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Fraud Prevention and Detection

Internal Control Guidebook Part II – Why, What and How

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Language:  English
Many of the corporate scandals could have been prevented through effective internal controls.
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Part I provides guidance the reader needs to assume a role in the design, implementation, evaluation and maintenance of a sound internal control structure. Part II explains why fraud occurs and how recognize and respond to it. It provides credible guidance from leading professional organizations to help the reader develop effective anti-fraud strategies. It contains case studies that demonstrate real life problems, checklists that evaluate the strength of fraud prevention and detection system, as well as a sample code of ethics, a fraud policy template, and an outline of fraud response plan.

About the author

Christina Liu, CPA, MSA, has extensive experiences in auditing and accounting fields with different industries including public accounting, state governments, nonprofit organizations, and telecommunication. She earned MSA and BS degrees from American University in Washington, D.C. She gained her public accounting experience with KPMG and held internal auditor positions with several government agencies and private companies. She has authored numerous continuing professional education courses for certified public accountants (CPA).

  • Part II
  • What Will This Book Do for You?
  • How to Navigate This Book?
  1. Why Do People Commit Fraud? How To Recognize Misconduct?
    1. Causes and Symptoms
    2. Common Fraudulent Activities
    3. Emerging Trends in Fraud
    4. Self-Test
  2. What Constitutes an Effective Fraud Risk Management?
    1. An Overview of Anti-Fraud Strategy
    2. Fraud Risk Governance
    3. Fraud Risk Assessment
    4. Prevention and Detection Techniques
    5. Fraud Investigation and Corrective Action
    6. Self-Test
  • Appendix A: Risk Factors Relating to Misstatements Arising From Fraudulent Financial Reporting
  • Appendix B: Risk Factors Relating to misstatements Arising From Misappropriation of Assets
  • Appendix C: Warning Signs of Fraud and Misconduct
  • Appendix D: Fraud Policy Template
  • Appendix E: Outline Fraud Response Plan
  • Glossary
  • Reference
An excellent guidebook for readers who are responsible for establishing internal controls. Many examples and illustrations help readers to identify, prevent, and detect common fraud schemes.
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About the Author

Christina Liu