This book provides a user-friendly guide to current and emerging issues in fraud both internal to the company, and external. It explains the terminology used and sets out the chief risks which management accountants need to be aware of. It then sets out a practical framework for the management and mitigation of fraud risk. This is followed up by an explanation of what to do in the event of concerns that a fraud has been perpetrated, is underway or is being attempted. The book also guides the reader through the process of dealing with the law enforcement authorities in the event of an investigation. The book is for all those accountants who are not professionals in risk management or investigation procedures, but who need to be aware of the issues, many of which will impact on their area of responsibility; it therefore aims to give them a user-friendly manual to the issue of fraud risk. In addition the book will provide a valuable update on emerging trends in the fraud environment. The author is a financial services and regulatory consultant with extensive experience in fraud risk management. She is also Manager, Corporate Governance for an international life company, and an examiner and moderator who lectures and writes extensively on a wide range of compliance and financial services matters.
The book is in three sections: Section 1: What is fraud? What are the emerging trends in fraud at present? Section 2: what risks may you encounter in your business, and what fraud management systems should you have in place? Section 3: post-event fraud management ? what to do when your concerns are aroused that a fraud has taken place or is being attempted?
- makes accountants aware of different types of fraud risk
- explains practical issues including post-fraud event management
- The author, a financial and regulatory consultant, offers her extensive experience in fraud risk management
What are the emerging trends in fraud at present?; Legal definitions of, and the law relating to, fraud; Different types of fraud; Some current analytical methods in fraud risk management; risks may you encounter in your business, fraud management systems should you have in place; Internal frauds External frauds; Information, Network and Internet Security; what the non-IT professional needs to know; post-event fraud management; what to do when your concerns are aroused; Immediate steps; securing the materials: The investigation: who should conduct it and who should be informed/involved?; Investigative techniques; Dealing with external parties;Dealing with insurers; Dealing with regulators; Dealing with the Law Enforcement Authorities; Fraud and regulated entities: senior management responsibilities; The aftermath of a fraud; The Law relating to evidence and the investigation of fraud
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- © CIMA Publishing 2007
- 13th November 2007
- CIMA Publishing
- eBook ISBN:
- Paperback ISBN:
Catherine is Group Compliance Officer for Maitland (www.maitlandgroup.com) and also an Associate Lecturer in Financial Services at the Isle of Man College of Further Education. Prior to her current position she was Head of Legal, Compliance and Risk – Global Fund Services, Bank of Bermuda (Isle of Man) Ltd. She has been in the financial services industry for 20 years. She has also held positions as Manager, Marketing and Product Development for an international financial services provider, and was a Policy Adviser to the Isle of Man Government Financial Supervision Commission specialising in the development of the regulatory framework for collective investment schemes. She is a Fellow of the Chartered Institute of Bankers, a Member of the Securities Institute, a Member of the Society of Financial Advisers and an Associate of the Life Insurance Association by Diploma.She lectures internationally on subjects including fund management, regulation and compliance, insider dealing, investor protection regimes, and mortgage lending, and is Associate Lecturer, Financial Services at the Isle of Man College of Further Education. She has been engaged by the Africa Centre for Investment Analysis to deliver a 3-day course in November 2003 covering Insider Dealing Regimes, Investor Protection Regimes and International Funds.
Group Compliance Officer, Maitland, UK