Corporate Fraud Handbook: Prevention and Detection

Delve into the mind of a fraudster to beat them at their own game Corporate Fraud Handbook details the many forms of fraud to help you identify red flags and prevent fraud before it occurs. Written by the founder and chairman of the Association of Certified Fraud Examiners (ACFE), this book provides indispensable guidance for auditors, examiners, managers, and criminal investigators: from asset misappropriation, to corruption, to financial statement fraud, the most common schemes are dissected to show you where to look and what to look for. This new fifth edition includes the all-new statistics from the ACFE 2016 Report to the Nations on Occupational Fraud and Abuse, providing a current look at the impact of and trends in fraud. Real-world case studies submitted to the ACFE by actual fraud examiners show how different scenarios play out in practice, to help you build an effective anti-fraud program within your own organization. This systematic examination into the mind of a fraudster is backed by practical guidance for before, during, and after fraud has been committed; you'll learn how to stop various schemes in their tracks, where to find evidence, and how to quantify financial losses after the fact. Fraud continues to be a serious problem for businesses and government agencies, and can manifest in myriad ways. This book walks you through detection, prevention, and aftermath to help you shore up your defenses and effectively manage fraud risk. Understand the most common fraud schemes and identify red flags Learn from illustrative case studies submitted by anti-fraud professionals Ensure compliance with Sarbanes-Oxley and other regulations Develop and implement effective anti-fraud measures at multiple levels Fraud can be committed by anyone at any level—employees, managers, owners, and executives—and no organization is immune. Anti-fraud regulations are continually evolving, but the magnitude of fraud's impact has yet to be fully realized. Corporate Fraud Handbook provides exceptional coverage of schemes and effective defense to help you keep your organization secure.

Table of Contents:
Preface About the ACFE Chapter 1: Introduction Defining “Occupational Fraud and Abuse” Research in Occupational Fraud and Abuse 2016 Report to the Nation on Occupational Fraud and Abuse PART I: ASSET MISAPPROPRIATIONS Chapter 2: Introduction to Asset Misappropriations Overview Definition of “Assets” How Asset Misappropriations Affect Books of Account CHAPTER 3: Skimming Skimming Data from the ACFE 2015 Global Fraud Survey Unrecorded Sales Understated Sales and Receivables Theft of Checks Through The Mail Short-Term Skimming Converting Stolen Checks Concealing The Fraud Detection Prevention Chapter 4: Cash Larceny Overview Cash Larceny Data from the ACFE 2015 Global Fraud Survey Incoming Cash Cash Larceny from the Deposit Miscellaneous Larceny Schemes Detection Prevention Chapter 5: Check Tampering Overview Check Tampering Data from the ACFE 2015 Global Fraud Survey Forged Maker Schemes Intercepted Checks Forged Endorsement Schemes Altered Payee Schemes Concealed Check Schemes Authorized Maker Schemes Concealment Detection Check Tampering Red Flags Prevention Electronic Payment Tampering Chapter 6: Register Disbursement Schemes Overview Register Disbursement Data from the ACFE 2015 Global Fraud Survey False Refunds False Voids Concealing Register Disbursements Detection Prevention Chapter 7: Billing Schemes Overview Billing Scheme Data from the ACFE 2015 Global Fraud Survey Shell Company Schemes Non-Accomplice Vendor Schemes Personal Purchases with Company Funds Detection Prevention Chapter 8: Payroll and Expense Reimbursement Schemes Overview Payroll Scheme Data from the ACFE 2015 Global Fraud Survey Payroll Schemes Detection of Payroll Schemes Prevention of Payroll Schemes Expense Reimbursement Data from The ACFE 2015 Global Fraud Survey Expense Reimbursement Schemes Detection of Expense Reimbursement Schemes Prevention of Expense Reimbursement Schemes Chapter 9: Inventory and Other Noncash Assets Overview: Noncash Misappropriation Data from the ACFE 2015 Global Fraud Survey Misuse of Inventory and Other Assets Theft of Inventory and Other Assets Concealment Detection Prevention Misappropriation of Intangible Assets PART II: CORRUPTION Chapter 10: Bribery Overview Corruption Data from the ACFE 2015 Global Fraud Survey Bribery Schemes Something of Value Economic Extortion Illegal Gratuities Detection Prevention Anti-Corruption Legislation Chapter 11: Conflicts of Interest Overview Purchasing Schemes Sales Schemes Other Schemes Detection Prevention PART III: FINANCIAL STATEMENT FRAUD Chapter 12: Accounting Principles and Fraud Introduction Fraud in Financial Statements Major Generally Accepted Accounting Principles Responsibility for Financial Statements Users of Financial Statements Types of Financial Statements Sarbanes-Oxley Act Financial Statement Fraud Data from the ACFE 2015 Global Fraud Survey Chapter 13: Financial Statement Fraud Schemes Overview Defining Financial Statement Fraud Costs of Financial Statement Fraud Methods of Financial Statement Fraud Detection of Financial Statement Fraud Schemes Deterrence of Financial Statement Fraud Chapter 14: Occupational Fraud and Abuse: The Big Picture Defining “Abusive Conduct” Measuring the Level of Occupational Fraud and Abuse Understanding Fraud Deterrence Corporate Sentencing Guidelines Ethical Connection Concluding Thoughts Appendix: Sample Code of Business Ethics and Conduct Bibliography Index

About the Author :
Dr. Joseph T. Wells is the founder and chairman of the Association of Certified Fraud Examiners (ACFE). He was a regular columnist for the Journal of Accountancy and is a past recipient of the Innovation in Accounting Education Award presented by the American Accounting Association (AAA).