Accountant's Guide to Fraud Detection and Control [Hardcover]

Howard R. Davia (Author), Patrick C. Coggins (Author), John C. Wideman (Author), Joseph T. Kastantin (Author)

Book Description

Publication Date: March 15, 2000 | ISBN-10: 0471353787 | ISBN-13: 978-0471353782 | Edition: 2

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.


www.wiley.com/account ing

Editorial Reviews

Review

"...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)

From the Inside Flap

Despite our centuries-long history with fraud as a serious threat to both private and public entities, fraud itself has continued to prosper while information and expertise on effective methods, resources, and training mechanisms for combating it have largely dissipated—until now.

Fraud statistics covering the past decade are inarguably staggering. A recent audit of the private firms that administer Medicare reveals that fraud costs the program an estimated $20 billion annually, and that of the 4,008 fraud cases initiated by contractors in 1996, only 5 percent were a result of proactive case development. The U.S. Chamber of Commerce estimates that the cost of employee and management fraud exceeds $100 billion annually. And of the 20 percent of all fraud that is revealed and prosecuted, most has been discovered by accident, and so offers little in terms of education. Clearly, traditional approaches have failed to curtail this all too pervasive problem and there is a growing need for a proactive approach that focuses on prevention. This comprehensive, one-of-a-kind guide will serve as an indispensable tool for business managers and owners, accountants, consultants, CFOs, controllers, and auditors who need to learn about auditing specifically for fraud.

Written by an accountant with over 30 years of proactive fraud-specific auditing experience, Fraud 101 is the only book that presents fresh new insights on the nature of fraud and contains in-depth descriptions of the different types of fraud along with proven methods of prevention. Here you will find:

• Step-by-step guidance on how to perform an effective audit
• Numerous real-world case studies, many of which are based on the author’s actual experience
• Discussions of the major types of fraud with an audit detection procedure for each

. . .and much more. Fraud 101 unveils the real world of fraud–and provides the tools to detect it. --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Hardcover: 368 pages
• Publisher: Wiley; 2 edition (March 15, 2000)
• Language: English
• ISBN-10: 0471353787
• ISBN-13: 978-0471353782
• Product Dimensions: 9.4 x 6.4 x 1.2 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #1,612,903 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

1 of 1 people found the following review helpful:

3.0 out of 5 stars Painfully detailed, July 27, 2008

By 

Craig Frooninckx (Phoenix, AZ) - See all my reviews
(VINE VOICE)   

Amazon Verified Purchase

This review is from: Fraud 101: Techniques and Strategies for Detection (Hardcover)

As typical of a textbook format, this book goes into detail of Fraud and actually repeats much of the information. It was interesting to see how Enron and Worldcom have affected the search for and detection of Fraud. For a class, this would make a great textbook, but for general reading, it was a bit difficult to get through the whole book.

1 of 1 people found the following review helpful:

4.0 out of 5 stars Amazingly exciting!!!!, October 7, 2006

By 

Ho Kheong Tan "Avid reader" (Singapore) - See all my reviews
(REAL NAME)   

This review is from: Fraud 101: Techniques and Strategies for Detection (Hardcover)

Whether you are a mystery reader or a professional auditor or a CEO/CFO, you will gain from reading this book.

Mr Howard Silverstone shared his experience magnanimously. He guided the reader patiently using easily followed step-by-step approach to carry out fraud investigation.

However, I find (and Mr Howard Silverstone kept repeating in the book) that the facts are over-simplified. I suspected this has been the case to enable non-expert to follow the book.

In essence, this is a book that allows all levels of readers to heighten their awareness on the presence of fraud penetrators and the need to enhance internal controls as a deterrent.

4 of 6 people found the following review helpful:

5.0 out of 5 stars Well-written new edition of fraud overview, February 9, 2006

By 

Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (REAL NAME)   

This review is from: Fraud 101: Techniques and Strategies for Detection (Hardcover)

Fraud is ever present, especially now. Authors Howard Silverstone and Howard R. Davia suggest that in recent years fraud has moved from the periphery of the corporate world to the center of it - from small, unprofitable, marginal companies to the biggest blue chips. The headlines about Enron, WorldCom and Global Crossing suggest that the authors are right. They do a commendable job of categorizing and explaining various kinds of fraud and the circumstances that make scams profitable. They offer enough anecdotes to fill a mystery novel writer's idea file for a year. Given that their book is also accessible, intelligible and, at times, even entertaining, we recommend protecting your company by reading it carefully. This may be your opportunity to avoid ever finding yourself at a board meeting trying to figure out "Who done it?"