Policies and Procedures to Prevent Fraud and Embezzlement: Guidance, Internal Controls, and Investigation

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John Wiley & Sons, Jul 18, 2006 - Business & Economics - 256 pages

It's not a secret that corporate fraud and scandal are real threats to business today, from which no business, large or small, is immune. Fraud losses are devastating-but they are also highly avoidable. Policies & Procedures to Prevent Fraud and Embezzlement shows you how to proactively safeguard your business's assets and reputation from countless plots, schemes, and even identity theft.

This invaluable tool prepares auditing CPAs, internal auditors, fraud investigators, and managers to:

  • Thoroughly evaluate their organization's system of internal controls
  • Assemble a fraud examination team
  • Document a fraud action plan
  • Expose weaknesses that could lead to fraud
  • Take corrective action to reduce the possibility of victimization

Embezzlement and fraud are realities that all organizations must confront, with the growing list of collapsed corporate giants serving as evidence of the destruction caused by financial abuses. Policies & Procedures to Prevent Fraud and Embezzlement offers provocative new strategies to deal with this ongoing dilemma and serves as a road map to reduce financial dishonesty in the workplace.


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Section 1 Embezzlement Who Does It and When
Section 2 Statement of Auditing Standard No 99 Consideration of Fraud in a Financial Statement Audit
Section 3 Essential Internal Control and Administrative Procedures to Avoid Embezzlement
Section 4 Clever Examples of Embezzlement
Section 5 Steps to Take If You Have Been Victimized by Fraud
Section 6 Identity Theft
Section 7 Internal Control Analysis Documentation and Recommendations for Improvement
Fraud Glossary

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About the author (2006)

EDWARD J. McMILLAN, CPA, CAE, is an experienced fraud examiner and teaches fraud prevention courses to organizations such as the American Institute of CPAs, the Maryland Association of CPAs, other state societies of CPAs, the U.S. Chamber of Commerce, and the American Bar Association, among others. He also speaks regularly on the subject of fraud prevention at business conventions of all types.

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