“Crime is inherently dramatic. And since fraud is a crime, writing about the subject of fraud should not be mundane nor monotonous but rather riveting, exciting and informative. Tracy Coenen, in her new book Expert Fraud Investigation: A Step by Step Guide, may be the first to actually capture why the topic of fraud is not only exciting but also informative, thought provoking and most importantly a subject that no one can afford to not thoroughly understand. In an environment of fraud on Wall Street and on Main Street, this book literally levels the playing field by equipping everyone who wants to avoid becoming a future fraud victim. In times like these, this is a must read.”
—Barry Minkow, Co-Founder Fraud Discovery Institute
“This book should be required reading for anyone who is thinking about or is about to start on their fraud examiners career. She doesn’t talk down to the reader but lays out in clear concise points that must be considered before starting ones own firm as well as a fraud investigation. This is where Tracy’s experience and knowledge about fraud shine through.
She continuously establishes credibility with the season fraud examiner by being subtle yet informative with her own opinion which is based on years of practical experience. It is evident this book is not written by a college professor looking for tenure at a University. Instead it appears to be written by a seasoned professional with years of experience. I would strongly recommend it to the experienced fraud professional as well as it contains information needed throughout ones career.”
—David Bleser, President, Bleser & Associates, LLC
“Ms. Coenen’s book should be on every accounting and financial manager’s bookshelf. When you suspect fraud, call an expert. But this book explains the who, what, where, and why of financial frauds and the techniques professionals like Ms. Coenen use to help you investigate and prosecute it.”
—Francine McKenna, President,
McKenna Partners LLC and Author of the blog,
re: The Auditors
“Through an examination of common types of frauds and discussion of ‘best practice’ methods to identify fraud, this book provides excellent practical guidance on how to conduct a fraud examination. Such guidance is a valuable resource to auditors and security professionals involved in fraud examinations. I highly recommend this book to auditors, security professionals, management and board of directors who desire a practical, not theoretical, understanding of fraud examinations.”
—Michael D. Akers, PhD, CFE, CPA, Professor and Chair,
Department of Accounting-Marquette University,
Charles T. Horngren Professor of Accounting
Copyright © 2009 by John Wiley & Sons, Inc. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
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Library of Congress Cataloging-in-Publication Data:
Coenen, Tracy, 1972-
Expert fraud investigation : a step-by-step guide / Tracy L. Coenen.
p. cm.
Includes index.
eISBN : 978-0-470-44784-0
1. Fraud. 2. Investigations. I. Title.
HV6691.C54 2009
363.25’963-dc22
2008040311
.
For Grandma & Grandpa
Fraud investigation is a field that has gotten plenty of publicity since the big public company frauds uncovered in the early 2000s. Despite the media coverage and overall greater awareness of the issue, there are few books to date that have led readers through the process of conducting a fraud investigation. Expert Fraud Investigation: A Step-by-Step Guide changes all of that. It is the first book to really make the leap from theoretical discussion of fraud investigations to the actual nuts and bolts of performing an investigation.
This book is no substitute for real-world experience under the direction of a highly qualified forensic accountant or fraud investigator, but it is a tool to help professionals learn about fraud investigations. This guide takes the professional through the process of opening an investigation, selecting a team, gathering data, and the entire investigation.
It discusses the most common types of fraud cases, and points out some of the best methods for analyzing the books and records to search for proof of fraud. Business executives, auditors, and security professionals will benefit from this book, and companies should find this a useful tool for fighting fraud within their own organizations.
The basis for this book is more than a decade of fraud investigation experience, with cases ranging from those at small family-owned companies to large publicly traded corporations. Formal and informal training have helped refine my fraud investigation skills and add to my repertoire of techniques to ferret out fraud.
Thank you again to everyone at Wiley who has helped make writing this book easier than I ever imagined. You allow me the creative freedom to write according to my vision, and for that, I can’t thank you enough. It is an honor to be associated with such professionals.
I again thank my family, friends, and business associates, who support and encourage me each day. Special thanks goes out to Max, who makes each day worth living. You are the best!