Financial Fraud Prevention and Detection

Step-by-step guidance for board members and executives on preventing and detecting accounting fraud

In the wake of highly publicized allegations of accounting irregularities and fraudulent financial reporting that are shaking up today’s corporate community, Financial Fraud Prevention and Detection provides a step-by-step guide to how these crises can envelop a company and how to prevent them from happening in the first place. It is written for almost everyone involved: outside directors, audit committee members, senior executives, CFOs, CPAs, in-house lawyers, and outside law firms.

• Provides a blueprint for Fraud Prevention and Detection for corporate executives
• Presents step-by-step guidance to corporate boards and C-suite executives on managing the threat of accounting fraud
• Prepares directors and executives for the possibility of accounting irregularities
• Answers the question of how accounting fraud starts—and grows

With solid strategies for prevention of accounting fraud as well as a process to follow when fraud has been discovered, Financial Fraud Prevention and Detection vividly explores the corporate environment that causes fraud, how it spreads, the kind of crises it can create for a company, and the best ways to deal with it.

Table of Contents

PART ONE Origin
CHAPTER ONE The Origin of Financial Fraud
CHAPTER TWO The Path to Corruption

PART TWO Prevention
CHAPTER THREE From Treadway to Sarbanes-Oxley
CHAPTER FOUR The Sarbanes-Oxley Act
CHAPTER FIVE The Audit Committee
CHAPTER SIX In the Crosshairs: The Chief Executive Officer

PART THREE Detection
CHAPTER SEVEN Detection and Its Aftermath
CHAPTER EIGHT Investigating Financial Fraud: Objectives and Approach
CHAPTER NINE Finding the False Numbers
CHAPTER TEN Getting a New Audit Report on the Financial Statements
CHAPTER ELEVEN The Securities and Exchange Commission
CHAPTER TWELVE Criminal Investigations
CHAPTER THIRTEEN Class Action Lawsuits

PART FOUR The Future
CHAPTER FOURTEEN The Future of Financial Reporting