In recent years, many accounting fraud have shaken investor confidence in the reliability of financial reports. The number of instances of fraud in financial reporting and failure of audit certificates to the discovery of fraud is shocking and disheartening. The solution to this menace is definitely in the fight against fraud, that this book, named "fraud prevention guides" is all about.
It is written by Waheed Aremu, which has more than 10 years experience in anti-fraud activities, much of which was acquired from the statutory audit and the banking subsector. Aremu holds a degree in accounting at the Obafemi Awolowo University, Ile-Ife, Osun State and Master of Business Administration from the University of Ilorin, Kwara State. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN); a member of the Association of Certified Fraud Examiners (ACFE), the United States and the Chartered Institute of bankers of Nigeria (CIBN).
This author says that fraud is a threat to the modern business and economic prosperity. He educates many large fiscal attended financial scandals due to unethical conduct top-level officials in organizations. Aremu stresses that fraud also has systemic effects on the global economy, ensuring that this book is written to offer fraud prevention strategies. He says that no one is born to be fraudulent; pretty slip people gradually fraud often unknowingly due to their ignorance of what fraud entails.
This text has nine start going as far as the structure. Chapter one is labeled "Introduction to fraud". This author's words here, "fraud is a growing phenomenon in all societies today, and the threat of fraud is a reality that confronts every nation. The table appears adequate attention is not given to this threat. Challenges are compounded by the fact that frauds are perpetrated in secret and many fraud may remain undiscovered and could never be discovered, although some schools do not believe even if no fraud may remain hidden in the long run. "
Aremu emphasizes that reports of fraud and Kanta of their people of perpetrating aback. He says that fraudsters are ordinary people who just take advantage of loopholes has the system. The author adds that it is also interesting to note that fraud experiences indicate that the perpetrators cut through various shades of human effort. Aremu affirms that this situation brings to the fore, III for organizations proactively manage fraud risks, create a roadmap for effective implementation of anti-fraud programs and establish criteria for remediation to minimize the impact. This accountant which slowly Erode investment and employment fraud and has negative impact on brand image or corporate reputation illuminates.
He educates who there is not universally from the definition of fraud, however, adding that fraud is not an abstract concept because it is an idea that exists in real life, so that we can identify when it is exposed.
Chapter two is based on subject matter to overcome the challenges of fraud. Here, Aremu explains that the challenges of fraud are by no means small in any environment. In modern organizations, the challenges of fraud the manifest in various forms and these challenges must be appreciated in order to overcome them. "An organization faces the challenges of fraud by corporate organizations that in some cases the law enforcement and regulatory agencies may be unable to control," argues this author. He reveals that corporate fraud perpetrated by employees are dishonest that defy all the control measures for the fight against fraud to commit their crimes.
For him, "laws and regulations provide controls over fraud and other crimes because they contain sanctions to control the excesses of the company. Similarly, procedures and organizational policies have penalties and rewards. In some cases the experience is that opportunities are created for fraudsters because they obey the letter and not the spirit of the law or cases policy can be .... "
Start At 3-5, Aremu examines the concepts of fraud prevention of understanding; effective fraud prevention framework and corporate jobs.
Chapter six is entitled "One of the main stakeholders." This author states that the task of ensuring the success of the labour collective society Here and every stakeholder has stated that to play in achieving this objective. Aremu suggests that the Board of Directors has the ultimate responsibility for implementing it he organization. He says: "the external auditor has the responsibility not to be part of a financial statement does not reflect a true and fair view of the underlying accounting records ...."
In the beginning going seven to nine, this author x-rays analytically the concepts of ethics; compliance; and ethics and compliance program.
Animal symbolism to illustrate the categories and the fraud risk quadrant constitutes part of the stylistic creativity of this book. A quadrant of low impact and low frequency is identified as rabbits. Second quadrant of high impact, low probability is represented by bears. The third quadrant of low impact but high probability is dogs, while high-impact and high-probability is represented by snakes.
The title of the text is short the assertive table. Aremu makes abundant use of graphics to visually expand the scope of understanding of readers. The cover design is simple graphically communicate non-verbally table. The language is simple, while the ideas are presented clearly.
A mistake is noticed on the outside back cover: "... has over a decade of experience on monitoring activities and for the fight against fraud, many of which have been acquired ..." rather than "... has over a decade of experience in auditing and anti-fraud, much of which has been acquired ..." This and other minor ones III to be corrected in the next edition.
This text is a masterpiece conceptually. It is a compendium of effective solutions for the multiplicity of fraud permeates our society today, especially the business world. This book is highly recommended to auditors, corporate organizations and managers of national economies. Is fantastic.
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G?KE ILESANMI, editor-in-Chief/CEO http://www.gokeilesanmi.com/and Managing Consultant/CEO of Gokmar Communications Consulting, certified public speaker/Emcee, Communications Specialist (Business), Motivational Speaker, career management coach, renowned literary critic, main business expert and editorial consultant.