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Synopsis
"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."
—From Fraud in Accounts Payable
It's an undeniable fact of corporate life—fraud happensa?'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 goala?'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 employees—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 department—before it eats away at the bottom line.