Financial Statement Fraud Defined

Front Cover
John Wiley & Sons, Mar 21, 2011 - Business & Economics - 355 pages
"Financial Statement Fraud: Prevention and Detection, Second Edition is a valuable reference guide for fraud examiners, audit committees, management, and regulators; and for one other important cog in this wheel: the investors who stand to lose everything."
—Joseph Wells, founder and Chairman, Association of Certified Fraud Examiners

Exceptionally well researched and fully revised, Financial Statement Fraud, Second Edition provides thorough coverage of the nature and extent of financial reporting fraud. Authors and accounting experts Zabihollah Rezaee and Richard Riley describe the most successful methods for preventing, detecting, and controlling incidents of financial reporting fraud and offer reliable guidance from standard-setting organizations such as the PCAOB, AICPA, and the SEC. Real-life case studies of companies guilty of such fraud—and a discussion of the consequences—help illustrate important concepts.

Thoroughly updated for today's marketplace, Financial Statement Fraud, Second Edition contains sample reports, examples, and documents that promote a realistic understanding of financial statement fraud and the investigation of fraudulent financial reporting allegations centered on the elements of fraud: the act, the concealment, and the conversion or benefit to the perpetrator.

Whether you are a manager, board of director, executive, or auditor, the Second Edition updates you on all the important issues regarding financial statement fraud, including:

  • Auditing standards issued by the PCAOB, technological advances, and globalization
  • SOX- and SEC-related implementation rules
  • The movement toward IFRS and IAAS and the use of the XBRL reporting platform
  • The trend toward reducing the complexity of the financial reporting process
  • Corporate governance reforms in the post-SOX era
  • Antifraud policies, practices, and education for all players in the financial reporting process

With practical tools and techniques for carrying out antifraud responsibilities, Financial Statement Fraud, Second Edition is the only resource you will need to identify early warning signs of financial misconduct and a reliable, practical guide to preventing it.


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About the author (2011)

Zabihollah Rezaee, PhD, CPA, CFE, CIA, CGFM, CMA, is the Thompson-Hill Chair of Excellence and Professor of Accountancy at the University of Memphis and served a two-year term on the Standing Advisory Group (SAG) of the Public Company Accounting Oversight Board (PCAOB). He has published over 175 articles in a variety of accounting and business journals and six books, including Corporate Governance and Ethics (Wiley).

Richard Riley, PhD, CPA, CFE, is a Louis F. Tanner Distinguished Professor of Public Accounting at West Virginia University. He was recognized as the 2008 ACFE Educator of the Year and by the American Accounting Association in 2009 for his innovations in accounting education. He is a forensic accountant and a Certified Fraud Examiner who has developed and implemented educational programs for the United States National Institute of Justice and the Internal Revenue Service. In addition to his distinguished academic career, he was employed as a senior accountant in the accounting firm of Deloitte & Touche.

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