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Recent news stories have clearly established that there are increasing instances of cyber-crime that are plaguing major corporations and financial institutions. These crimes have taken many forms, suc
Recent news stories have clearly established that there are increasing instances of cyber-crime that are plaguing major corporations and financial institutions. These crimes have taken many forms, such as:
- External parties infiltrating corporate Information Technology systems to steal customer information;
- Unauthorized parties stealing and using patents and other protected information;
- Corporate management falsifying documents and altering internal systems to steal funds from both corporations and customers; and
- Internal corporate fraudsters establishing inappropriate processes to obtain vital information.
Each of these events caused the financial statements of the affected corporations to change in multiple ways, providing evidence that fraudulent activities may have occurred. What methods (or processes) should these corporations establish to identify potential cyber-crime concerns? Cite examples of corporations that have taken additional steps and describe such steps.
Chapters 1 & 2 in Fraud Examination
Association of Certified Fraud Examiners. (2017). CFE code of professional standards. Retrieved from http://www.acfe.com/standards.aspx
Association of Certified Fraud Examiners. (2018). Report to the nations: 2018 global study on occupational fraud and abuse. Retrieved from https://www.acfe.com/report-to-the-nations/2018/
Carmichael, D. R. (2018). Audit versus fraud examination: What's the real difference? The CPA Journal, 88(2), 48-53.
Association of Certified Fraud Examiners. (2017). CFE code of professional standards interpretation and guidance. Retrieved from http://www.acfe.com/uploadedFiles/ACFE_Website/Content/documents/Guidance-Professional-Standards.pdf
Albrecht, W. S., Albrecht, C. O, Albrecht, C. C., & Zimbelman, M. F. (2019). Fraud examination (6th ed.). Boston, MA: Cengage Learning.
Association of Certified Fraud Examiners (ACFE). (2018). Report to the nations: 2018 global study on occupational fraud and abuse. Retrieved from https://s3-us-west-2.amazonaws.com/acfepublic/2018-report-to-the-nations.pdf
Dorminey, J., Fleming, A. S., Kranacher, M-J., & Riley Jr., R. A. (2012). The evolution of fraud theory. Issues in Accounting Education, 27(2), 555-579.
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Kranacher, M. J., Riley Jr., R. A., & Wells, J. T. (2011). Forensic accounting and fraud examination. Hoboken, NJ: John Wiley & Sons.
PricewaterhouseCoopers. (2018). Pulling fraud out of the shadows. Retrieved from https://www.pwc.com/gx/en/forensics/global-economic-crime-and-fraud-survey-2018.pdf
Wolfe, D. T., & Hermanson, D. R. (2004). The fraud diamond: Considering the four elements of fraud. The CPA Journal. Retrieved from http://digitalcommons.kennesaw.edu/cgi/viewcontent.cgi?article=2546&context=facpub
