Books & Manuals

Financial Statement Fraud: Strategies for Detection and Investigation

By Gerard Zack, CFE, CPA, CIA; Foreword by Dr. Joseph T. Wells, CFE, CPA

This book’s author is a CFE

Image of green colored shredded documents with the title Financial Statement Fraud
Financial Statement Fraud Strategies for Detection and Investigation


Research shows that financial statement fraud is the least frequently encountered fraud, but by far the most costly, resulting in a median loss of $1 million per case. Yet, the indirect losses from financial statement fraud – jobs, support, morale and loyalty – are also significant and almost impossible to measure. Learn how to spot the warning signs before the damage is done. This book explores the many different methods of perpetrating financial statement fraud, the accounting principles that are exploited, and the methods to detect and prevent fraud in any organization.

"Financial Statement Fraud": 

  • Describes major and emerging type of financial statement frauds, using real-life cases to illustrate the schemes
  • Explains the underlying accounting principles, citing both U.S. GAAP and IFRS that are violated when fraud is perpetrated
  • Provides numerous ratios, red flags and other techniques useful in detecting financial statement fraud schemes
  • Includes an accompanying website that provides full-text copies of documents filed in connection with the cases that are cited as examples in the book, allowing the reader to explore details of each case further

Product Details

This book's author is a CFE.
Label Value
ISBN 978-1-118-30155-5
Publisher John Wiley & Sons
Published Copyright 2012
Pages 288
Format Hardcover

Table of Contents

Chapter 1 Introduction to Revenue-Based Financial Reporting Fraud Schemes
Chapter 2 Timing Schemes
Chapter 3 Fictitious and Inflated Revenue
Chapter 4 Misclassification Schemes
Chapter 5 Gross-Up Schemes
Chapter 6 Improper Capitalization Costs
Chapter 7 Asset Valuation Schemes
Chapter 8 Fair Value Accounting
Chapter 9 Shifting Expenses to Future Periods
Chapter 10 Omissions and Underreporting of Liabilities
Chapter 11 Consolidations and Business Combinations
Chapter 12 Financial Reporting Fraud as a Concealment Tool
Chapter 13 Financial Statement Fraud by Not-for-Profit Organizations
Chapter 14 Disclosure Fraud
Chapter 15 Detecting Financial Statement Fraud
Chapter 16 Financial Statement Analysis
Chapter 17 Ratio Analysis
Chapter 18 Other Detection Procedures
Chapter 19 Fraud or Honest Mistake?
Chapter 20 Assessing (or Minimizing) Auditor Liability

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