Pub. Date:
Cengage Learning
Fraud Examination / Edition 1

Fraud Examination / Edition 1


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Product Details

ISBN-13: 9780324162967
Publisher: Cengage Learning
Publication date: 07/30/2002
Edition description: Older Edition
Pages: 592
Product dimensions: 7.42(w) x 9.40(h) x 0.99(d)

About the Author

W. Steve Albrecht was the Andersen Distinguished Professor of Accountancy in the Marriott School of Management at Brigham Young University. He received a bachelor's degree in accounting from BYU and M.B.A. and Ph.D. degrees from the University of Wisconsin. He is a Certified Public Accountant (CPA), Certified Internal Auditor (CIA), and Certified Fraud Examiner (CFE). He previously taught at both Stanford and the University of Illinois. Dr. Albrecht currently serves on five corporate boards of directors and has been an expert witness in 38 major fraud cases.

Dr. Chad O. Albrecht, associate professor and M.B.A. director at Utah State University, received his Ph.D. from ESADE Business School in Barcelona, Spain, and currently teaches forensic accounting, strategy and ethics. His research focuses on international fraud and corruption from a humanistic perspective. His research articles have appeared in numerous journals and have been quoted in multiple news outlets. Previous to his doctoral studies, Dr. Albrecht worked as a licensed stockbroker for the Bank of Montreal.

Dr. Conan C. Albrecht, professor of Information Systems at Brigham Young University, teaches enterprise development, middleware, business programming and technology security. Dr. Albrecht researches computer-based fraud detection techniques, e-commerce platforms and online group dynamics. He has published several articles on fraud detection and information theory in numerous academic and professional outlets. The core of this research is detectlets, which encode background and detection information for specific fraud schemes. He hopes the system will eventually serve as the foundation of a large, online repository of detectlets about all types of fraud in the next few years.

Dr. Mark F. Zimbelman is Mary and Ellis Professor at Brigham Young University (BYU). He teaches classes on auditing and fraud examination and focuses his research exclusively on fraud. His research has been published in numerous academic journals and he has worked with the American Institute of Certified Public Accountants and the Institute of Internal Auditors in writing various publications on fraud. Dr. Zimbelman received his CPA license and worked for more than six years as a financial statement auditor and, later, as a controller in industry. After obtaining his Ph.D., he worked with KPMG in their fraud and forensics practice. This opportunity provided hands-on experience investigating violations of the Foreign Corrupt Practices Act, financial statement fraud, vendor fraud and embezzlement.

Table of Contents

Part 1Introduction to Fraud
Chapter 1The Nature of Fraud3
Seriousness of the Fraud Problem4
What Is Fraud?6
Types of Fraud7
Criminal and Civil Prosecution of Fraud11
Fraud-Related Careers13
Chapter 2Who Commits Fraud and Why25
Who Commits Fraud26
Why People Commit Fraud27
The First Element: Pressure30
The Second Element: Opportunity34
The Third Element: Rationalization46
Chapter 3Fighting Fraud: An Overview65
Fraud Prevention66
Fraud Detection68
Fraud Investigation70
Legal Action73
Part 2Fraud Prevention
Chapter 4Preventing Fraud85
Not Everyone Is Honest86
Preventing Fraud--A Summary96
A Comprehensive Approach to Fighting Fraud97
Organizations and Fraud--The Current Model98
Part 3Fraud Detection
Chapter 5Recognizing the Symptoms of Fraud111
Symptoms of Fraud112
Accounting Anomalies114
Internal Control Weaknesses119
Analytical Anomalies121
Extravagant Lifestyles125
Unusual Behaviors126
Tips and Complaints128
Chapter 6Proactive Approaches to Detecting Fraud143
Proactive Fraud Detection144
Deductive Method Number 1: Commercial Data-Mining Software144
Deductive Method Number 2: Digital Analysis of Company Databases145
An Inductive Fraud Detection149
Which Transaction-Based Approach Is Best?154
Analyzing Financial Statements Reports That Result from Transactions to Detect Fraud154
Detecting or Identifying Fraud Perpetrators162
Part 4Fraud Investigation
Chapter 7Investigating Theft and Concealment179
Theft Investigation Methods181
Concealment Investigation Methods188
Chapter 8Conversion Investigation Methods211
Federal Sources of Information213
State Sources of Information214
County and Local Records216
Private Sources of Information217
Financial Institution Records218
Publicly Available Databases218
Online Sources of Information219
The Net Worth Method221
Chapter 9Inquiry Methods and Fraud Reports237
Honesty Testing237
Interviewing--An Overview238
Introductory Questions249
Informational Questions253
Assessment Questions262
Closing Questions268
Admission-Seeking Questions269
Signed Statements283
The Fraud Report285
Appendix ASample Signed Statement295
Appendix BAn Example Fraud Report297
Part 5Management Fraud
Chapter 10Financial Statement Fraud335
The Growing Problem of Financial Statement Fraud335
A Framework for Detecting Financial Statement Fraud340
Chapter 11Revenue and Inventory Frauds359
Revenue Fraud360
Inventory and Cost of Goods Sold Frauds370
Chapter 12Liability, Asset, and Inadequate Disclosure Frauds387
Liability Fraud388
Asset Fraud399
Inadequate Disclosure412
Part 6Other Types of Fraud
Chapter 13Fraud Against Organizations429
Fraud Statistics430
Asset Misappropriations431
Chapter 14Bankruptcy and Divorce Fraud445
The Bankruptcy Code447
Participants in the Bankruptcy Process450
Participants in Divorce Cases452
Fraud Investigator's Relationship to Participants in Bankruptcy Proceedings452
The Planned Bankruptcy Fraud453
Fraudulent Concealment of Assets or Income in Bankruptcies or Divorces455
Fraudulent Transfers456
Civil Liability for False Accusations457
Appendix AAffidavit of Proposed Investigator465
Appendix BApplication for Retention of Investigator467
Chapter 15Fraud in E-Commerce469
Fraud Risk in E-Commerce470
Preventing Fraud in E-Commerce470
Detecting E-Business Fraud475
Part 7Resolution of Fraud
Chapter 16Legal Follow-Up483
The Court System484
The Civil Litigation Process486
The Criminal Litigation Process489
Being an Expert Witness493
AppendixFinancial Statement Fraud Standards503

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