Fraud Prevention and Detection: Warning Signs and the Red Flag System

ISBN-13: 9781466554542 / Angielski / Twarda / 2014 / 316 str.

Rodney T. Stamler; Hans J. Marschdorf; Mario Possamai

Opis

Lessons can be learned from major fraud cases. Whether the victim is a company, public agency, nonprofit, foundation, or charity, there is a high likelihood that many of these frauds could have been prevented or detected sooner if early Red Flag warning signs had been identified and acted upon. Fraud Prevention and Detection: Warning Signs and the Red Flag System will enable officers and directors, internal and external stakeholders, as well as outside analysts to protect themselves and their organizations against fraud by effectively detecting, analyzing, and acting on early Red Flag warning signs. Based on an empirically tested strategy, the Red Flag System reflects the authors more than 100 years combined experience in the investigation of fraud in high-profile, global cases in North America, Africa, Europe, and the Far East.
Readers of this book will:

• Acquire a general awareness of the nature, characteristics, and dynamics of fraud
• Understand the process for determining whether a fraud has been committed
• Develop an understanding of enterprise risk management approaches for fraud risk management, compliance risk management, and managing the risk of fraudulent financial reporting including an understanding of the limitations inherent in these approaches
• Learn how to find Red Flag indicators of fraud or suspicious transactions in financial statements, budgets, and contracts
• Know how to ensure that, once a Red Flag has been identified, appropriate action is taken

Fraud can lead to significant financial loss as well as bad press and publicity with significant reputational impact for officers, directors, corporations, and their stakeholders. This book s no-nonsense approach empowers those charged with protecting organizations to stop these frauds before the organization s livelihood is jeopardized or to mitigate damage when fraud has occurred."

Recenzje

"Fraud mitigation, timely detection, and thorough investigation are crucial elements for asset and brand protection. This book seeks to provide a foundation to recognize fraud during its incipient stages and identify actions to stop it. The authors have collectively leveraged their extensive international investigative experience into an exceptional resource…Any corporate leader or investigator should strongly consider adding this book to their library."
—ASIS Dynamics, March/April 2015

Spis treści

An Introduction to the Red Flag System. Fraud 101: A Primer. The Dynamics and Root Causes of Fraud. The Red Flag System. Financial Statement Fraud. Red Flags for Financial Statement Fraud. Procurement Fraud. Procurement Fraud Methods and Red Flags. Bribery and Corruption. Fraud and Money Laundering. High-Risk Corporate Activities and Market Manipulation. Pyramid Schemes. Fraud and the Absence of Good Governance. The Board of Directors and Its Responsibility to Safeguard the Organization. Enterprise Risk Management, Fraud Risk Management, and Compliance Risk Management. The Board of Directors—First Line of Defense against Fraud and Corruption. Screening, Scrutinizing, and Investigating Red Flags. Appendix A: Summary of Red Flags. Appendix B: Glossary. Index.