Fraud Auditing And Forensic Accounting, Fouth Edition PDF
Preview Fraud Auditing And Forensic Accounting, Fouth Edition
FFIRS 07/01/2010 13:20:1 Page2 FFIRS 07/01/2010 13:20:1 Page1 Fraud Auditing and Forensic Accounting FFIRS 07/01/2010 13:20:1 Page2 FFIRS 07/01/2010 13:20:1 Page3 Fraud Auditing and Forensic Accounting Fourth Edition TOMMIE W. SINGLETON AARON J. SINGLETON JohnWiley&Sons,Inc. FFIRS 07/01/2010 13:20:1 Page4 Copyright#2010byJohnWiley&Sons,Inc.Allrightsreserved. PublishedbyJohnWiley&Sons,Inc.,Hoboken,NewJersey. PublishedsimultaneouslyinCanada. 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Wileyalsopublishesitsbooksinavarietyofelectronicformats.Somecontentthat appearsinprintmaynotbeavailableinelectronicbooks.Formoreinformationabout Wileyproducts,visitourwebsiteatwww.wiley.com. LibraryofCongressCataloging-in-PublicationData: Singleton,Tommie. Fraudauditingandforensicaccounting/TommieW.Singleton,AaronJ.Singleton.– 4thed. p.cm. Rev.ed.of:Fraudauditingandforensicaccounting.3rded.2006. Includesindex. ISBN978-0-470-56413-4;ISBN978-0-470-87748-7(ebk); ISBN978-0-470-87790-6(ebk);ISBN978-0-470-87791-3(ebk) 1. Whitecollarcrimeinvestigation–UnitedStates. 2. Forensicaccounting–United States. 3. Fraudinvestigation–UnitedStates. I. Singleton,AaronJ.,1980- II. Fraudauditingandforensicaccounting. III. Title. HV8079.W47B652010 0 364.163—dc22 2010013504 PrintedintheUnitedStatesofAmerica 10 9 8 7 6 5 4 3 2 1 FFIRS 07/01/2010 13:20:1 Page2 FTOC 07/01/2010 22:7:32 Page5 Contents Preface xi Acknowledgments xiii Chapter1:BackgroundofFraudAuditingand ForensicAccounting 1 Introduction 1 BriefHistoryofFraudandtheAntifraudProfession 3 TheFraudCycle 7 ReviewofTechnicalLiterature 9 ForensicAccountantandAudits 11 ForensicAccountants 20 FraudAuditors 25 KeystoEffectiveFraudInvestigation 31 TheAntifraudProfessional’sCareer 33 Summary 36 Notes 37 Chapter2:FraudPrinciples 39 Introduction 39 Definition:WhatIsFraud? 40 Synonyms:Fraud,Theft,andEmbezzlement 42 ClassicFraudResearch 42 FraudTriangle 44 ScopeofFraud 47 ProfileofFraudsters 49 WhoIsVictimizedbyFraudMostOften? 53 FraudTaxonomies 54 FraudTree 62 EvolutionofaTypicalFraud 65 Summary 68 Notes 69 v FTOC 07/01/2010 22:7:32 Page6 vi n Contents Chapter3:FraudSchemes 71 Introduction 71 ACFEFraudTree 73 FinancialStatementSchemes 80 CorruptionSchemes 83 AssetMisappropriationSchemes 84 Summary 94 Notes 94 Chapter4:RedFlags 95 Introduction 95 ProfessionalStandards 97 CommonRedFlags 99 SpecificRedFlags 101 FraudDetectionModel 110 Summary 111 Notes 112 Chapter5:FraudRiskAssessment 113 Introduction 113 TechnicalLiteratureandRiskAssessment 114 RiskAssessmentFactors 115 RiskAssessmentBestPractices 119 RiskManagementChecklistsandDocumentation 125 Summary 129 Notes 129 Chapter6:FraudPrevention 131 Introduction 131 PreventionEnvironment 132 PerceptionofDetection 135 ClassicApproaches 137 OtherPreventionMeasures 139 AccountingCycles 141 Summary 143 Notes 143 FTOC 07/01/2010 22:7:32 Page7 Contents n vii Chapter7:FraudDetection 145 Introduction 145 FraudDetectionAxioms 146 CommonDetectionMethods 146 SpecificDetectionMethods 149 Summary 155 Appendix7A:Beneish’sRatios 156 Chapter8:FraudResponse 157 Introduction 157 FraudPolicy 157 FraudResponseTeam 160 Recovery 164 Summary 165 Notes 166 Appendix8A:ACFESampleFraudPolicy 167 Appendix8B:SampleFraudPolicyDecisionMatrix 172 Chapter9:ComputerCrime 175 Introduction 175 HistoryandEvolutionofComputerCrimes 176 ComputerCrimeTheoriesandCategorizations 179 CharacteristicsoftheComputerEnvironment 182 InformationSecurity(INFOSEC) 185 ProfilingInternetFraudsters 186 Summary 192 Notes 193 Chapter10:FraudandtheAccountingInformationSystem 195 Introduction 195 AccountingConcepts 196 SegregationofDuties 202 AccountingInformationSystems 203 KeyPersonnel 204 ComputerHardware 208 ComputerSoftware 210 NewFormsofMedia 211 AuditTrailConcept 211 Summary 212
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