Book Reviews: New Wiley Titles on Fraud

Case Studies, Strategies for Detecting Fraud, and a Framework for Prevention

Corporate governance legislation has become increasingly concerned with the ongoing resilience of organizations, and, particularly, with their ability to resist corporate fraud from the lowest levels to the upper echelons of corporate management. These titles offer both case studies on recent fraud cases as well as guidance for strategies on fraud detection and prevention.

Faces of Fraud: Cases and Lessons from a Life Fighting Fraudsters

Martin T. Biegelman
(ISBN 978-1-118-00274-2)

Summary: Fraud is an evil with a life of its own that leaves a financial, reputational, and emotional toll on its victims. While monumental scandals, such as Enron, WorldCom, and Madoff’s Ponzi scheme make the front pages, fraud is a daily occurrence impacting companies and individuals alike. 

Faces of Fraud reveals must-know characteristics of fraudsters and the skills needed to outwit them. Recognized fraud-fighting expert Martin Biegelman draws from his 40 years of experience fighting fraud to profile not only the key traits fraudsters share, but also the qualities fraud examiners must possess to be successful. Although fraud will never be completely eradicated, there is much that can be done to reduce the number and size of frauds that take place in any organization. 

Boiling down the key lessons the author has culled from his long career, Faces of Fraud entertains and informs with stories from real cases the author investigated over his long career and imparts useful tips you can start using right away in the fraud examination field.

 

Detecting Fraud in Organizations: Techniques, Tools, and Resources

Joseph Petrucelli
(ISBN 978-1-118-10314-2) 

Summary: An essential reference for all business professionals, Detecting Fraud in Organizations: Techniques, Tools, and Resources explains the process of how people commit fraud, as well as how to prevent and stop fraud from occurring in your organization. Organized by business processes which succinctly describe how fraud manifests itself on a daily basis, the authors explain ways in which everyone can help guard against fraud by familiarizing themselves with its building blocks and methods used to perpetrate and conceal it.

 

Financial Statement Fraud: Strategies for Detection and Investigation

Gerald M. Zack
(ISBN 978-1-118-30155-5)

Summary: Financial statement fraud is one of the most costly types of fraud and can have a direct financial impact on businesses and individuals, as well as harm investor confidence in the markets. While publications exist on financial statement fraud and roles and responsibilities within companies, there is a need for a practical guide on the different schemes that are used and detection guidance for these schemes. 

Financial Statement Fraud: Strategies for Detection and Investigation fills that need. Straightforward and insightful, Financial Statement Fraud provides comprehensive coverage on the different ways financial statement fraud is perpetrated, including those that capitalize on the most recent accounting standards developments, such as fair value issues.

 

Corporate Fraud and Internal Control: A Framework for Prevention

Richard E. Cascarino
(ISBN 978-1-118-30156-2)

Summary: Corporate governance legislation has become increasingly concerned with the ongoing resilience of organizations and, particularly, with their ability to resist corporate fraud from the lowest levels to the upper echelons of executive management. It has become unacceptable for those responsible for corporate governance to claim, “I didn’t know.” 

Corporate Fraud and Internal Control focuses on the appropriateness of the design of the system of internal controls in fraud risk mitigation, as well as the mechanisms to ensure effective implementation and monitoring on an ongoing basis. Written by a fraud prevention leader, Corporate Fraud and Internal Control addresses the concerns of both management and audit in ensuring a demonstrable level of activity to ensure sustainability of the organization and minimization of the impacts of fraud, upon early detection.

Andrew Wheeler marketing manager at Wiley, compiled these reviews.  Reach him as awheeler@Wiley.com.