Financial Crime Investigation and Control

Features

• Cover Type: Hard Cover with 288 pages
• Published by: Wiley April 24, 2002
• Written in: English
• ISBN 10 Number: 0471203351
• ISBN 13 Number: 978-0471203353
• Book Dimensions: 9.3 x 6.4 x 0.9 inches
• Weighs: 1.3 pounds

Reader Reviews
This is one of the few books about auditing and compliance that is written for general business managers instead of auditors. To be sure, the material represents an excellent training tool for auditors and compliance specialists who need to develop a company-wide awareness program as one tier in a comprehensive initiative. However, the main message in the book, and the approach it presents, is based on the fact that the responsibility for deterring fraud extends well beyond auditing and compliance. Indeed, the most effective deterrent is an aware management and workforce that is vigilant at all levels. Three objectives of this book are: (1) serve as a primer on financial fraud, its impact on organizations and common exposures, and (2), give mangers who may not be trained in auditing guidance and techniques to investigate fraud if they find themselves tasked with doing so (a particularly common occurrence in small-to-medium businesses), (3) provide a comprehensive framework for detecting, investigating and dealing with fraud. The full range of topics are covered and are presented without the professional auditing and compliance jargon, which makes it easy for general business professionals to understand. I like the way the authors addressed ethics, and especially like the chapter on whistleblowing (see "Merrill Lynch: The Cost Could Be Fatal" by Keith A. Schooley for a realistic view of how tricky this can be for all parties). In addition, I thought that the integrated approach that defines clearly articulated policies and procedures, and roles and responsibilities for all stakeholders is a critical success factor to making it all work. The reason is, like security, fraud control requires a defense in depth that depends on no single element of that defense. I also found the two appendices (A-Forensic Statement Analysis and B-An Introduction to Data Mining as a Fraud Risk Management Tool) invaluable. For whom will this book be most useful? Managers, regardless of functional area or specialty, will gain insights into causes and steps to prevent fraud. It will also provide basic tools for investigating suspected fraud. Professional auditors or compliance specialists will find a viable approach to developing and implementing a company-wide initiative that will significantly reduce fraud. Corporate and IT security specialists will find a wealth of material that will support their own detection, investigation and action procedures, especially for the IT security specialist who is trained in forensics. Comment | | (Report this)