Fraud in Accounts Payable: How to Prevent It - Hardcover

Schaeffer, Mary S.

Hardcover

ISBN 10: 0470260459 ISBN 13: 9780470260456

Publisher: Wiley, 2008

Synopsis

Praise for Fraud in Accounts Payable

"Fraud in Accounts Payable is an insightful book that takes an in-depth look at the three most frequently committed fraudulent cash disbursement schemes directly related to your accounts payable function. Mary provides colorful and poignant stories showing how easy it can be to steal from both within and outside an organization. But the real beauty of this book is that Mary illustrates ways you can immediately begin implementing effective and efficient controls to reduce the opportunities for fraud within your organization."
―Matthew D. Storlie, CFE, Fraud & Forensic Services Virchow, Krause & Company, LLP

"Mary has delivered another book full of specific suggestions for improving accounts payable processes. Fraud in Accounts Payable is an easy-to-read guide that identifies real-world problems and offers practical solutions. Her books and articles have quickly become some of my core resources."
―Stephanie K. O'Cain, Chief Financial Officer Municipal Association of South Carolina

"Fraud could never take place in my accounts payable department."

"My employees would never steal from me! I trust them too much . . ."

Sound familiar?

The definitive resource for every accounts payable department, Fraud in Accounts Payable affords you a bird's-eye view of what's really going on in your accounts payable department and how you can defend it against every potential type of fraud, including check fraud, payroll fraud, and T&E fraud.

Written by Mary Schaeffer, America's most accomplished accounts payable expert, this thorough and highly readable guide is filled with authoritative tips, techniques, and advice on:

• Uncovering hidden pockets of weakness where your organization is vulnerable

• Getting rid of those bad practices that allow all sorts of frauds to flourish

• Setting up antifraud safeguards

Reminding us to "never say never," Fraud in Accounts Payable explains in plain English how to protect your accounts payable department so it becomes―and stays―financially healthy.

About this title

About the Author

Mary S. Schaeffer is a nationally recognized accounts payable expert. She is the founder and Editorial Director of Accounts Payable Now & Tomorrow, a newsletter for professionals interested in payment issues. She is the author of twelve books and has written hundreds of articles that have appeared in publications such as the New York Times, Corporate Cashflow, Treasury & Risk, Business Credit, the Writer, Newsday, and newsweek.com. She has an MBA in finance and is a member of the New York Financial Writers' Association. She is a regular contributor to AICPA's Corporate Finance Insider publication.

"Fraud in Accounts Payable is an insightful book that takes an in-depth look at the three most frequently committed fraudulent cash disbursement schemes directly related to your accounts payable function. Mary provides colorful and poignant stories showing how easy it can be to steal from both within and outside an organization. But the real beauty of this book is that Mary illustrates ways you can immediately begin implementing effective and efficient controls to reduce the opportunities for fraud within your organization."
â??Matthew D. Storlie, CFE, Fraud & Forensic Services Virchow, Krause & Company, LLP

"Mary has delivered another book full of specific suggestions for improving accounts payable processes. Fraud in Accounts Payable is an easy-to-read guide that identifies real-world problems and offers practical solutions. Her books and articles have quickly become some of my core resources."
â??Stephanie K. O'Cain, Chief Financial Officer Municipal Association of South Carolina

"Fraud could never take place in my accounts payable department."

"My employees would never steal from me! I trust them too much . . ."

Sound familiar?

The definitive resource for every accounts payable department, Fraud in Accounts Payable affords you a bird's-eye view of what's really going on in your accounts payable department and how you can defend it against every potential type of fraud, including check fraud, payroll fraud, and T&E fraud.

Written by Mary Schaeffer, America's most accomplished accounts payable expert, this thorough and highly readable guide is filled with authoritative tips, techniques, and advice on:

• Uncovering hidden pockets of weakness where your organization is vulnerable

• Getting rid of those bad practices that allow all sorts of frauds to flourish

• Setting up antifraud safeguards

Reminding us to "never say never," Fraud in Accounts Payable explains in plain English how to protect your accounts payable department so it becomesâ??and staysâ??financially healthy.

From the Inside Flap

"Fraud and murder have a lot in common. If you've seen even a few detective shows or movies, you know there are three factors for identifying the murderer: means, motive, and opportunity. Alas, the same is true for fraud."
â??From Fraud in Accounts Payable

It's an undeniable fact of corporate lifeâ??fraud happensâ??and it is particularly likely to take place in accounts payable because of this department's easy access to the organization's money. Fraud in Accounts Payable is written with a two-fold goalâ??to make fraud so difficult within an organization that potential perpetrators give up and take their efforts elsewhere and to provide auditors, controllers, managers, and executives with the best practice tools to detect fraud and get it out of their organizations.

A realistic and unflinching look at corporate fraud, this practical guide pulls the curtain back on fraud in accounts payable, revealing that every organization is vulnerable to it, as well as the appropriate steps professionals can take to both detect and prevent it. Myths such as "fraud could never happen to my business" or "I trust my employeesâ??they would never steal from me" are confronted and dissolved with coverage of:

• Occupational fraud

• Internal controls and paper checks

• Check fraud: still a huge problem

• Electronic payment fraud

• Petty cash fraud

• Vendor and invoice fraud

• Payroll fraud

• Telecom fraud

No organization can afford to take the issue of fraud lightly. This is required reading for every professional, whether their organization is a small business or a large corporation. Fraud in Accounts Payable will help organizations know the appropriate steps to both detect fraud and prevent it in the accounts payable departmentâ??before it eats away at the bottom line.

Edition details

• Publisher: Wiley
• Publication date: 2008
• Language: English
• ISBN 10: 0470260459
• ISBN 13: 9780470260456
• Binding: Hardcover
• Edition number: 1
• Number of pages: 224