Fraud and Corruption Prevention and Identification

By Crawford Robinson

***** Fraud and Corruption Prevention and Identification. By Nigel Iyer and Martin Samociuk; published by Gower Publishing Co., (Web); 220 pages; $114.95.

The various corporate fraud and corruption scandals have spurred a plethora of legislative and regulatory requirements. Their effectiveness is still a subject of much debate. The scope and potentially adverse impact of fraud and corruption on shareholder value is so great that the most prudent of companies know to address it proactively. Other companies do not recognize the risk; it remains a hidden menace not featured on the boardroom agendas.

Nigel Iyer and Martin Samociuk avoid philosophical arguments to provide practical and workable solutions. Both bring to bear their vast experience across Europe, America, and Australia, offering tools and techniques for establishing an effective and far-reaching antifraud and corruption program.

Starting with the familiar, yet often neglected issues of engaging stakeholders and influencing decision-makers, the authors go on to offer simple tips for designing and implementing a practical fraud and corruption prevention/detection program. These range from policy development and recognition of red flags to company profiling, which—depending on the operating environment—can be as simple or as complex as you wish. Up-front methods of prevention and detection, managing incidents, and ultimately creating a resistant organization are followed with real examples and explanation of a self-test method.

In the unlikely event that you find the book a tough read, the authors neatly demonstrate many of the principles in a fictionalized corporate case study. As an entirely separate section, it illustrates the key issues faced in a live situation. Should you wish, you can easily move between the two sections.

This is an articulate, incisive, and practical work for which both authors are to be congratulated. Very often books focused on a narrow topic will only appeal to a narrow readership. This is an exception; it will appeal to anyone responsible for risk management, corporate responsibility, governance, and compliance.

Reviewer: Crawford Robinson is regional security director for Kraft Foods Europe. A former senior investigating officer in a U.K. police service, he has extensive criminal and corporate fraud investigation experience. He is a member of ASIS.

Note: The views expressed in this article are his own and should not be attributed to Kraft Foods Inc.



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