Financial Statement Fraud: Strategies for Detection and Investigation

  • 4h 59m
  • Gerard M. Zack
  • John Wiley & Sons (US)
  • 2013

Financial statement fraud is one of the most costly types of fraud and can have a direct financial impact on businesses and individuals, as well as harm investor confidence in the markets. While publications exist on financial statement fraud and roles and responsibilities within companies, there is a need for a practical guide on the different schemes that are used and detection guidance for these schemes. Financial Statement Fraud: Strategies for Detection and Investigation fills that need.

  • Describes every major and emerging type of financial statement fraud, using real-life cases to illustrate the schemes
  • Explains the underlying accounting principles, citing both U.S. GAAP and IFRS that are violated when fraud is perpetrated
  • Provides numerous ratios, red flags, and other techniques useful in detecting financial statement fraud schemes

Straightforward and insightful, Financial Statement Fraud provides comprehensive coverage on the different ways financial statement fraud is perpetrated, including those that capitalize on the most recent accounting standards developments, such as fair value issues.

About the Author

GERARD M. ZACK, CFE, CPA, CIA, is a fraud examiner and forensic accountant with more than thirty years of experience performing audits and investigating fraud. In addition to providing antifraud services to clients, he serves on the faculty of the Association of Certified Fraud Examiners, where he conducts antifraud training on financial statement fraud and other topics. He has also spoken at AICPA and IIA events.

In this Book

  • Introduction to Revenue-Based Financial Reporting Fraud Schemes
  • Timing Schemes
  • Fictitious and Inflated Revenue
  • Misclassification Schemes
  • Gross-Up Schemes
  • Improper Capitalization of Costs
  • Asset Valuation Schemes
  • Fair Value Accounting
  • Shifting Expenses to Future Periods
  • Omissions and Underreporting of Liabilities
  • Consolidations and Business Combinations
  • Financial Reporting Fraud as a Concealment Tool
  • Financial Statement Fraud by Not-for-Profit Organizations
  • Disclosure Fraud
  • Detecting Financial Statement Fraud
  • Financial Statement Analysis
  • Ratio Analysis
  • Other Detection Procedures
  • Fraud or Honest Mistake?
  • Assessing (or Minimizing) Auditor Liability
  • Index to Cases