Synopses & Reviews
Praise for Executive Roadmap to Fraud Prevention and Internal Control Second Edition"This book touches all the bases on corporate fraud. The authors—both experienced fraud investigators and federal law enforcement agents—lay out the history and major milestones of corporate fraud, and discuss with precision the key issues facing today's executives and compliance leaders. The book provides a valuable overview for business leaders looking to develop and implement effective compliance programs and instill a culture of integrity in order to help their organizations defeat the challenges posed by today's sophisticated fraudsters."
—Jeffrey Eglash, Senior Counsel, Litigation & Legal Policy, GE
"Biegelman and Bartow's book offers expert guidance to anyone tasked with understanding and tackling fraud in the workplace. Their straightforward approach informs the reader and provides a roadmap and guidance for implementation of an effective fraud mechanism within any organization—small or large. I plan to provide a copy of the book to my board of directors and executive members of management."
—Lisanne E. S. Cottington, Compliance Officer, Insight Enterprises, Inc.
"Business leaders would be wise to follow the recommendations in this book. Fraud prevention is more than just creating a set of policies. As the subtitle indicates, it is essential to create a culture of compliance. Empty words accomplish nothing. The authors, both experienced fraud examiners, have spent decades investigating fraud, as well as developing strategies to prevent it. This book is an essential tool in creating an anti-fraud environment in any company."
—James D. Ratley, CFE, President & CEO, Association of Certified Fraud Examiners
"Biegelman and Bartow's Executive Roadmap to Fraud Prevention and Internal Control is an essential guide for all who have an interest in eradicating corporate or institutional fraud. The new Second Edition is an indispensable addition to the libraries of internal compliance and legal officers and forensic accountants."
—Joel M. Cohen, Partner, Gibson, Dunn & Crutcher; former New York federal prosecutor and liaison to the French Ministry of Justice and OECD
"This new edition is extremely timely. These authors have used their extensive corporate and government experience to create a practical and easy-to-understand compliance guide. A superb resource for any executive."
—Karen Popp, Partner, Sidley Austin LLP, and former federal prosecutor and Associate Counsel to President Clinton
"Martin Biegelman and Joel Bartow convert their lifelong experiences and unparalleled knowledge into a concise, well-written book. They provide the essential tools to take aspirational goals for fraud prevention and compliance and build them into concrete and effective programs."
—From the Foreword by Bradley J. Bondi, Partner, Cadwalader, Wickersham & Taft LLP
"Biegelman and Bartow provide great insight into not just how fraud occurs inside of companies, but why. Preventing fraud requires a solid understanding of both, making this book a must-read for any executive who is serious about creating the compliance mechanisms and the corporate culture needed for effective fraud prevention."
—Aaron G. Murphy, Partner, Latham & Watkins LLP
Synopsis
How-to, authoritative guidance for creating a best-in-class fraud prevention and compliance program in any organizationNow in a Second Edition, this practical book helps corporate executives and managers understand the full ramifications of good corporate governance and compliance. It covers best practices for establishing a unit to protect the financial integrity of a business; theories and models on how and why fraud occurs in an organization; importance of strong internal controls; major compliance and corporate governance initiatives and milestones since 1985; and more. Complete coverage includes implementation guidance for a robust fraud prevention and compliance program, including sample policies, best practice examples, and a 14-point management antifraud program.
- Covers fraud risk assessment and prevention guidance
- Looks at global risk issues, including the Foreign Corrupt Practices Act (FCPA) and UK Bribery Act
- Examines amendments to the Federal Sentencing Guidelines for Organizational Crime
- Discusses Dodd-Frank Whistleblower Provisions
- Explores enterprise risk management key program elements
- Offers coverage of how fraud and compliance failures contributed to the financial crisis
- Includes enhanced principles for fraud data mining
- Presents new cases, checklists and real-world examples, expanded international coverage, and the latest technological tools
- Shows executives and managers what their responsibilities are regarding fraud prevention, internal controls, and compliance
- Provides an instructor's website, including a test bank
- Other titles by Biegelman: Building a World-Class Compliance Program and Foreign Corrupt Practices Act Compliance Guidebook
Completely revised and updated, Executive Roadmap to Fraud Prevention and Internal Control, Second Edition is every manager's best resource for understanding all the complex issues and responsibilities associated with fraud and compliance.
Synopsis
As long as there is human deception and naiveté, there will be fraud. Beyond the financial devastation to the balance sheet is fraud's enduring impact to a disgraced organization's reputation. In Executive Roadmap to Fraud Prevention and Internal Control, Second Edition, you'll learn how to develop a best-in-class fraud prevention and internal control compliance program that will ensure effective regulatory compliance in your organization as well as substantial savings from fraud losses, government prosecutions, and shareholder litigation.
Authors Martin Biegelman and Joel Bartow share their combined sixty-plus years of experience in both the public and private sectors detecting and investigating fraud and white-collar crime to provide you with a thorough understanding of the principles of fraud examination and state-of-the-art compliance programs. Now in a thoroughly updated second edition, Executive Roadmap to Fraud Prevention and Internal Control covers the most recent corporate fraud laws, crimes, and events.
Written for corporate executives and managers who understand the importance and ramifications of good corporate governance, ethics and compliance, Executive Roadmap to Fraud Prevention and Internal Control explores:
The major compliance and corporate governance initiatives from 19852011
A 14-point program your business can use to proactively prevent fraud
ACFE Fraud Prevention Check-Up to test how vulnerable your organization is to fraud
Best practices for hotlines and whistleblower protection
Fraud Triangle and other theories and models explaining how and why fraud occurs
How the government investigates and prosecutes corporate fraud
Interviews with former fraudsters
Key steps in designing a robust fraud prevention program
Role of the Sarbanes-Oxley Act in reducing corporate fraud
Enterprise Risk Management
Global fraud and corruption risk
The Foreign Corrupt Practices Act (FCPA)
Updates to the Federal Sentencing Guidelines for Organizational Crime
The impact of the financial crisis and "Too Big To Fail" policy
Case studies of corporate frauds including Enron, WorldCom, Tyco, Computer Associates, and Satyam
Technology trends and tools to protect organizations
Lessons your business can apply now and in the future to prevent fraud
Executive Insights throughout the book detail case studies, while an Executive Summary in each chapter condenses the key points. In addition, there are sample policies, real-world examples, an instructor's URL (including a test bank to aid in course adoptions), checklists, and best practices.
Simply reacting to fraud issues is no longer acceptable. Stop fraud in its tracks today with the field-tested, proactive methods found in Executive Roadmap to Fraud Prevention and Internal Control, Second Edition.
Synopsis
Now in a Second Edition, this practical book helps corporate executives and managers how to set up a comprehensive and effective fraud prevention program in any organization. Completely revised with new cases and examples, the book also discusses new global issues around the Foreign Corrupt Practices Act (FCPA). Additionally, it covers best practices for establishing a unit to protect the financial integrity of a business, among other subjects. The book has many checklists and real-world examples to aid in implementation and an instructor's URL including a test bank to aid in course adoptions.
About the Author
Martin T. Biegelman, CFE, CCEP, has been fighting fraud and corruption for more than thirty-five years in various roles in law enforcement, consulting, and the corporate sector. He is currently a Director in the Global Investigations and Compliance Practice at Navigant Consulting. He previously served as Director of Financial Integrity at Microsoft Corporation.
Joel T. Bartow, CFE, CPP, is Operations Director for IntegriGuard, LLC. Mr. Bartow has over twenty-five years of experience in fraud and security investigations as an FBI Special Agent and in the private sector, where he developed successful fraud prevention programs.
Table of Contents
Foreword to the Second Edition xiii
Foreword to the First Edition xvii
Preface xxi
Acknowledgments xxvii
CHAPTER 1 Fraud’s Feeding Frenzy 1
CHAPTER 2 Fraud Theory and Prevention 23
CHAPTER 3 The Path to Greater Corporate Compliance, Accountability, and Ethical Conduct: COSO to Sarbanes-Oxley 47
CHAPTER 4 The Path to Greater Corporate Compliance, Accountability, and Ethical Conduct: SAS 99 to the 2010 Amendments to the Federal Sentencing Guidelines for Organizations 81
CHAPTER 5 Internal Controls and Antifraud Programs 105
CHAPTER 6 Financial Statement Fraud 133
CHAPTER 7 Internal Fraud: Protecting a Company 157
CHAPTER 8 Former Fraudster and New Man 171
CHAPTER 9 External Schemes and Scams: The Rest of the Fraud Story 185
CHAPTER 10 Not Too Big to Fail 205
CHAPTER 11 Designing a Robust Fraud Prevention Program 231
CHAPTER 12 Whistleblowers and Hotlines 255
CHAPTER 13 Time to Do Background Checks 287
CHAPTER 14 Training, Training, and More Training 307
CHAPTER 15 Global Fraud and Corruption Risk 329
CHAPTER 16 The Feds Are Watching: What to Know and Do Now 349
CHAPTER 17 A Fraud Prevention Culture That Works 371
APPENDIX ACFE Fraud Prevention Checklist 391
About the Authors 395
Index 399