Can the CFO stop white collar crime?

Abstract

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The computer: An essential fraud detection tool

“…There are, however, data analysis programs that feature commands that review records for predetermined "red flags." See Exhibit 1 for examples of applications of these programs (Coderre, 2000;ACFE, 2001;Christensen and Byington, 2002).…”

Don't be a victim of international fraud

“…While there are numerous suggestions on how to prevent fraud (see Christensen and Byington, 2002), the experts agree that the best preventive measure against any type of fraud is a good internal control system. This means that companies must not only establish an effective system of internal control but also evaluate and update it on a continuous basis.…”

Beware expense reimbursement schemes!

“…In general, an effective set of internal controls that are frequently reviewed and updated is the best defense against any type of occupational fraud and abuse (Christensen & Byington, 2002). The internal controls should begin with requiring a detailed expense report that specifies the reason for the expense.…”