This book is broken into four easy to read sections to educate anyone responsible for the prevention, detection and investigation of fraud. The author’s unique background of being a retired FBI agent, attorney, CPA, and fraud expert is readily apparent. He authoritiavely lays out the content. Due to his experiences in the investigation of Enron, WorldCom, and many other real-life cases, he uses these examples to show how the content applies in real life.
The opening section provides fraud concepts and definitions for the various professions dealing with fraud. In the second section, the author covers the entire “fraud threat picture” including occupational fraud (misappropriation of assets, corruption, and financial statement fraud), fraud in small organizations, nonoccupational fraud, cyber fraud, money laundering, and tax fraud. The author covers the topic of conflicts of interest and corruption in significant detail.
The third section deals with the fraud life cycle: prevention, detection, investigation, mitigation, and remediation. The fraud life cycle enables the reader to appreciate the ecology of fraud. Through this integrated approach to understanding of fraud, the reader is better equipped to deal with any aspect of fraud in an organization.
The last section focuses on the professionals who are responsible for dealing with fraud including attorneys, CPAs, investigators, and forensic accountants. The content includes various standards and legal requirements that professionals must adhere to when investigating and litigating fraud, and it has particular relevance for forensic accountants.