Fraud in Accounts Payable How to
Prevent It
By Mary S. Schaeffer
According to the author “fraud and murder have a lot
in common. …There are three factors for identifying the murderer: means,
motive and opportunity. Alas, the same is true for fraud.” Every
organization, big or small, is vulnerable and should therefore take
appropriate action to detect and prevent fraud. The book identifies
where accounts payable fraud can happen in organizations. It covers
check fraud, procurement fraud, travel and entertainment fraud, petty
cash, vendor and invoice fraud and payroll. Each section provides an
overview of the area, how to detect and prevent frauds in that area,
common schemes, real life examples and concluding thoughts. The author
has significant experience in this area and offers compelling best
practices to detect and prevent fraud from occurring within your
organization. While it would be nice to think we could eliminate fraud
occurrences the best we can do is institute the necessary checks and
balances that will minimize risk. This book goes a long way to get your
organization thinking and acting to detect and prevent fraud.