Fraud 101 Techniques and Strategies for

Fraud 101, Third Edition will serve as an educational tool for business managers, accountants, auditors, and college students who need to learn about the nature of fraud across various industries. This book creates the awareness that any fraud that is detected usually comprises a relatively small percentage of the fraud universe, and that traditional methods of fraud detection are only minimally effective. Fraud 101, Third Edition provides guidance and new, real-world case studies on the major types of fraud. The Third Edition will be more comprehensive, covering healthcare fraud, Insurance/Banking Fraud, White Collar Crime, Identity Theft Fraud, as well as fraud specific internal controls and corporate governance guidance.

Stephen Pedneault, CPA, CFF, CFE, is the founder and Principal of Forensic Accounting Services LLC, a CPA firm located in Glastonbury, Connecticut, specializing in forensic accounting, employee fraud, and litigation support matters. Steve is also the author of the forthcoming Wiley title, Anatomy of a Fraud Investigation. He has written numerous articles appearing in local and national media and is a contributor to Fraud Casebook: Lessons from the Bad Side of Business (Wiley). For more information about Stephen Pedneault, go to www.forensicaccountingservices.com.

Preface
Acknowledgments
Introduction
The World of Fraud
Definition of Fraud
The Many Types of Fraud
Note
Why is Fraud Committed?
A Rationalizing Society
Financial Statement Fraud
Financial Fraud Comes In Different Shapes and Sizes
Motivators Differ by Type of Business
Employee Schemes
In the End
Financial Statement Fraud Schemes
Where Do Things Go Wrong?
Trend Analysis
Beyond Traditional Audits
Note
Employee Embezzlements
The Fraud Triangle
Areas for Concern
Notes
Other Fraud Schemes
Duplicate Payment Fraud
Multiple Payee Fraud
Shell Fraud
Defective Delivery Fraud
Defective Receipt Fraud
Defective Shipment Fraud
Defective Pricing Fraud
Contract Rigging Schemes
Stage One: Obtaining the Contract
Stage Two: Contract Change Orders
Unbalanced Bidding
Detection Recommendations
Rotation Fraud
Where Do We Go From Here?
Responses To Fraud
Government's Response to Fraud
Accounting Profession's Response to Fraud
Internal Audit Profession's Response to Fraud
New Credentials, More Training, Better Awareness
Articles, Books, and More Resources
Notes
The Importance of Internal Controls and Internal Audit
Why Have Internal Controls?
Déjà vu
Good Internal Controls
Internal Audit
Evidence
What Is Evidence?
Documentation
Note
Conducting Fraud Investigations: A Practical Approach
Proactive Fraud Investigations
Discovery Investigations
Supportive Investigations
Strategy
Predication
The Investigative Plan
Conducting the Procedures
Findings
Use of the Findings
Note
Fraud Investigation Alternatives
Assessing the Feasibility of a Full Investigation
Monitoring Operational Areas at Risk of Fraud
Revamping Internal Controls - Closing the Barn Door
Doing Nothing?
Vending
Lessons Learned
Living a Façade
Prevention Techniques
Disappearing Inventory
Internal Controls
Index
Table of Contents provided by Publisher. All Rights Reserved.

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Fraud 101 Techniques and Strategies for Understanding Fraud

Summary

Author Biography

Table of Contents

Supplemental Materials