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Policies & Procedures to Prevent Fraud and Embezzlement
Book

Policies & Procedures to Prevent Fraud and Embezzlement

Guidance, Internal Controls, and Investigation

Edward J. McMillan
Wiley, 2006

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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

This basic, informative book exactly addresses its title topic. Edward McMillan delivers straightforward advice for companies of all sizes. He also offers individuals advice on avoiding identity theft. McMillan covers everything from case histories to the details of hiring agreements, and how to fire an employee who commits fraud. Each chapter contains recommendations, sample documents, key points and checklists. The book also provides 119 pages of useful sample documents relating to internal controls to help you prevent this widespread, costly crime. getAbstract recommends McMillan’s practical guide to anyone concerned about corporate – and personal – security.

Take-Aways

  • When embezzlers get caught, it is usually by accident.
  • Whistleblowers get credit for catching 30% of fraud, but U.S. law does not protect every whistleblower.
  • Routine audits do not seek fraud. They intend to provide “reasonable assurance” that your books have no misstatements due to irregular activities.

About the Author

Edward J. McMillan, CPA, CAE, is an experienced fraud examiner. He teaches fraud-prevention courses to professional organizations and regularly speaks on this topic.

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