Fraud Risk Management: A Practical Guide for Accountants - Softcover

Turner, Catherine

Softcover

ISBN 10: 0750683813 ISBN 13: 9780750683814

Publisher: CIMA Publishing, 2007

Synopsis

This book provides a user-friendly guide to current and emerging issues in fraud both internal to the company, and external. It explains the terminology used and sets out the chief risks which management accountants need to be aware of. It then sets out a practical framework for the management and mitigation of fraud risk. This is followed up by an explanation of what to do in the event of concerns that a fraud has been perpetrated, is underway or is being attempted. The book also guides the reader through the process of dealing with the law enforcement authorities in the event of an investigation. The book is for all those accountants who are not professionals in risk management or investigation procedures, but who need to be aware of the issues, many of which will impact on their area of responsibility; it therefore aims to give them a user-friendly manual to the issue of fraud risk. In addition the book will provide a valuable update on emerging trends in the fraud environment. The author is a financial services and regulatory consultant with extensive experience in fraud risk management. She is also Manager, Corporate Governance for an international life company, and an examiner and moderator who lectures and writes extensively on a wide range of compliance and financial services matters. The book is in three sections: Section 1: What is fraud? What are the emerging trends in fraud at present? Section 2: what risks may you encounter in your business, and what fraud management systems should you have in place? Section 3: post-event fraud management ? what to do when your concerns are aroused that a fraud has taken place or is being attempted?

About this title

About the Author

Catherine is Group Compliance Officer for Maitland (www.maitlandgroup.com) and also

an Associate Lecturer in Financial Services at the Isle of Man College of Further Education.

Prior to her current position she was Head of Legal, Compliance and Risk - Global Fund Services, Bank of Bermuda (Isle of Man) Ltd. She has been in the financial services industry for 20 years. She has also held positions as Manager, Marketing and Product Development for an international financial services provider, and was a Policy Adviser to the Isle of Man Government Financial Supervision Commission specialising in the development of the regulatory framework for collective investment schemes. She is a Fellow of the Chartered Institute of Bankers, a Member of the Securities Institute, a Member of the Society of Financial Advisers and an Associate of the Life Insurance Association by Diploma.She lectures internationally on subjects including fund management, regulation and compliance, insider dealing, investor protection regimes, and mortgage lending, and is Associate Lecturer, Financial Services at the Isle of Man College of Further Education. She has been engaged by the Africa Centre for Investment Analysis to deliver a 3-day course in November 2003 covering Insider Dealing Regimes, Investor Protection Regimes and International Funds.

From the Back Cover

‘Fraud Risk Management’, the essential guide for accountants in the management and mitigation of fraud risk.

‘Fraud Risk Management’ is a practical guide to current and emerging issues in managing internal and external fraud risk. Whilst providing a valuable update on current and developing trends in the fraud environment, this book also covers terminology used and elaborates upon the chief risks which management accountants must be aware of. Turner, the author, provides a practical framework for essential action in the event of the perpetration of or attempted fraud. The reader is also guided through the process of interacting with law enforcement authorities during an investigation.

The current context of fraud is such that there is rising public disquiet at the perception of wrongdoing within large and often publicly listed companies; a sense that the people to whom individuals entrust their money should be held properly accountable for what they do and how they spend. Fraudulent activity is often believed to be associated, disconcertingly, with terrorist funding. Politicians and lawmakers are keen to be seen to act swiftly and firmly to protect their people, with a view to both protecting local economy and to maintaining investor confidence.

Thus Governments have never been so ready to intervene. They are granting, and regulatory bodies and law enforcement agencies are using, a wide range of enforcement and information-gathering powers – and there is more talk than ever before on subjects such as “corporate governance”. In effect, the officers and senior employees of companies are now subject to much greater responsibility, liability and accountability, for the activities of the organisations they work for.

This book is aimed at management accountants who are not professionals in risk management or investigation procedures, but who need to be suitably aware in case of impact on individual responsibilities. It provides a user-friendly manual divided into three sections, ‘What is fraud?’; ‘What risks may you encounter in your business and what fraud management systems should you have in place?’ and ‘Post event fraud management’. The author, is a financial services and regulatory consultant with extensive hands-on experience in internal audit, risk management and compliance matters. She is also Manager of Corporate Governance for a group of international life companies and lectures extensively on a wide range of compliance and financial services matters.

Edition details

• Publisher: CIMA Publishing
• Publication date: 2007
• Language: English
• ISBN 10: 0750683813
• ISBN 13: 9780750683814
• Binding: Paperback
• Number of pages: 170