Fraud 101: Techniques and Strategies for Understanding Fraud by Stephen Pedneault clearly explained many fraud schemes and especially explained the financial statement fraud and employee embezzlement fraud. The case studies make the book enjoyable to read and easy to understand the basis of fraud.
I’m especially like the strategy Stephen explained in the book which starts with prevention before fraud detection and fraud investigation. He also emphasizes before beginning any fraud investigation, we need to:
“Procedures can also be performed proactively within high Fraud risk areas, or areas susceptible to fraudulent activity, even no fraud indicators are present. “
"Data is platform" -Tom O'Reilly
“The IT revolution is evident all around us, but the emphasis has mostly been on the T, the technology. It is time to recast our gaze to focus on the I, the information.”
In short, we can use data from the "know world" to make informed reference about the "unknown world."
Data is merely the raw material of knowledge. - New York Times
“Recognize that your own motivation, ambition, and talents will determine your success more than the college name on your diploma.”