Financial Statement Fraud and Detection Strategies

by Sikander Sultan FCA

This book is about getting a grip on understanding, detecting and preventing the Financial statement fraud techniques. It has been designed to give SME-Medium size Senior Executives a step by step detailed approach on addressing the matter of financial statement fraud strategically. The landscape of finance has changed a great deal in the recent times, and in this book, we have tried to explain the most common methods of the financial statement fraud techniques, its detection, implication and prevention practices.

Financial statement fraud is one of the most complicated fraud types and can have a direct financial impact on the businesses and Senior Executives, as well as harming the investors' confidence in the markets. This book is a practical guide on the different fraud techniques that are used by the perpetrators and the detection guidance for these schemes.

Financial Statement Fraud and Detection Strategies describes the most common and emerging type of financial statement frauds, using the real-life cases to illustrate these schemes.

The book explains the underlying accounting principles, citing both IFRS and US GAAP that are violated when the fraud is perpetrated. It provides numerous red flags, ratios and other techniques in detecting the financial statement fraud schemes

The book provides comprehensive coverage of various ways in which the financial statement fraud is perpetrated, including those that capitalise on the most recent accounting standards developments, such as fair value issues and revenue recognition.

The benefits of this course book are as follows:

• The book enables the business executives, business advisors, financial analysts and investors to identify the Financial Statement Fraud and make the business decisions accordingly
• Use ratios to analyse Financial Statement Fraud
• Apply the fundamental concepts and tools in detecting and preventing the Financial Statement Fraud
• Evaluate the corporate governance structure of the firms and examine the interactions, from the governance perspective, between firm management, audit process, and stakeholders
• Explain the global Financial Statement Fraud and Detection Strategies, and the suggested corporate governance process experienced by the multinational corporations


This book adopts a structured presentation style, delivering the concept of the Financial Statement Fraud detection and prevention strategies in a easy to follow through structured approach. Technical terms are introduced and defined in the referencing style, which is used consistently throughout the chapters. No prior accounting experience or background should be assumed of the reader.


The following areas will be covered in this course book:

1. Classifications of fraud
2. Types of Fraud
3. Why Fraud is committed
4. Understanding the Financial Statement Fraud
5. Various Financial Statement Fraud schemes
6. Earning Management Techniques
7. Fraudulent Accounting Techniques
8. Revenue Recognition Techniques
9. Asset Valuation Techniques
10. Expense and Liablities Techniques
11. Time Lapsing Techniques
12. Cut off Techniques
13. Improper Disclosures
14. The proposed steps to detect and prevent fraud


TARGETED USERS

• Business Executive and Board Member
• SME and Medium size company’s Director and Senior Management
• Business Advisors and Management Consultants
• Finance and Investment professionals
• Business Investors
• Fraud detection team
• Intern

254 pages, Kindle Edition

Published June 19, 2018

About the author

Sikander Sultan is an experienced Business Adviser by profession and an Author with 400 plus multi-award winning books and courses (topics including productivity, business gowth, career development and memorisation).

He regularly researches into various industries and subjects to take the success concepts from the unrelated industries and adopts them to clients' specific business; resulting in business performance enhancement, and maximising and multiplying of business assets. All of his books and courses are the products of his dedicated research.

For nearly twenty years now (!!), he has been making sharing productivity tips, motivation, business improvement, career development, energy flow and memory enhancement.

In his words, "At the end of the day, all I hope to do is to help make life just that little bit more fun and productive so that we can get where we all need to go...".

In Business, he has experience in Assurance, Advisory, Strategic Growth, Corporate Tax Saving, Accounting, Technology, Marketing, Regulatory and Legal issues affecting the IT, High Tech, Real Estate, Construction, E-Commerce, E-Learning, Energy, Management Consulting, Defence and Government Infrastructure sectors.

He has gained extensive management experience in Ernst & Young and KPMG London; where he regularly advised IT start-ups, FTSE listed blue chip Corporates, Private Equity businesses, Funds, SPVs, Venture Capitalists and high profile clients.

He is a Tech Savvy and passionate in designing algorithms to tackle complex global business platform problems using the 'future technologies today'. He has a very rare ability to immediately grasp the business processes, implications, correlations, applications, opportunities, innovation and vulnerabilities in any given situation.

He is an 'Archaeologist of Growth' as he is dedicated to growing businesses, advancing careers, and multiplying bottom lines exponentially. He is also a qualified ICAEW Chartered Accountant, an MBA, #1 Best Selling Author and an honest trustworthy human being.