Book Review

Vincent J. Love, CPA/CFF, CFE

This book is an outstanding compilation of many types of financial reporting fraud, including an analysis of the underlying schemes and real-life examples to demonstrate their machination and evolution. Throughout the book, Zack uses plain English to explain the relevant standards under U.S. GAAP and IFRS that are ignored or distorted by those committing the fraud. In fact, the book is so well written that even nonaccountants can understand the important elements of the standards. Standards under both accounting frameworks are referenced to their source, allowing readers to delve further into the underlying accounting if they desire to do so. Whenever a standard is being evaluated and could change, whether under GAAP or IFRS, Zack alerts readers of exposure drafts or proposed changes.