Book description
A strategic, practical, cost-effective approach to fraud prevention
In troubled economic times, the risk of fraud and financial crime increases. In our post credit crunch environment, new laws and tougher penalties for financial crime mean that if you are in business, you have a responsibility to help fight fraud.
However, to design effective, proportionate fraud controls for your business, you need a complete picture of all the risks. Managing Fraud Risk shows you where to look for fraud, setting out a route-map for finding and fighting fraud risks in your business, with the practical, strategic advice you need.
Combining the latest theory with forensic risk analysis, this book reveals how you can provide assurance to your Board and stakeholders. Practical examples are used to clearly show cost-effective techniques for preventing and detecting business fraud. An innovative fraud awareness quiz enables you to easily apply the theories and principles.
Answers questions such as: Who commits more fraud: men or women? How many of your employees are prepared to falsify documents?
Essential information to ensure your procedures are sufficient to meet compliance with new international legislation increasing the liability of directors and managers in cases of fraud and corruption
Takes a new perspective from the point of view of business risk, making it unique to other texts that take only an auditing, investigative, or specialist approach
This route-map is essential reading to help you navigate the complex landscape of business fraud.
Table of contents
- Cover
- Title Page
- Copyright
- Dedication
- Acknowledgements
- Introduction
-
Chapter 1: Responsibility
- What a Mess – How could all this have been Allowed to Happen?
- Introduction
- Answers to the Quiz
- Responsibility Framework
- The Linkage between Risk Management and Internal Controls
- The Importance of Evidence
- The Role of Audit in Fraud Prevention and Detection
- The Strategic Approach to Managing Fraud Risk
- The Fraud Risk Management Framework
- Chapter 2: Meaning
- Chapter 3: People
-
Chapter 4: Risk
- We are All Risk Managers Now
- Introduction
- Answers to the Quiz
- Risk Management Primer
- Avoid the Tick-Box Attitude
- Strategic Risk Management and the “4Ts” Approach
- The Use of Insurance
- The Key Risk – Reputation
- Taking a Risk-Based Approach to Financial Crime
- Taking a Risk-Based Approach to Fraud
- The “4Ts” Approach – Answer to the Exercise
- Chapter 5: Governance
-
Chapter 6: Controls
- Getting Run Over by a Bus
- Introduction
- Answers to the Quiz
- Internal Controls Overview
- Control Characteristics
- Internal Control Structure
- Modern Internal Controls Frameworks
- The Role of Audit in Fraud Prevention and Detection
- The External Audit
- Internal Auditing
- Limitations of Traditional Audit Techniques
- SAS 99: Considerations of Fraud in a Financial Statement Audit
- The Role of the Audit Committee
- Chapter 7: Prevention
- Chapter 8: Detection
- Chapter 9: Investigation
- Chapter 10: Ethics
- Epilogue
- References
- Index
Product information
- Title: Managing Fraud Risk: A Practical Guide for Directors and Managers
- Author(s):
- Release date: December 2012
- Publisher(s): Wiley
- ISBN: 9780470979457
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