A how-to guide to small business anti-fraud protection and internal control Internal Control/Anti-Fraud Program Design for the Small Business is a practical guide to protection for businesses NOT subject to the Sarbanes-Oxley Act. Written by an expert with three decades of forensic investigation experience, this book is geared specifically toward private, non-public small businesses and their unique needs in the realm of fraud protection. Covering all elements of an internal control structure applicable to the small business community, this guide provides a step-by-step roadmap for designing and implementing an effective, efficient internal control structure/anti-fraud program tailored to your business's particular needs. Case studies are used throughout to illustrate internal control weaknesses and the fraud that can result, and follow-up analysis describes the controls that would have reduced the probability of fraud had they been in place. You'll learn how to analyze your company's internal control issues, and implement a robust system for fraud prevention. Guidance toward Sarbanes-Oxley compliance is readily available, but there is little information available for the many businesses not subject to the act —until now. This book is the step-by-step guide for instituting an internal control program tailored to your small business. Understand the five elements of internal control Avoid gaps in protection with relevant controls Design the ultimate anti-fraud program Implement internal control tailored to your needs The majority of small business owners simply do not know the elements of or implementation process involved in internal control, and Sarbanes-Oxley guidelines don't necessarily scale down. Internal Control/Anti-Fraud Program Design for the Small Business helps you design and install the internal control/anti-fraud protection your business needs.
Quick and easy implementation and maintenance guide for ongoing Sarbanes-Oxley compliance For most companies, achieving compliance to the Sarbanes-Oxley Act (SOX) has proven to be more challenging, and more costly, than initially anticipated. In many cases, initial and second-year compliance efforts were found to have strained company resources, causing a shift of focus away from such areas as internal audit in order to meet SOX requirements. Sarbanes-Oxley Ongoing Compliance Guide: Key Processes and Summary Checklists provides controllers, CFOs, and auditors with step-by-step guidance to setting up an ongoing compliance program for SOX in a quick, easy-to-follow manner. This essential book discusses crucial issues such as who should spearhead Sarbanes-Oxley compliance, how it should be set up, and which SOX issues need to be monitored by function. Highlighting the key issues that need to be addressed, this book provides your organization with practical tools including customizable checklists sorted by function for the SOX implications that correspond to various business functions, such as finance, accounting, IT, and management fields. Today, more than ever, a properly structured internal audit function can be a tremendous benefit to an organization, impacting not only regulatory compliance, but also operational excellence. Concise and clear in presentation, Sarbanes-Oxley Ongoing Compliance Guide: Key Processes and Summary Checklists shows you how to help your organization put in place a successful enterprise risk management program. This important book arms you with the vital components of a detailed compliance plan that makes the most of technology to assist in reducing ongoing compliance costs.
Unique insights into the nature of fraud and how to expose it It's not enough to wait for a tip to expose corporate fraud. Fraud 101, Second Edition provides step-by-step guidance on how to perform detection procedures for every major type of fraud. Its new and detailed case studies reveal how easy it can be for a perpetrator to commit a fraud and how difficult it can be to prosecute. This new edition also offers expanded coverage of financial statement fraud, fraud-specific internal control, and Sarbanes-Oxley.
The essential companion to Corporate Fraud and Internal Control, complete with review exercises for key concepts Used together with Corporate Fraud and Internal Control: A Framework for Prevention, this Workbook tests readers' knowledge of the subject with a focus on the appropriateness of the design of the system of internal controls in fraud risk mitigation, as well as the mechanisms to ensure effective implementation and monitoring on an ongoing basis. This Workbook includes step-by-step exercises and tests to help the reader master the techniques in fraud prevention and detection. Companion to Corporate Fraud and Internal Control: A Framework for Prevention Includes step-by-step exercise and tests Provides discussion-based case studies Features the necessary tools that companies need to combat fraud Written by a fraud prevention leader, Corporate Fraud and Internal Control Workbook features a fill in the blanks structure, followed by a short answer section, and ending with a discussion based series of case studies covering the following topics.
What is the importance of Sections 302 and 404? «Implementing» SOX using COSO and COBIT SOX's impact on foreign companies andnonprofits Achieving cost-effective sustainable compliance The evolving role of the SEC and the PCAOB Praise for ESSENTIALS OF SARBANES-OXLEY «Since its enactment in 2002, the Sarbanes-Oxley Act and its Section 404 internal control requirements have caused many a great deal of 'pain and suffering!' With its emphasis on what Sanjay Anand frequently reminds us is the 'real world,' this book should reduce some of that pain as it provides a practical and very realistic approach for an effective implementation of Sarbanes-Oxley internal control processes. The book has references to the new changes in auditing standards and emphasizes achieving sustainable compliance-practical and realistic approaches.» —Robert R. Moeller, President, Compliance & Control Systems, Inc. «Sanjay Anand has provided what every busy executive needs, a concise overview of Sarbanes-Oxley Act essentials. His book is a terrific reference text that I recommend to anyone who needs to quickly understand the substance of the Act.» —Scott Green, Chief Administration Officer Weil, Gotshal & Manges LLP «If you are looking to put together the various pieces-finance, accounting, audit, legal, IT, ethics-and understand the 'big picture' of the Sarbanes-Oxley Act, there is no other book like this. With 'Tips & Techniques' and 'In the Real World' examples, this book brings lively, practical, tangible, and compressible dimensions to a complex, multifaceted (and often dry) subject. This is essential reading for those new to the process and old hands going into their third and fourth years of SOX. It will also help those in other countries adopting SOX-like internal controls and regulations.» —Dr. Anthony Tarantino, Governance, Risk, and Compliance Center of Excellence, IBM, Financial Services Sector, Silicon Valley and New York City Written by Sanjay Anand, one of the world's leading corporate governance, risk management, and regulatory compliance experts, this simple to use book is designed with appreciation for demanding professional obligations, with information always easy to find and at your fingertips. Essentials of Sarbanes-Oxley equips you with the knowledge you and all your company members need to initiate a SOX project, allocate a budget, and help your company achieve compliance.
Corporate financial scandals caused the investment community, the business world as well as the US Congress to question and then reform the financial auditing standards through the adoption of an act named Sarbanes-Oxley (SOX). The SOX aim is to restore and maintain confidence in financial reporting and it applies to all companies, including foreign ones, which stocks are listed in US stock markets. The documentation of the internal controls over financial reporting and an annual report on the effectiveness of the controls is among SOX key provisions (Section 404 of SOX Act). Therefore, all companies listed on US stock markets have to comply with Section 404 recommendations. This book gives the general basis on SOX, then an application of SOX compliance project in a listed bank. On a quarterly basis, NYSE listed companies need to report on their financial controls, therefore this book is a good tool for CEOs, CFOs, internal auditors, external auditors, business researchers, business schools, listed banks, investors, law makers, Congress Members and students.
Myth-busting guidance for fraud preventionin a practical workbook format An excellent primer for developing and implementing an anti-fraud program that works, Financial Services Anti-Fraud Risk and Control Workbook engages readers in an absorbing self-paced learning experience to develop familiarity with the practical aspects of fraud detection and prevention at banks, investment firms, credit unions, insurance companies, and other financial services providers. Whether you are a bank executive, auditor, accountant, senior financial executive, financial services operations manager, loan officer, regulator, or examiner, this invaluable resource provides you with essential coverage of: How fraudsters exploit weaknesses in financial services organizations How fraudsters think and operate The tell-tale signs of different types of internal and external fraud against financial services companies Detecting corruption schemes such as bribery, kickbacks, and conflicts of interest, and the many innovative forms of financial records manipulation Conducting a successful fraud risk assessment Basic fraud detection tools and techniques for financial services companies, auditors, and investigators Fraud prevention lessons from the financial meltdown of 2007-2008 Written by a recognized expert in the field of fraud detection and prevention, this effective workbook is filled with interactive exercises, case studies, and chapter quizzes, and shares industry-tested methods for detecting, preventing, and reporting fraud. Discover how to mitigate fraud risks in your organization with the myth-busting techniques and tools in Financial Services Anti-Fraud Risk and Control Workbook.
Essential guidance for creation of an effective fraud audit program in core business systems The Association of Certified Fraud Examiners has reported that U.S. businesses lose up to $4 billion annually due to fraud and abuse. Discover fraud within your business before yours becomes another business fraud statistic. The Fraud Audit provides a proven fraud methodology that allows auditors to discover fraud versus investigating it. Explains how to create a fraud audit program Shows auditors how to locate fraud through the use of data mining Focuses on a proven methodology that has actually detected fraudulent transactions Take a look inside for essential guidance for fraud discovery within specific corporate F&A functions, such as disbursement, procurement, payroll, revenue misstatement, inventory, journal entries, and management override.
Essential guidance on the revised COSO internal controls framework Need the latest on the new, revised COSO internal controls framework? Executive's Guide to COSO Internal Controls provides a step-by-step plan for installing and implementing effective internal controls with an emphasis on building improved IT as well as other internal controls and integrating better risk management processes. The COSO internal controls framework forms the basis for establishing Sarbanes-Oxley compliance and internal controls specialist Robert Moeller looks at topics including the importance of effective systems on internal controls in today's enterprises, the new COSO framework for effective enterprise internal controls, and what has changed since the 1990s internal controls framework. Written by Robert Moeller, an authority in internal controls and IT governance Practical, no-nonsense coverage of all three dimensions of the new COSO framework Helps you change systems and processes when implementing the new COSO internal controls framework Includes information on how ISO internal control and risk management standards as well as COBIT can be used with COSO internal controls Other titles by Robert Moeller: IT Audit, Control, and Security, Executives Guide to IT Governance Under the Sarbanes-Oxley Act, every corporation has to assert that their internal controls are adequate and public accounting firms certifying those internal controls are attesting to the adequacy of those same internal controls, based on the COSO internal controls framework. Executive's Guide to COSO Internal Controls thoroughly considers improved risk management processes as part of the new COSO framework; the importance of IT systems and processes; and risk management techniques.
Designed to lead financial managers from initial compliance with the Sarbanes-Oxley Act, through ongoing maintenance and monitoring, Beyond Sarbanes-Oxley Compliance helps readers seize this opportunity to revitalize their business practice, drive greater performance, and transform their finance organization into a key contributor to the business. Focusing on the present and future financial road ahead, Beyond Sarbanes-Oxley Compliance explores how to implement enterprise risk management processes that comply with Sarbanes-Oxley 302/404/409 requirements, ways to build on initial compliance activities that will improve financial management processes and profitability, compliance and quarterly close checklists, timelines, and table summaries to help readers achieve their goals, and much more.
A straightforward guide explaining the nature of financial fraud Fraud continues to be one of the fastest growing and most costly crimes in the United States and around the world. The more an organization can learn about fraud in general and the potential fraud risks that threaten the financial stability of the organization's cash flow, the better that organization will be equipped to design and implement measures to prevent schemes from occurring in the first place. Fraud 101, Third Edition serves as an enlightening tool for you, whether you are a business owner or manager, an accountant, auditor or college student who needs to learn about the nature of fraud. In this invaluable guide, you will discover and better understand the inner workings of numerous financial schemes and internal controls to increase your awareness and possibly prevent fraud from destroying your organization's financial stability. It offers guidance, understanding, and new, real-world case studies on the major types of fraud, including An understanding of why fraud is committed An overview of financial fraud schemes White-collar crime Uncovering employee embezzlements Establishing internal fraud controls The nature of collecting evidence With case studies included throughout the book to gain insight to the real world of fraud, Fraud 101, Third Edition describes the features of fraud and then provides proven methods of prevention, as well as solutions to expose different types of fraud.
Praise for Accounting Control Best Practices, Second Edition «A comprehensive, well-organized reference manual that is perfect for managers and auditors of public and private companies. Whether you wish to comply with the rigors of the Sarbanes-Oxley Act or take your company to the next level, Accounting Control Best Practices, Second Edition contains virtually everything you'll need to design, challenge, and improve your company's internal control environment.» —Matthew T. Posta, Esq., CPA «Steven Bragg continues to improve the accounting field by providing thorough, step-by-step instruction in accounting best practices. During a recent software conversion, his book was my expert guide ensuring that the previous manual controls were replaced with the now automated process. It provides practical steps for both small and large organizations.» —Melody TroesserDirector of Accounting ServicesCole County Residential Services, Inc. «This updated reference is a comprehensive source for those who design, implement, or evaluate controls. Guidance is focused on understanding and mitigating risks, while also acknowledging the importance of efficiency and the use of automated systems. A very worthwhile addition to our knowledge base in today's control-aware environment.» —Clint Davies, PrincipalBerry, Dunn, McNeil & Parker
Proven guidance for fraud detection and prevention in a practical workbook format An excellent primer for developing and implementing an anti-fraud program, Anti-Fraud Risk and Control Workbook engages readers in an absorbing self-paced learning experience to develop familiarity with the practical aspects of fraud detection and prevention. Whether you are an internal or external auditor, accountant, senior financial executive, accounts payable professional, credit manager, or financial services manager, this invaluable resource provides you with timely discussion on: Why no organization is immune to fraud The human element of fraud Internal fraud at employee and management levels Conducting a successful fraud risk assessment Basic fraud detection tools and techniques Advanced fraud detection tools and techniques Written by a recognized expert in the field of fraud detection and prevention, this effective workbook is filled with interactive exercises, case studies, and chapter quizzes and shares industry-tested methods for detecting, preventing, and reporting fraud. Discover how to become more effective in protecting your organization against financial fraud with the essential techniques and tools in Anti-Fraud Risk and Control Workbook.
Praise for Nonprofit Strategic Planning Leveraging Sarbanes-Oxley Best Practices «A robust nonprofit sector is a vital part of a civil society. Keeping the sector strong through effective strategic planning and implementation is a critical assignment. As a thought leader in the nonprofit sector, Dr. Jackson's book on the relationship of Sarbanes-Oxley best practices with strategic planning is an invaluable resource for nonprofit governing boards and employees. Her step-by-step, practical approach is easy to read and, more important, provides a specific road map to effective planning.» -Larry Brewster, Dean, College of Professional Studies University of San Francisco «Dr. Jackson's practical and straightforward approach to creating a strategic plan is quite refreshing. I believe that more and more nonprofits understand that they need to be run just as any business needs to be run-with focus, clarity, and purpose. The ideas and methodology stress the importance of sound risk management and the rewards of having such a plan in place. I can assure you that the executive director of every nonprofit I represent will receive a copy of this book.» -Joseph L. DeLucchi, Vice President CAL Insurance & Associates, Inc. Get Nonprofit Strategic Planning: Leveraging Sarbanes-Oxley Best Practices and * Examine if your nonprofit has the right people on board to achieve its strategic goals * Establish important control mechanisms * Learn how the legal and legislative environments have changed over the last five years * Discover the direction in which your nonprofit needs to go and why Required reading for anyone leading a nonprofit organization, Nonprofit Strategic Planning: Leveraging Sarbanes-Oxley Best Practices prepares your organization to engage in meaningful strategic planning and equips you with the practical tools to navigate it through today's competitive environment.
Uncover hidden fraud and red flags using efficient data analytics Fraud Data Analytics Methodology addresses the need for clear, reliable fraud detection with a solid framework for a robust data analytic plan. By combining fraud risk assessment and fraud data analytics, you'll be able to better identify and respond to the risk of fraud in your audits. Proven techniques help you identify signs of fraud hidden deep within company databases, and strategic guidance demonstrates how to build data interrogation search routines into your fraud risk assessment to locate red flags and fraudulent transactions. These methodologies require no advanced software skills, and are easily implemented and integrated into any existing audit program. Professional standards now require all audits to include data analytics, and this informative guide shows you how to leverage this critical tool for recognizing fraud in today's core business systems. Fraud cannot be detected through audit unless the sample contains a fraudulent transaction. This book explores methodologies that allow you to locate transactions that should undergo audit testing. Locate hidden signs of fraud Build a holistic fraud data analytic plan Identify red flags that lead to fraudulent transactions Build efficient data interrogation into your audit plan Incorporating data analytics into your audit program is not about reinventing the wheel. A good auditor must make use of every tool available, and recent advances in analytics have made it accessible to everyone, at any level of IT proficiency. When the old methods are no longer sufficient, new tools are often the boost that brings exceptional results. Fraud Data Analytics Methodology gets you up to speed, with a brand new tool box for fraud detection.