Financial Investigation and Forensic Accounting, Second Edition

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  • Provides RICO net worth schedules, tax net worth schedules, gross profit analysis schedules, and more, in dozens of concise tables
  • Includes a new chapter on computer fraud
  • Updates new laws following events of September 11th
  • Lists sources for off-shore banking information by country
  • Summary

    In recent years, the law enforcement community has become more aware of “white collar” crime, yet has lacked the training for combating these criminals. Meanwhile, accountants are witnessing a rise in financial crime, but are not accustomed to examining for fraud during their audits. It has become imperative for students training for law enforcement and accounting careers to expand their knowledge and expertise to include both legal and financial aspects of economic crime.

    Written by a retired IRS agent with more than twenty years of experience, Financial Investigation and Forensic Accounting, Second Edition offers a thorough examination of current methods and legal concerns for the detection and prosecution of economic crime. The text guides readers through the process, from detection to indictment and conviction. It explains the mechanics of gambling, fraud, and money laundering, and then illustrates how prosecutors present the tax codes, offshore banking laws, and the RICO statutes to judges and juries. This updated edition provides additional focus on locating terrorist funds, related new laws enacted, and computer fraud. Each chapter provides a summary along with applicable outlines.

    The increasing corrupt state of business makes it essential to recognize financial crime at an early stage and follow the proper procedures for prosecution. This practical textbook provides students with a solid understanding of fraud examination and forensic accounting that they will need throughout their careers. 

    Table of Contents

    Economics of Crime
    Financial Crimes
    Offshore Activities
    Net Worth Theory
    Expenditure Theory
    Scenario Case Problem
    RICO Net Worth Solution
    Tax Net Worth Solution
    RICO Expenditure Solution
    Tax Expenditure Solution
    Organized Crime
    Trial Preparation & Testimony

    Accounting & Audit Techniques

    Sources of Information
    Fraud Prevention For Consumers
    Fraud Prevention For Business
    Money Laundering

    Banking and Finance

    Reports and Case Files
    Audit Programs
    Seizures and Forfeitures
    Judicial System
    Physical Security
    Search Warrants
    Computer Crimes
    Fraud Examiner   
    Suggested Reading
    Appendix A – Federal Reserve Districts
    Appendix B – Money Laundering Acronyms
    Appendix C – Internet Sources of Information
    Appendix D – Country Internet Codes
    Appendix E – Glossary of Common Internet Terms