An essential guide for practitioners on avoiding unethical situations in a fraud investigation-provides tips, techniques, and real-life examples
Credentialed accountants, auditors, and fraud examiners who fail to identify fraud and misconduct may be in violation of their professional standards. Among these standards are requirements to exercise professional and moral judgment, act in the best interest of the public, maintain integrity, objectivity, and independence, render opinions based on evidence and documentation, and exercise due care in planning and discharging professional activities. Failing to adhere to professional standards and ethical codes have serious consequences for CPAs, CFEs, and CIAs engaged in fraud investigations. Fraud helps readers avoid unethical situations in fraud investigations and stay within the boundaries of professional guidelines and standards.
Author Jeffrey Matthews combines real-world techniques and practical advice with personal insights from his experience as a forensic accountant. Detailing how he faced death threats, retaliation, and family hardships during actual fraud investigations, the author shares how despite serious challenges, he never deviated from professional standards. The author demonstrates how accountants can avoid being caught in unethical practices and examines the common tendencies that hinder the ability to detect, deter, and prevent fraud and misconduct. This fascinating, highly-relevant book will help practitioners:
- Recognize current and emerging trends to identify new areas of weakness
- Address time and budget constraints with effective delegation and supervision of lower-level staff
- Maintain a healthy dose of skepticism by 'testing not accepting'
- Understand the effort and expertise required to perform an investigation before accepting engagements
- Avoid establishing biases and pre-determining outcomes before accepting assignments
A full-featured resource, complete with PowerPoint slides and a test bank, Fraud is invaluable for auditors, accountants, and other certified fraud examiners.
Holding Accountants Accountable offers a detailed review of Jeffrey Matthews' remarkable (and often hair-raising) journey as a forensic accountant and contains hard-won, practical advice to help accountants avoid being caught in unethical practices. During the course of his career, Matthews faced death threats, retaliation, and family hardships while working on various fraud investigations. While challenged on many occasions, he never deviated from upholding professional standards.
Holding Accountant Accountable is filled with real-life stories that clearly illustrate the common tendencies that so often hinder an accountant's ability to detect, deter, and prevent fraud and misconduct that could violate the standards and ethics of the accounting profession. Drawing on his years of experience, Matthews explains how accountants can avoid being subject to unethical and fraudulent practices, such as:
Forgetting the Present: Many practitioners feel it could never happen to them or to their clients. Professionals must stay on top of emerging trends to identify new areas of weakness.
Relying on Others: A work environment that is not conducive to collaboration, relies on inexperienced staff, and/or combined with an over-extended supervisor with limited time (or budget) can lead to a disaster.
Accepting Not Testing: Practitioners must maintain a healthy dose of skepticism in discharging their duties.
Underestimating the Effort and Qualifications: Often practitioners are presented with assignments but have little time, budget, or direction. Some firms push examiners to accept engagements they are not fully qualified to perform.
Determining the Outcome Prior to Performing the Assignment: Examiners can become close to their clients and establish biases. Sometimes, the examiner may not realize there is a bias at all.
In addition to the author's many colorful examples, Matthews clarifies his points by including the standards from the American Institute of Certified Public Accountants, the Association of Certified Fraud Examiners, and the Institute of Internal Auditors.
Written for accountants that want to maintain the highest ethical standards of their profession, Holding Accountants Accountable is a readable resource written by an acclaimed accountant, lecturer, and college professor.
