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 dissipateduntil 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 authors 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 fraudand provides the tools to detect it.
From the Back Cover
YOUR MUST-READ GUIDE TO TECHNIQUES AND STRATEGIES FOR FRAUD DETECTION AND PREVENTION
Written by an accountant with over 30 years of proactive fraud-specific auditing experience, this one-of-a-kind, how-to guide provides rare expertise and hard-to-find information on this increasingly staggering and costly problem.
As businesses lose over $100 billion a year to fraud with only 20 percent being discovered, the need to be more proactive in detecting fraud is increasingly obvious. Here is the only book available that describes the different types of fraud and then provides proven methods of detection.
- Breaks fraud into three categories, revealing that the fraud that is usually detected comprises a relatively small percentage of the fraud universe
- Provides new insights into the nature of fraud and the mind-set needed to combat it
- Provides proven solutions to how to expose different types of fraud
- Includes numerous case studies, most based on the authors actual experience, that reveal the real world of fraud, how easy it can be to perpetrate, and how difficult to prosecute
Gain the expertiseand the attitudenecessary to step up fraud prevention in both public and private entities, with this comprehensive, clear-headed, and invaluable resource.