Fraud Risk Management (eBook)

A practical guide for accountants

Catherine Turner (Autor)

eBook Download: PDF

2007 | 1. Auflage
176 Seiten
Elsevier Science (Verlag)
9780080561202 (ISBN)

Infos

This book provides a user-friendly guide to current and emerging issues in fraud both internal to the company, and external. It explains the terminology used and sets out the chief risks which management accountants need to be aware of. It then sets out a practical framework for the management and mitigation of fraud risk. This is followed up by an explanation of what to do in the event of concerns that a fraud has been perpetrated, is underway or is being attempted. The book also guides the reader through the process of dealing with the law enforcement authorities in the event of an investigation. The book is for all those accountants who are not professionals in risk management or investigation procedures, but who need to be aware of the issues, many of which will impact on their area of responsibility, it therefore aims to give them a user-friendly manual to the issue of fraud risk. In addition the book will provide a valuable update on emerging trends in the fraud environment. The author is a financial services and regulatory consultant with extensive experience in fraud risk management. She is also Manager, Corporate Governance for an international life company, and an examiner and moderator who lectures and writes extensively on a wide range of compliance and financial services matters.

The book is in three sections:
Section 1: What is fraud? What are the emerging trends in fraud at present?
Section 2: what risks may you encounter in your business, and what fraud management systems should you have in place?
Section 3: post-event fraud management ? what to do when your concerns are aroused that a fraud has taken place or is being attempted?





* makes accountants aware of different types of fraud risk
* explains practical issues including post-fraud event management
* The author, a financial and regulatory consultant, offers her extensive experience in fraud risk management

Inhalt

Front Cover 1
Fraud Risk Management A Practical guide for accountants 2
Copyright Page 3
Table of Contents 4
Section 1: Fraud – Typologies and Trends 8
Chapter 1 Legal Definitions of, and the Law Relating to, Fraud 10
1.1 What is fraud? 12
1.2 The hallmarks of a fraud 14
1.3 Estimates of fraud volumes, and trends identified 15
1.4 The law relating to fraud 20
1.5 Case law 27
1.6 Overseas law and UK companies 30
1.7 Non-Statutory codes and guidance on fraud risk management 31
1.8 Conclusion 31
Chapter 2 Different Types of Fraud 32
2.1 General 34
2.2 General introduction to fraud typologies 34
2.3 Some examples of specific frauds 36
2.4 What types of fraud is your business most vulnerable to? 41
Chapter 3 Analytical Methods in Fraud Risk Management 44
3.1 Planning 46
3.2 Gathering information about the business 46
3.3 Fraud risk factors 48
3.4 Assessing the risks, taking account of internal controls 50
3.5 Involving the management team 51
3.6 Responding to identified fraud indicators/fraud risks 52
3.7 Fraud indicators 53
3.8 Statistical/technological tools in fraud risk analysis 55
3.9 Cultural issues in fraud risk management 55
Section 2: Risks, and the Systems to Counter Them 58
Chapter 4 Internal Frauds 60
4.1 Vulnerability to internal frauds 62
4.2 Some typical internal frauds 64
Chapter 5 External Frauds 72
5.1 Introduction 74
5.2 Supplier frauds 74
5.3 Customer frauds 75
5.4 Embezzlement 77
5.5 Investment fraud 77
5.6 Third party-against-customer fraud 79
5.7 If disaster strikes 80
Chapter 6 Information, Network and Internet Security – What the Non-IT Professional Needs to Know 82
6.1 Assessing the environment – questions your IT expert may ask 84
6.2 Securing the technology in a fraud investigation 85
6.3 Capturing the electronic evidence 87
6.4 Examining the images taken 88
6.5 What sorts of information may be recovered? – historic records 89
6.6 What sort of information may be recovered? – ongoing monitoring 90
Section 3: Post-event Fraud Management – What to Do When Your Concerns Are Aroused That a Fraud Has Taken Place or Is Being Attempted 92
Chapter 7 The Immediate Steps 94
7.1 Receipt of a fraud suspicion report 96
7.2 Common first steps 98
7.3 Securing the evidence 98
7.4 Assembling the investigation team 102
7.5 Overseeing external communications 104
7.6 Legal issues on an investigation 105
7.7 Preserving, tracing and recovering lost assets 106
Chapter 8 Investigation Techniques and Next Steps 108
8.1 Interviewing witnesses 110
8.2 How to carry on the interview 111
8.3 Separate representation 112
8.4 Considering employment issues 113
8.5 Post-investigation de-briefing 114
8.6 Securing the assets 115
8.7 Prevention of further fraud 116
8.8 Directors’ duties and solvency 116
8.9 Recovery of funds 118
Chapter 9 Dealing with External Parties: Regulators, Insurers and the Law Enforcement Authorities 122
9.1 General 124
9.2 Dealing with regulators 124
9.3 Dealing with the Police/other Law Enforcement Authorities 128
9.4 Dealing with the company’s bankers 129
9.5 Dealing with the company’s insurers 130
9.6 Dealing with the stock market (listed companies) 130
Chapter 10 The Aftermath of a Fraud: Reputational Issues 132
10.1 General 134
10.2 Internal communications 135
10.3 Questions to consider in the event of a fraud risk crisis 136
10.4 Public relations 138
Chapter 11 Some Aspects of The Law re Evidence, Privilege and Fraud Investigation 140
11.1 Legal issues on an investigation 142
11.2 The concept of privilege 142
11.3 Privilege and investigation reports 143
11.4 Maintaining privilege 144
11.5 Case law: Director of the Serious Fraud Office ex parte Smith 146
11.6 Fraud investigations and the requirement to disclose 149
11.7 What types of document should you be most concerned about? 154
11.8 Document management to preserve privilege 159
11.9 Document retention 160
11.10 Law regathering evidence 162
Index 166

Produkt-Details

• Erscheint lt. Verlag: 19.12.2007
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen
• ISBN-13: 9780080561202 / 9780080561202