Managing Fraud Risk: A Practical Guide for Directors and Managers

Concepts And Focus

This is a business book about occupational fraud. Specifically, it is a practical guide, an instruction manual showing the various methods and techniques available to directors and managers to prevent, deter, detect and investigate fraud within an organisation. It provides strategic guidance and also more tactical assistance in terms of the most effective anti-fraud controls, the ones that have been shown to work best in practice to reduce the risks. There is no one methodology that is guaranteed to be “fraud-proof”. Every business situation is unique, so that for every organisation there will be a specific approach that is better suited and more efficient than all the others.

So, this is a practical book, designed to raise awareness of internal fraud and to provide a variety of different options on how to manage it, always with the emphasis on taking a proportionate, risk-based approach. It is not a traditional book about fraud. It does not go into the threats posed by outsiders, whether they are computer hackers or members of organised crime gangs, in any great detail. Nor does it concentrate on the legal and regulatory side as it applies to fraud or have as its prime focus how to investigate fraud. Whilst these areas all receive some attention in the book, I am coming at this problem primarily from a practical business angle, not from an investigatory angle. The book's main concentration is on how organisations can best prevent, deter and detect fraud – the ...