{"product_id":"preventing-and-detecting-employee-theft-and-embezzlement-isbn-9780470545713","title":"Preventing and Detecting Employee Theft and Embezzlement","description":"\u003cp\u003e\"If you don't think that some employees have figured out ingenious ways to steal from businesses, read this book. The real-life examples will change your mind.\" —Joseph T. Wells, CFE, CPA, founder and Chairman, Association of Certified Fraud Examiners\u003c\/p\u003e \u003cp\u003e\"An easy-to-read, but comprehensive step-by-step approach that covers every potential area for employee fraud and embezzlement. Great checklists at the end of each chapter show what steps to put into place for controls and protection. Includes real-life examples that really 'bring the story home.' \" —Jean L. Conover, CPA, past CEO\/CFO, Jefferson Radiology PC\u003c\/p\u003e \u003cp\u003e\"This book is a must-read for seasoned entrepreneurs as well as those considering entering their own business venture. While developed for small business, the risk detection and prevention methodologies presented by Mr. Pedneault are universal to all businesses. The concise checklists provide ready guidance for establishing a complete system of controls.\"—Denise H. Armstrong, CPA, Chief Financial Officer, Sea Research Foundation, Inc. d\/b\/a Mystic Aquarium and Institute for Exploration\u003c\/p\u003e \u003cp\u003e\"This book is a must for every individual owning their own business. Mr. Pedneault clearly articulates the fraud risks that occur in each business system. In the book, he offers practical advice for internal controls and illustrates the risks with real-life examples.\"—Leonard W. Vona, President, Fraud Auditing, Inc.\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eIntroduction xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Hiring the Right Employees 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDisclaimer 1\u003c\/p\u003e \u003cp\u003eWhere Do You Start? 1\u003c\/p\u003e \u003cp\u003eAdvice of Counsel 3\u003c\/p\u003e \u003cp\u003eApplication Policy 3\u003c\/p\u003e \u003cp\u003eDue Diligence 5\u003c\/p\u003e \u003cp\u003ePersonal Information 7\u003c\/p\u003e \u003cp\u003ePast Employment 8\u003c\/p\u003e \u003cp\u003eEducation 9\u003c\/p\u003e \u003cp\u003eReferences 11\u003c\/p\u003e \u003cp\u003eCriminal and Civil History Checks 11\u003c\/p\u003e \u003cp\u003eCredit Checks 13\u003c\/p\u003e \u003cp\u003eHiring Time 14\u003c\/p\u003e \u003cp\u003eHiring the Right Employees: Considerations 17\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Know Your Employees 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Is Knowing Your Employees Important? 24\u003c\/p\u003e \u003cp\u003eOpen Communications 25\u003c\/p\u003e \u003cp\u003eWhat Should You Watch for in Your Employees? 26\u003c\/p\u003e \u003cp\u003eKnow Your Employees: Considerations 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Sales, Cash Receipts, and Collections 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHere’s Where Everything Starts 31\u003c\/p\u003e \u003cp\u003eRecording and Tracking Sales 32\u003c\/p\u003e \u003cp\u003eCollections 44\u003c\/p\u003e \u003cp\u003eDebit Memos and Other Adjustments 48\u003c\/p\u003e \u003cp\u003eAccounts Receivable 52\u003c\/p\u003e \u003cp\u003eSales, Cash Receipts, and Collections: Considerations 54\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Credit Card Sales, Transactions, and Merchant Statements 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProcessing Sales 59\u003c\/p\u003e \u003cp\u003eReconciling Sales 61\u003c\/p\u003e \u003cp\u003eProcessing Refunds or Credits 61\u003c\/p\u003e \u003cp\u003eReviewing and Reconciling Refunds or Credits 63\u003c\/p\u003e \u003cp\u003eReviewing and Reconciling the Merchant Statement 67\u003c\/p\u003e \u003cp\u003eCredit Card Sales, Transactions, and Merchant Statements: Considerations 69\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Purchases, Cash Disbursements, Checks, and Petty Cash 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePurchases 75\u003c\/p\u003e \u003cp\u003eCash Disbursements\/Checks 80\u003c\/p\u003e \u003cp\u003eUnpaid Bills\/Accounts Payable 84\u003c\/p\u003e \u003cp\u003ePetty Cash 86\u003c\/p\u003e \u003cp\u003ePurchases, Cash Disbursements, Checks, and Petty Cash: Considerations 88\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Credit Cards and Debit Cards 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCredit Cards 94\u003c\/p\u003e \u003cp\u003eDebit Cards 96\u003c\/p\u003e \u003cp\u003eCredit Cards and Debit Cards: Considerations 99\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Employee Expense Reimbursement 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExpense Submission 104\u003c\/p\u003e \u003cp\u003eWhere Are the Abuses? 106\u003c\/p\u003e \u003cp\u003ePayment Processing 109\u003c\/p\u003e \u003cp\u003eEmployee Expense Reimbursement: Considerations 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 Electronic Banking 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTraditional Banking (In-Person Deposits and Manual Check Writing) 115\u003c\/p\u003e \u003cp\u003eCheck Processing and Clearing Changes 117\u003c\/p\u003e \u003cp\u003eChanges in Bank Deposits 120\u003c\/p\u003e \u003cp\u003eATMs 121\u003c\/p\u003e \u003cp\u003eOnline Banking 122\u003c\/p\u003e \u003cp\u003eWhat Can You Do? 123\u003c\/p\u003e \u003cp\u003eElectronic Banking: Considerations 132\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 Payroll Processing 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePayroll Administration: Adding\/Changing\/Terminating 138\u003c\/p\u003e \u003cp\u003ePayroll Processing 142\u003c\/p\u003e \u003cp\u003ePayroll Tax Returns 149\u003c\/p\u003e \u003cp\u003ePayroll Processing: Considerations 151\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 Inventory Issues and Controls 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrevention: Good News and Bad News 153\u003c\/p\u003e \u003cp\u003eRetail Businesses: Items Available for Sale 153\u003c\/p\u003e \u003cp\u003eAll Businesses: Items for Use by Employees (Supplies, Tools, and Equipment) 166\u003c\/p\u003e \u003cp\u003eDetection 166\u003c\/p\u003e \u003cp\u003eInventory Issues and Controls: Considerations 169\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 Bank Statements, Canceled Checks, and Reconciliations 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBank Statements 177\u003c\/p\u003e \u003cp\u003eInvestment Account Statements 178\u003c\/p\u003e \u003cp\u003eCanceled Checks 178\u003c\/p\u003e \u003cp\u003eBank Reconciliations 181\u003c\/p\u003e \u003cp\u003eBank Statements, Canceled Checks, and Reconciliations: Considerations 187\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 Financial Reports 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGenerate Financial Reports Regularly 190\u003c\/p\u003e \u003cp\u003eWhy Is the Regular Review of Financial Reports So Important? 195\u003c\/p\u003e \u003cp\u003eWhen to Consider Outside Advice and Assistance 196\u003c\/p\u003e \u003cp\u003eFinancial Reports: Considerations 202\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13 Safeguarding Your Bookkeeping or Accounting Systems 205\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eManual Bookkeeping Systems 206\u003c\/p\u003e \u003cp\u003eComputerized Bookkeeping and Accounting Systems 209\u003c\/p\u003e \u003cp\u003eQuickBooks Users 222\u003c\/p\u003e \u003cp\u003eSafeguarding Your Bookkeeping or Accounting Systems: Considerations 224\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 14 Prevention, Detection, and Insurance 227\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTiming Is Everything 229\u003c\/p\u003e \u003cp\u003eAdequacy of Coverage 230\u003c\/p\u003e \u003cp\u003eResponsibilities for a Claim 230\u003c\/p\u003e \u003cp\u003eDisclaimer 235\u003c\/p\u003e \u003cp\u003ePrevention, Detection, and Insurance: Considerations 236\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 15 Your Response to an Identified or Potential Issue 239\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Dreaded Day of Discovery 239\u003c\/p\u003e \u003cp\u003eDue Diligence on the Discovery 243\u003c\/p\u003e \u003cp\u003eWhat If It Appears to Be Fraud? 246\u003c\/p\u003e \u003cp\u003eYour Response to an Identified or Potential Issue: Considerations 249\u003c\/p\u003e \u003cp\u003eAppendix A: Embezzlement Controls for Business Enterprises 253\u003c\/p\u003e \u003cp\u003eAppendix B: Who Was Lester Amos Pratt? 291\u003c\/p\u003e \u003cp\u003eAbout the Author 295\u003c\/p\u003e \u003cp\u003eIndex 297\u003c\/p\u003e \u003cb\u003eSTEPHEN PEDNEAULT, CPA\/CFF, CFE\u003c\/b\u003e, is the founder and Principal of Forensic Accounting Services, LLC, a CPA firm specializing in forensic accounting, employee fraud, and litigation support matters. Steve is the author of \u003ci\u003eFraud 101: Techniques and Strategies for Understanding Fraud and Anatomy of a Fraud Investigation,\u003c\/i\u003e and a contributor to \u003ci\u003eFraud Casebook: Lessons from the Bad Side of Business,\u003c\/i\u003e all published by Wiley. Steve has also written numerous articles appearing in local and national media, and is a frequent speaker on the subjects of employee embezzlement and forensic accounting. For more information about Stephen Pedneault, go to www.forensicaccountingservices.com.  You're a busy business owner. You don't have time to think about whether or not any of your employees may be stealing from you or embezzling from your business. Or . . . do you?  \u003cp\u003eBased on author Stephen Pedneault's experience of over twenty years working with clients and counsel in a wide range of employment-related issues—many stemming from some type of theft or embezzlement of assets, money, proprietary information, or all three—\u003ci\u003ePreventing and Detecting Employee Theft and Embezzlement: A Practical Guide\u003c\/i\u003e is the readable, useful resource that will help you better protect your business.\u003c\/p\u003e \u003cp\u003eFrom implementing prudent hiring policies and practices through collecting receipts, making deposits, writing checks, paying employees, and evaluating the adequacy of insurance coverage, this essential book covers the major financial areas commonly found in most small businesses, and provides you with easy steps to follow in preventing and detecting embezzlement.\u003c\/p\u003e \u003cp\u003eWith checklists at the end of each chapter so you can literally start protecting your business right away, this practical guide takes a closer look at:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eWhy you would be wise to perform independent due diligence on a potential employee—even if they are referred by someone else\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe truth about contacting past employers when checking on a candidate—why it's not much help\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eWhat you must do in the hiring process to better protect yourself and your business\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eHow to know and monitor your existing employees\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eIf you are a business owner—even if your business is very small—and you don't want to get burned by employee theft or embezzlement of any kind, \u003ci\u003ePreventing and Detecting Employee Theft and Embezzlement\u003c\/i\u003e is the practical guide you want to keep by your side. Its shorter chapters, checklists, and cases are specifically designed to work with your busy schedule, to make prevention and detection of employee theft a more effortless reality in your business.\u003c\/p\u003e  \u003cp\u003e\"If you don't think that some employees have figured out ingenious ways to steal from businesses, read this book. The real-life examples will change your mind.\" —Joseph T. Wells, CFE, CPA, founder and Chairman, Association of Certified Fraud Examiners\u003c\/p\u003e \u003cp\u003e\"An easy-to-read, but comprehensive step-by-step approach that covers every potential area for employee fraud and embezzlement. Great checklists at the end of each chapter show what steps to put into place for controls and protection. Includes real-life examples that really 'bring the story home.' \" —Jean L. Conover, CPA, past CEO\/CFO, Jefferson Radiology PC\u003c\/p\u003e \u003cp\u003e\"This book is a must-read for seasoned entrepreneurs as well as those considering entering their own business venture. While developed for small business, the risk detection and prevention methodologies presented by Mr. Pedneault are universal to all businesses. The concise checklists provide ready guidance for establishing a complete system of controls.\"—Denise H. Armstrong, CPA, Chief Financial Officer, Sea Research Foundation, Inc. d\/b\/a Mystic Aquarium and Institute for Exploration\u003c\/p\u003e \u003cp\u003e\"This book is a must for every individual owning their own business. Mr. Pedneault clearly articulates the fraud risks that occur in each business system. In the book, he offers practical advice for internal controls and illustrates the risks with real-life examples.\"—Leonard W. Vona, President, Fraud Auditing, Inc.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989846704357,"sku":"NP9780470545713","price":65.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470545713.jpg?v=1761785654","url":"https:\/\/k12savings.com\/es\/products\/preventing-and-detecting-employee-theft-and-embezzlement-isbn-9780470545713","provider":"K12savings","version":"1.0","type":"link"}