Fraud 101: Techniques and Strategies for Understanding Fraud

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John Wiley & Sons, Mar 10, 2010 - Business & Economics - 234 pages

A straightforward guide explaining the nature of financial fraud

Fraud continues to be one of the fastest growing and most costly crimes in the United States and around the world. The more an organization can learn about fraud in general and the potential fraud risks that threaten the financial stability of the organization's cash flow, the better that organization will be equipped to design and implement measures to prevent schemes from occurring in the first place.

Fraud 101, Third Edition serves as an enlightening tool for you, whether you are a business owner or manager, an accountant, auditor or college student who needs to learn about the nature of fraud. In this invaluable guide, you will discover and better understand the inner workings of numerous financial schemes and internal controls to increase your awareness and possibly prevent fraud from destroying your organization's financial stability.

It offers guidance, understanding, and new, real-world case studies on the major types of fraud, including

  • An understanding of why fraud is committed
  • An overview of financial fraud schemes
  • White-collar crime
  • Uncovering employee embezzlements
  • Establishing internal fraud controls
  • The nature of collecting evidence

With case studies included throughout the book to gain insight to the real world of fraud, Fraud 101, Third Edition describes the features of fraud and then provides proven methods of prevention, as well as solutions to expose different types of fraud.

 

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Contents

The World of Fraud
1
Why Is Fraud Committed?
19
Financial Statement Fraud Schemes
33
Employee Embezzlements
51
Other Fraud Schemes
69
Contract Rigging Schemes
97
Responses to Fraud
123
Contents
143
Evidence
159
Strategy
178
Findings
186
APPENDIX A Vending
209
APPENDIX B Living a Facade
217
Disappearing Inventory
225
Index
231
Copyright

Good Internal Controls
150

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About the author (2010)

Stephen Pedneault, CPA, CFF, CFE, is the founder and Principal of Forensic Accounting Services LLC, a CPA firm located in Glastonbury, Connecticut, specializing in forensic accounting, employee fraud, and litigation support matters. Steve is also the author of the forthcoming Wiley title, Anatomy of a Fraud Investigation. He has written numerous articles appearing in local and national media and is a contributor to Fraud Casebook: Lessons from the Bad Side of Business (Wiley). For more information about Stephen Pedneault, go to www.forensicaccountingservices.com.

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