Solution manual for Fraud Examination 3rd Edition by W. Steve Albrecht

Solution manual for Fraud Examination, 3rd Edition by W. Steve Albrecht

Solution manual for Fraud Examination, 3rd Edition by W. Steve Albrecht

Help your students understand the growing significance of fraud in today’s accounting world as the latest edition of this provocative text teaches students how to identify, detect, investigate, and prevent financial fraud. Albrecht/Albrecht/Albrecht/Zimbelman’s FRAUD EXAMINATION, Third Edition, closely examines the nature of fraud using memorable business examples and captivating actual fraud cases drawn from the first-hand experience of well-recognized fraud investigator and forensic accounting expert W. Steve Albrecht and the entire authorship team. Students examine the many types of fraud, including recent developments such as the unique, rapidly increasing e-business fraud. Students see both how technology is increasingly involved in fraud and how it can be used to detect fraud. This edition even addresses legal options for victims of fraud. Significant new discussion of forensic analysis expands students¿ understanding of the field, while a fresh, clean design increases readability and student appeal. New learning features and strong end-of-chapter exercises draw attention to the most important information and drive critical thinking.

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PART 1: INTRODUCTION TO FRAUD

CHAPTER 1: THE NATURE OF FRAUD

Seriousness of the Fraud Problem

What Is Fraud?

Types of Fraud

Criminal and Civil Prosecution of Fraud

How to Prepare to Be a Fraud-Fighting Professional

Fraud-Related Careers

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

CHAPTER 2: WHY PEOPLE COMMIT FRAUD

Who Commits Fraud

The Fraud Triangle

The Element of Pressure

The Element of Opportunity

The Element of Rationalization

Summary of the Fraud Triangle

Fraud Recruitment

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

END NOTES

CHAPTER 3: FIGHTING FRAUD: An Overview

Knowing Different Ways That Organizations Fight Fraud

Fraud Prevention

Fraud Detection

Fraud Investigation

Follow-Up Legal Action

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

PART 2: FRAUD PREVENTION

CHAPTER 4: PREVENTING FRAUD

Just About Everyone Can Be Dishonest

Creating a Culture of Honesty, Openness, and Assistance

Eliminating Opportunities for Fraud to Occur

Preventing Fraud—A Summary

A Comprehensive Approach to Fighting Fraud

Organizations and Fraud— The Current Model

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

PART 3: FRAUD DETECTION

CHAPTER 5: RECOGNIZING THE SYMPTOMS OF FRAUD

Symptoms of Fraud

Accounting Anomalies

Internal Control Weaknesses

Analytical Fraud Symptoms

Extravagant Lifestyles

Unusual Behaviors

Tips and Complaints

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

END NOTES

CHAPTER 6: DATA-DRIVEN FRAUD DETECTION

Anomalies vs. Frauds

The Data Analysis Process

Data Analysis Software

Data Access

Data Analysis Techniques

Real-Time Analysis

Analyzing Financial Statement Reports

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

APPENDIX A: EXAMPLES OF THE DATA-DRIVEN APPROACH

PART 4: FRAUD INVESTIGATION

CHAPTER 7: INVESTIGATING THEFT ACTS

When to Investigate

Theft Act Investigative Methods

A Comprehensive Example of Using Theft Act Investigation Methods

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

CHAPTER 8: INVESTIGATING CONCEALMENT

Concealment Investigative Methods

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

CHAPTER 9: CONVERSION INVESTIGATION METHODS

Conversion Searches

Government Sources of Information

Private Sources of Information

Online Databases

Internet Search

The Net Worth Method

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

CHAPTER 10: INQUIRY METHODS AND FRAUD REPORTS

Interviewing—An Overview

Understanding Reaction to Crisis

Planning an Interview

Mechanics of the Interview

Honesty Testing

The Fraud Report

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

APPENDIX A: SAMPLE SIGNED STATEMENT

APPENDIX B: AN EXAMPLE FRAUD REPORT

PART 5: MANAGEMENT FRAUD

CHAPTER 11: FINANCIAL STATEMENT FRAUD

The Problem of Financial Statement Fraud

A Framework for Detecting Financial Statement Fraud

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

APPENDIX A: RECENT LAWS AND CORPORATE GOVERNANCE CHANGES FOLLOWING THE SARBANES-OXLEY ACT

APPENDIX B: STRATEGIC REASONING IN THE AUDIT SETTING

CHAPTER 12: REVENUE- AND INVENTORY-RELATED FINANCIAL STATEMENT FRAUDS

Revenue-Related Fraud

Inventory and Cost of Goods Sold Frauds

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

APPENDIX A: STRATEGIC REASONING AND DETECTING REVENUE- AND INVENTORY-RELATED FRAUD

CHAPTER 13: LIABILITY, ASSET, AND INADEQUATE DISCLOSURE FRAUDS

Understating Liabilities

Overstatement of Asset Fraud

Inadequate Disclosure Fraud

Other Types of Financial Statement Fraud

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

APPENDIX A: STRATEGIC REASONING AND DETECTING LIABILITY, ASSET, AND INADEQUATE DISCLOSURE FRAUDS

PART 6: OTHER TYPES OF FRAUD

CHAPTER 14: FRAUD AGAINST ORGANIZATIONS

Fraud Statistics

Asset Misappropriations

Corruption

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

CHAPTER 15: CONSUMER FRAUD

Consumer Fraud and Its Seriousness

Identity Theft

Other Types of Consumer and Investment Scams

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

CHAPTER 16: BANKRUPTCY, DIVORCE, AND TAX FRAUD

Overview of Tax, Divorce, and Bankruptcy Frauds

Tax Fraud

Divorce Fraud

Bankruptcy Fraud

Bankruptcy and Divorce Fraud Schemes—The Planned Bankruptcy (Bust-Out)

Fraudulent Concealment of Assets or Income in Bankruptcies or Divorces

Fraudulent Transfers

Civil Liability for False Accusations

Money Laundering

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

END NOTES

APPENDIX A: AFFIDAVIT OF PROPOSED INVESTIGATOR

APPENDIX B: APPLICATION FOR RETENTION OF INVESTIGATOR

CHAPTER 17: FRAUD IN E-COMMERCE

Fraud Risks in E-Commerce

Preventing Fraud in E-Commerce

Detecting E-Business Fraud

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

END NOTES

PART 7: RESOLUTION OF FRAUD

CHAPTER 18: LEGAL FOLLOW-UP

The Court System

Overview of the Civil Litigation Process

Overview of the Criminal Litigation Process

Being an Expert Witness

REVIEW OF THE LEARNING OBJECTIVES

KEY TERMS

QUESTIONS & CASES

SHORT CASES

EXTENSIVE CASES

INTERNET ASSIGNMENTS

DEBATES

END NOTES

APPENDIX: FINANCIAL STATEMENT FRAUD STANDARDS

Auditors’ Responsibility to Detect Financial Statement Fraud: A Brief History

Report of the National Commission on Fraudulent Financial Reporting

Public Oversight Board’s 1993 Special Report

Efforts Related to the Role of Auditors—SAS No. 53

AICPA Board of Director’s 1993 Report

AICPA SEC Practice Section Initiatives

SAS No. 82

Panel on Audit Effectiveness

Statement on Auditing Standards No. 99: Considerations of Fraud in a Financial Statement Audit

COSO’s 1992 Report

The Roles of Management, Boards of Directors, and Audit Committees

Audit Committee Requirements of Major U.S. Stock Exchanges

Public Oversight Board’s 1995 Report

The Independence Standards Board

Public Oversight Board’s Advisory Panel Report

Solution manual for Fraud Examination, 3rd Edition by W. Steve Albrecht