163
Assured Information Emanates from Assured Systems     166
Information Assurance: A Function of Strategic Importance     166
Various Information Assurance and Control Measures     170
British Standards: BS7799 and BS 7799-2:2002     173
System Security Engineering Capability Maturity Model: SSE-CMM     174
Conclusion     174
The Impact of Communications Infrastructure on Fraud Detection and Deterrence     177
Introduction     177
Fraud and Technology     177
Communication Security Solutions     178
Correlation     187
Process and Information Validation     189
Interview and Interrogation Process      189
Difference between Interview and Interrogation     190
Preparation and Room Setting     190
Interviewer/Interrogator Demeanor     193
Detecting Deception     195
Conducting the Interview     199
Interrogation     208
Structured Approach to the Interview and Interrogation of a Suspect in a Fraud Investigation     212
Conclusion     215
Forensic Document and Handwriting Examination     216
What Is a "Document"?     216
Forgery     217
Red Flags of Document Examination     218
Caution     219
Red Flags of Handwriting Identification     220
Suggested Reading     221
Data Analysis and Monitoring: How Effective Data Analysis Can Identify Fraud Risk Indicators and Promote Business Intelligence     223
Introduction     223
Data Basics     225
Information Systems     237
Generating Business Intelligence     244
What to Look for in Data Analysis Technology     247
Putting It All Together     248
Reporting     249
Introduction     249
Function of Fraud Deterrence Reports     249
Reporting on Internal Control     251
Reporting in an Investigation     254
Importance of Documentation     258
Conclusion     259
Applications of Fraud Deterrence     261
Deterring Fraudulent Financial Reporting and Asset Misappropriation     263
Introduction     263
Organizational (Corporate) Culture     264
Organizational (Corporate) Governance     266
Internal Controls for Deterrence     268
Deterrence Monitoring     268
Fraud and the Bankruptcy Code     271
Introduction     271
Bankruptcy Refuge for Fraudulent Actors     272
Bankruptcy Fraud     285
Fraudulent Transfer Statutes     296
Intentionally Fraudulent Transfers     302
Constructively Fraudulent Transfers     303
Application of Fraudulent Transfer Laws     306
Remedies for the Recovery of Fraudulent Transfers     311
Corporate Actors/Individual Liability     313
Conclusion     317
Uniform Fraudulent Conveyance Act and Uniform Fraudulent Transfer Act     318
Uniform Fraudulent Conveyance Act     320
Uniform Fraudulent Transfer Act     322
18 U.S.C. [Section Section] 152-157     328
11 U.S.C. [Section] 548. Fraudulent Transfers and Obligations     330
11 U.S.C. [Section] 522 Exemptions     333
11 U.S.C. [Section] 101(31). Definitions     336
Discovering and Preventing Fraud in Business Formation and Dissolution     351
Introduction     351
Fundamental Assessments     351
Factors Affecting Whether the Fraud Will Succeed     353
Informational Rights and Fraud     353
Approval Rights and Governance     354
Additional Drafting Solutions     355
Minimizing the Occurrence of Fraud     355
Discovery of Fraud     356
Remedies     356
Identity Theft and Privacy Protection     359
Introduction     359
Definition     360
Development of an Epidemic     361
The Outbreak and Law Enforcement     366
Protecting Personal Information     369
Detect Unauthorized Use     373
Defend and Regain Your Identity     374
Bulk Data Breaches     375
The Online Frontier of Phishing and Spoofing     378
Impact on Fraud Deterrence     380
Intellectual Property      383
Introduction     383
How to Tell When Your Company Has Intellectual Property     387
Basic Reasons for Protecting     389
Routine Protection     390
Policing Intellectual Property Rights     394
Possible Recoveries through Litigation     396
Conclusion     397
Fraud Deterrence in the U.S. Private Equity Finance System     399
Introduction     399
U.S. Private Equity System and Its Governance Structure     399
Foundations of a Fraud Deterrence System in Private Equity     405
Adoption of Internal Control Systems within the U.S. Private Equity System     408
Conclusions and Recommendations     413
Glossary of Terms     415
Index     423
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