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Accountant's Guide to Fraud Detection and Control, 2nd Edition

ISBN: 978-0-471-35378-2
384 pages
March 2000
Accountant
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 Accountant s 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. Who s to blame?

Accountants and internal auditors are often the scapegoats for management s 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 proactive fraud-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.


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FRAUD-SPECIFIC EXAMINATIONS AND INTERNAL CONTROL.

Audit Responsibility for Fraud Detection After Cohen and Treadway.

New Perspectives on Fraud.

Principles and Standards for Fraud-Specific Examinations.

Classifying Fraud for Improved Detection.

Internal Control and Fraud-Specific Internal Control.

Establishing and Operating an Effective Fraud-Specific Internal Control System: Seven Steps to Internal Control.

Computer Fraud 101.

Fraud Case Studies.

Fraud Case Studies--Solutions.

Custodial Fraud.

INVESTIGATING FRAUD.

Investigating Suspected Fraud.

Proactive and Reactive Investigations.

PROSECUTING FRAUD.

Rules of Evidence, Fraud Discovery, and Prosecution.

The Legal Cases in Fraud.

Ethical Conduct and Fraud Prevention.

Bibliography.

Index.
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Howard R. Davia, CPA, has over 30 years of experience in government, industry, and public accounting. He was president and cofounder of Executive Education Series, Inc., and has taught and lectured widely on the subject of fraud detection and control.

Patrick C. Coggins, PhD, is the Dupont Endowed Chair Professor at Stetson University and holds JD and PhD degrees in Administration and Adult Development and Education. He has over 28 years of experience in governmental and public sector financial management, legal issues, organizational diagnosis, and income taxes. He has published books, articles, and papers nationally and has extensive lecturing and consulting experience.

John C. Wideman, PhD, has over 28 years of experience in the civil, criminal, and military intelligence fields as an investigator at the federal and state levels, and as a private practitioner. He has taught investigative courses for the U.S. government and several state agencies, and is currently a practicing private investigator.

Joseph T. Kastantin, CPA, is a consultant, author, and assistant professor of accountancy at the University of Wisconsin--La Crosse. He is also a certified management accountant, and the author of Professional Accounting Practice Management and several articles on management, business control, and taxation.
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"...I opened this book with anticipation and it did not disappoint! I found the book well presented and easy to read. It certainly provides plenty of food for thought."(Accounting Technician, August 2000)
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