Essays on Fraud Resistance and Detection Case Study

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The paper “ Fraud Resistance and Detection” is an intriguing example of a finance & accounting case study. Fraud is a real risk that as evidenced in the recent past, millions of dollars in cash and in stocks have been lost in fraud scams in both local and international organizations. Fraud is the activity within a social setting that has severe repercussions for the economy, firms, and individuals. The author describes fraud as the opportunistic infection that comes forth when greed meets the opportunity for deception. Albrecht et al. (2011) describes fraud as theft through deception.

According to Wells (2011), fraud examination provides a basis for information that is vital in designing fraud prevention programs and strategies. This informs this report that examines varied case studies related to fraud and answering questions thereof. Case Study 1 from chapter 7 of the text (Abrecht et al. , 2012, pp. 229-230)More often, examining fraud requires the fraud examiner to not only be vigilant but also, maintain a low profile to ensure that prior to reporting suspicion of fraud; they have sufficient evidence to support their claims. To ensure that those involved in the fraudulent activities do not get a chance to cover up their scam and erase any evidence trails leading to them hence, making the fraud examination results inconclusive in the long run (Vona, 2011).

For the case study, following the red flags which are the spikes in the number of requests made in Ford’ s account, as an agent with the Federal Bureau of investigations, I should ensure that the information that I already have remains confidential and that no one, not even the management are aware of the investigations.

Since one can never be sure who is involved since those who carry out fraud have profiles that are not dissimilar from other people. This will involve establishing from where the account requests are being made, and identifying a trend or pattern since fraudsters just like serial killers tend to have patterns in carrying out their crimes.

References

Albrecht, W.S. Albrecht, C.C., Albrecht, C.O., & Zimbelman, M.F. (2011). Fraud Examination. London: Cengage Learning.

Albrecht, W.S., Albrecht, C.C. & Albrecht, C.O. (2004). Fraud and corporate executives: Agency, stewardship, and broken trust. Journal of Forensic Accounting, 109-130

Cohen, F. (2005). Frauds, Spies, And Lies: And How to Defeat Them. Singapore: Fred Cohen & Associates.

Hall, J.A. (2010). Accounting Information Systems. London: Cengage Learning.

Pedneault, S., Rudewicz, F., Sheetz, M., & Silverstone, H. (2012). Forensic Accounting and Fraud Investigation for Non-Experts. New York: John Wiley & Sons.

Rezaee, Z., & Riley, R. (2009). Financial Statement Fraud: Prevention and Detection. New York: John Wiley and Sons.

Samocuik, M., Nigellyer, & Doody, H. (2010). A short guide to fraud risk: fraud resistance and detection. London: Gower Publishing, Ltd.

Silverstone, H. & Davia, H.R. (2005). Fraud 101: Techniques and Strategies for Detection. Sidney: John Wiley & Sons.

Singleton, T.W., & Singleton, A.J. (2010). Fraud Auditing and Forensic Accounting. Sidney: John Wiley and Sons.

Vona, L.W. (2011). The Fraud Audit: Responding to the Risk of Fraud in Core Business Systems. New York: John Wiley and Sons.

Wells, J.T. (2011). Corporate Fraud Handbook: Prevention and Detection. New York: John Wiley & Sons.

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