Authored by a team of seasoned professionals from Ernst & Young’s Fraud Investigation and Dispute Services (FIDS) Practice, the guide delivers practical, actionable guidance on fraud investigations from the discovery phase through resolution and remediation.

              

“The decade’s high-profile scandals, with the Bernard Madoff Ponzi scheme being the most recent, underscore exactly how critical it is for CPAs and the business owners, controllers and managers they advise to understand what to do when fraud hits, how a fraud investigation works, and how to avoid problems during the investigation,” said Arleen Thomas, AICPA senior vice president – member competency and development. “This book provides a very clear framework.”

 

Thomas added that a June report by the Federal Bureau of Investigation, in which the FBI disclosed that it had opened more than 100 new cases involving corrupt business practices in the previous 18 months, emphasizes the need for the new guidance.

 

Ernst & Young Principal Ruby Sharma, the main editor and a contributing author, notes the book, which collects the knowledge of 18 firm contributors, took over two years to develop. 

 

“This book is the result of many professionals’ hard work and draws upon their extensive experience,” she said. “This book is for forensic accountants, litigation attorneys, corporate boards and management, audit committees, students of accounting and anybody interested in understanding the risk of fraud and its multiple implications."

 

In 14 chapters arranged to track the time sequence of an investigation and all anchored to a central case study, The Guide to Investigating Business Fraud answers four basic questions:

 

In addition to Sharma, the editors are Michael H. Sherrod, senior manager, Richard Corgel, executive director; and Steven J. Kuzma, Americas Fraud Investigation and Dispute Services chief operating officer.

           

The Guide to Investigating Business Fraud is available from CPA2Biz (www.cpa2biz.com).  The cost is $79 for AICPA members and $98.75 for non-members.