Preventing and Detecting Employee Theft and Embezzlement: A Practical Guide / Edition 1

Hardcover (Print)
Buy New
Buy New from BN.com
$42.97
Used and New from Other Sellers
Used and New from Other Sellers
from $32.95
Usually ships in 1-2 business days
(Save 43%)
Other sellers (Hardcover)
  • All (11) from $32.95   
  • New (8) from $32.95   
  • Used (3) from $42.96   

Overview

"If you don't think that some employees have figured out ingenious ways to steal from businesses, read this book. The real-life examples will change your mind." —Joseph T. Wells, CFE, CPA, founder and Chairman, Association of Certified Fraud Examiners

"An easy-to-read, but comprehensive step-by-step approach that covers every potential area for employee fraud and embezzlement. Great checklists at the end of each chapter show what steps to put into place for controls and protection. Includes real-life examples that really 'bring the story home.' " —Jean L. Conover, CPA, past CEO/CFO, Jefferson Radiology PC

"This book is a must-read for seasoned entrepreneurs as well as those considering entering their own business venture. While developed for small business, the risk detection and prevention methodologies presented by Mr. Pedneault are universal to all businesses. The concise checklists provide ready guidance for establishing a complete system of controls."—Denise H. Armstrong, CPA, Chief Financial Officer, Sea Research Foundation, Inc. d/b/a Mystic Aquarium and Institute for Exploration

"This book is a must for every individual owning their own business. Mr. Pedneault clearly articulates the fraud risks that occur in each business system. In the book, he offers practical advice for internal controls and illustrates the risks with real-life examples."—Leonard W. Vona, President, Fraud Auditing, Inc.

Read More Show Less

Product Details

  • ISBN-13: 9780470545713
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 6/28/2010
  • Series: Wiley Professional Advisory Services Series , #5
  • Edition number: 1
  • Pages: 310
  • Product dimensions: 6.10 (w) x 9.10 (h) x 1.20 (d)

Meet the Author

STEPHEN PEDNEAULT, CPA/CFF, CFE, is the founder and Principal of Forensic Accounting Services, LLC, a CPA firm specializing in forensic accounting, employee fraud, and litigation support matters. Steve is the author of Fraud 101: Techniques and Strategies for Understanding Fraud and Anatomy of a Fraud Investigation, and a contributor to Fraud Casebook: Lessons from the Bad Side of Business, all published by Wiley. Steve has also written numerous articles appearing in local and national media, and is a frequent speaker on the subjects of employee embezzlement and forensic accounting. For more information about Stephen Pedneault, go to www.forensicaccountingservices.com.

Read More Show Less

Table of Contents

Preface.

Acknowledgments.

Introduction.

CHAPTER 1 Hiring the Right Employees.

Disclaimer.

Where Do You Start?

Advice of Counsel.

Application Policy.

Due Diligence.

Personal Information.

Past Employment.

Education.

References.

Criminal and Civil History Checks.

Credit Checks.

Hiring Time.

Hiring the Right Employees: Considerations.

CHAPTER 2 Know Your Employees.

Why Is Knowing Your Employees Important?

Open Communications.

What Should You Watch for in Your Employees?

Know Your Employees: Considerations.

CHAPTER 3 Sales, Cash Receipts, and Collections.

Here’s Where Everything Starts.

Recording and Tracking Sales.

Collections.

Debit Memos and Other Adjustments.

Accounts Receivable.

Sales, Cash Receipts, and Collections: Considerations.

CHAPTER 4 Credit Card Sales, Transactions, and Merchant Statements.

Processing Sales.

Reconciling Sales.

Processing Refunds or Credits.

Reviewing and Reconciling Refunds or Credits.

Reviewing and Reconciling the Merchant Statement.

Credit Card Sales, Transactions, and Merchant Statements: Considerations.

CHAPTER 5 Purchases, Cash Disbursements, Checks, and Petty Cash.

Purchases.

Cash Disbursements/Checks.

Unpaid Bills/Accounts Payable.

Petty Cash.

Purchases, Cash Disbursements, Checks, and Petty Cash: Considerations.

CHAPTER 6 Credit Cards and Debit Cards.

Credit Cards.

Debit Cards.

Credit Cards and Debit Cards: Considerations.

CHAPTER 7 Employee Expense Reimbursement.

Expense Submission.

Where Are the Abuses?

Payment Processing.

Employee Expense Reimbursement: Considerations.

CHAPTER 8 Electronic Banking.

Traditional Banking (In-Person Deposits and Manual Check Writing).

Check Processing and Clearing Changes.

Changes in Bank Deposits.

ATMs.

Online Banking.

What Can You Do?

Electronic Banking: Considerations.

CHAPTER 9 Payroll Processing.

Payroll Administration: Adding/Changing/Terminating.

Payroll Processing.

Payroll Tax Returns.

Payroll Processing: Considerations.

CHAPTER 10 Inventory Issues and Controls.

Prevention: Good News and Bad News.

Retail Businesses: Items Available for Sale.

All Businesses: Items for Use by Employees (Supplies, Tools, and Equipment).

Detection.

Inventory Issues and Controls: Considerations.

CHAPTER 11 Bank Statements, Canceled Checks, and Reconciliations.

Bank Statements.

Investment Account Statements.

Canceled Checks.

Bank Reconciliations.

Bank Statements, Canceled Checks, and Reconciliations: Considerations.

CHAPTER 12 Financial Reports.

Generate Financial Reports Regularly.

Why Is the Regular Review of Financial Reports So Important?

When to Consider Outside Advice and Assistance.

Financial Reports: Considerations.

CHAPTER 13 Safeguarding Your Bookkeeping or Accounting Systems.

Manual Bookkeeping Systems.

Computerized Bookkeeping and Accounting Systems.

QuickBooks Users.

Safeguarding Your Bookkeeping or Accounting Systems: Considerations.

CHAPTER 14 Prevention, Detection, and Insurance.

Timing Is Everything.

Adequacy of Coverage.

Responsibilities for a Claim.

Disclaimer.

Prevention, Detection, and Insurance: Considerations.

CHAPTER 15 Your Response to an Identified or Potential Issue.

A Dreaded Day of Discovery.

Due Diligence on the Discovery.

What If It Appears to Be Fraud?

Your Response to an Identified or Potential Issue: Considerations.

Appendix A: Embezzlement Controls for Business Enterprises.

Appendix B: Who Was Lester Amos Pratt?

About the Author.

Index.

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)