Fraud: “Elementary, My Dear Watson”

The founder and chairman of the Association of Certified Fraud Examiners, Joseph Wells, wrote an insightful series, The Fraud Beat, for the JofA on the basics of fraud investigation in small businesses. “Sherlock Holmes, CPA,” ( www.aicpa.org/pubs/jofa/aug2003/wells.htm and www.aicpa.org/pubs/jofa/sep2003/wells.htm ) explains what it takes to gather evidence, interview witnesses and obtain a confession. In this two-part article Wells draws upon his years of experience to provide useful techniques and tools to neophyte fraud investigators by providing an example of a common purchasing fraud scheme and the steps that should be taken when conducting a fraud examination.

— Patrice Schiano, CPA, consultant, Protiviti, New York