Fraud Examination: Investigative and Audit Procedures

(Hardback)

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Description

According to most authorities, fraud in business and government is at an all-time high. The responsibilities of the auditor and accountant to detect and deter fraud and white-collar crime are increasing, and yet they catch few frauds before devastating losses occur. In the view of Joseph T. Wells, this is because accountants and auditors wrongfully assume fraud can be detected and prevented through traditional audit techniques. Instead, the author suggests that auditors, accountants and loss prevention professionals must find a new approach. Fraud examination is defined as the skills necessary to resolve allegations of fraud from inception to disposition; to obtain evidence, take statements and write reports; to testify to findings; and to assist in the detection and prevention of fraud. Fraud examination consists of specialized knowledge from four fields: accounting and auditing, investigation, law and criminology. The book begins with a section on criminology, which explains the various theories of why some persons commit crimes and others do not. A special emphasis is given to the theories of the white-collar offender. The next section. law, gives the reader a broad knowledge of the courts, how they operate and the various procedures for proving fraud matters. It also details the various criminal and civil statutes by which fraud offenders are punished. The third section, auditing, provides the reader with specific techniques to examine books and records for fraudulent activity. Net worth analysis, a methodology for proving ill-gotten gains, is explored in detail. The final section, investigation, provides techniques on how best to obtain information through interview methods. It also covers confidential sources of information, as well as writing reports in fraud-related cases. This book is specifically designed for the person who not only wants to know about fraud, but what to do with it in the event it is suspected.

Reviews

The author's explanations of investigation principles and his views on assuming the kind of mindset needed to conduct a fraud examination provide valuable guidance and information.-Internal Auditor
This book is very timely for management accountants who should become more proactive in investigating the appearance of fraud. This book is an excellent source for IMA members to use who are interested in becoming Certified Fraud Examiners.-Management Accounting
"The author's explanations of investigation principles and his views on assuming the kind of mindset needed to conduct a fraud examination provide valuable guidance and information."-Internal Auditor
"This book is very timely for management accountants who should become more proactive in investigating the appearance of fraud. This book is an excellent source for IMA members to use who are interested in becoming Certified Fraud Examiners."-Management Accounting

Author Bio

JOSEPH T. WELLS, CFE, CPA, is Chairman of the Board of the National Association of Certified Fraud Examiners in Austin, Texas.