As the United States economy continues to falter, one common question is whether the difficult economic conditions will cause more fraud.
Articles by Expert Tracy Coenen
The cost to implement some basic fraud prevention initiatives in a company can be small, especially when it’s compared to the amount of money that could be lost to fraud.
Just a little break from fraud to clue readers in on the Alternative Minimum Tax (AMT) provision in last week’s bailout bill.
If an employee is willing to commit theft via expense reports, he or she might be inclined to commit fraud against the company in other ways.
While the immediate gathering of information is helpful to a fraud investigator, when an inexperienced person tries to go further and actually investigate, bad things can happen.
Sarbanes-Oxley is thought by many as the answer to fraud, but my experience shows something different. Sarbanes-Oxley was intended to restore faith in the integrity of corporations and executives, yet it hasn’t really had a measurable impact on fraud.
The process of completing a full fraud investigation could fill a book, but there are a few generalities that apply to most investigations.
Good management of the investigation involves ensuring the integrity of documentation and properly supervising staff and consultants.
Once the decision is made to go forward with a full fraud investigation, an team of qualified professionals must be assembled. Some may come from within company, while others might more appropriately be outside consultants and investigators.
An investigative policy is an important tool to help manage the process of initiating a corporate fraud investigation. Doing so will help bring uniformity to the evaluation of fraud allegations, and it will help guide management through the decision making relative to the claims.