Corporate Resiliency : Managing the Growing Risk of Fraud and Corruption

Corporate Resiliency by authors Bishop and Hydoski is very well done. The book is easy to read and provides a wealth of information, especially for those who are navigating the anti-fraud environment for the first time. Managers, executives, board and audit committee members as well as experienced internal and external auditors will find the information and suggestions helpful and practical. As an experienced professional working in the field, I identified new ideas and unique ways of looking at the world. Like it or not, anti-fraud efforts are here to stay and many are saddled with this responsibility for the first time. Thought leaders Toby bishop and Frank Hydoski deserve credit for attacking the issues head-on in a thoughtful manner. I would highly recommend this book.

Praise for Corporate Resiliency: Managing the Growing Risk of Fraud and Corruption

"Fraud and corruption have been with us forever, but happily there is growing realization that these crimes undermine trust in government, companies, and markets alike. Toby Bishop and Frank Hydoski do not just recognize that problem, but clearly set out ways and means for dealing with it."
—Paul A. Volcker, former Federal Reserve Chairman and chairman of the President's Economic Recovery Advisory Board

"At a time of rising public demand for good corporate conduct, Corporate Resiliency is a welcome resource for those seeking to manage fraud and corruption risks. Toby Bishop and Frank Hydoski provide a highly operational road map for assessing risk and preventing, detecting, and responding to fraud and corruption when it does occur."
—Nancy Zucker Boswell, President and CEO, Transparency International - USA

"If you need a view of fraud and corruption from the top, this is your book. Bishop and Hydoski do an excellent job of explaining to executives why fraud and corruption are such serious issues for organizations, how we got where we are, and how to prevent and detect the devastating fallout from these crimes. A terrific read."
—Joseph T. Wells, CFE, CPA, founder and chairman, Association of Certified Fraud Examiners

"Corporate Resiliency offers managers and directors a holistic approach to the management of fraud and corruption risk that speaks to the same measure of productivity and profitability used in more conventional business processes. It walks the reader through the relationship among the board of directors, the audit committee, senior management, and staff in the process of fraud risk management, with a clear eye toward the intent and direction of fast-changing legislation and regulatory guidance."
— From the Foreword by Mark G. Califano, Esq., Head of Litigation, GE Capital Finance

In today's global economy, fraud and corruption can more easily set off a chain of events resulting in serious financial and reputational loss. Corporate Resiliency reveals why resiliency in your company is not only just as crucial as innovation, customer-centricity, and competitiveness—it may be vital to your company's success.

This book evaluates the growing risks of fraud and corruption in our increasingly global marketplace and then provides guidance on how to implement a plan that will work for your organization. It evaluates prevention techniques such as Governance Risk and Compliance (GRC), Risk Intelligence and Enterprise Risk Management (ERM), and Six Sigma. Then it describes the various technological and accounting tools that are can be employed to execute the chosen strategy (Data Mining/Data Analytics, Continuous monitoring, Continuous auditing, and psychological testing). Finally, the key roles and responsibilities are outlines to make implementation successful as well as some forward-looking insight on what the future challenges will be in the fraud/corruption arena Corporate Resiliency: Managing the Growing Risk of Fraud and Corruption is written for members of boards of directors and audit committees, senior executives, those who advise or report to them, and those responsible for managing fraud and corruption risks. It describes in plain English terms a proactive fraud and corruption risk management process that can enhance corporate resiliency. The authors provide practical insights and highlight traps to avoid. Quotes from their interviews of business executives provide international perspectives regarding changes in fraud and corruption risks and techniques companies are adopting to deal with them. Can we eliminate fraud and corruption? The growing risk of fraud and corruption The costs of fraud and corruption Building a resilient corporation Fraud and corruption risk assessment Company-wide measures : the role of the control environment and other strategies Preventive controls : particular fraud and corruption risk management strategies & tactics Preparing for fraud and corruption investigations and remediation. Argues that while the twenty-first century global economy brings cheaper sources of supply and huge new markets, it also exposes companies to much greater risks. Makes a business case for a proactive fraud and corruption risk management process that can enhance corporate resiliency