ACC425_Module5_Parnham

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Southern New Hampshire University *

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425

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Information Systems

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Apr 3, 2024

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Christine Parnham Module 5: Short Paper Short vs. Long Form Examination Reports A fraud examination report is a critical document that summarizes the findings and outcomes of a thorough investigation into suspected fraudulent activities. These comprehensive reports detail the nature of the fraud (ACFE, 2018). They provide an in-depth analysis of the methods employed, the extent of the fraud, and any potential weaknesses in the internal control systems (ACFE, 2018). Fraud reports are a valuable tool for various stakeholders, including management, legal entities, and law enforcement, offering them a clear and organized presentation of the investigation results (ACFE, 2018). A well-crafted fraud examination report is essential for supporting decision-making, facilitating legal actions, and implementing preventative measures to mitigate future risks (ACFE, 2022). Long-form and short-form reports in the context of fraud investigations serve distinct purposes and cater to different information needs within an organization. A short-form report is a concise document that provides a quick overview of a fraudulent incident, focusing on essential details such as the nature of the fraud, the individuals involved, and immediate actions taken (ACFE, 2018). Short-form reports are valuable for prompt communication and initial response to fraudulent activities, offering a snapshot of the situation (ACFE, 2018). On the other hand, a long-form report is more comprehensive, delving deeply into the investigation process, methods used, extent of the fraud, and potential vulnerabilities (ACFE, 2018). Long-from reports provide a detailed account of the investigative steps taken, offering a thorough understanding of the incident for management, legal teams, and law enforcement (ACFE, 2018).

“Report Writing for Fraud Examiners” by the Associated of Certified Fraud Examiners emphasizes the importance of tailoring the report to the audience’s needs (2018). Short-form reports are beneficial when a quick reference and immediate action are necessary (ACFE, 2018). With their detailed analysis, long-form reports are suitable for stakeholders seeking an in-depth understanding of fraud for legal, regulatory, or strategic decision-making purposes (ACFE, 2018). Short-form and long-form reports should align with the fraud investigation's goals, audience, and context. The components in both short-form and long-form fraud reports serve distinct purposes, collectively contributing to comprehensive and informative documents. The report's introduction typically outlines the investigation's context and purpose, providing a roadmap for readers (ACFE, 2018). The background and scope section sets the stage by detailing the fraud's circumstances, offering essential context for the readers (ACFE, 2018). The methodology sections outline the investigative process, methods used, and data sources, providing transparency and allowing for the replication of the investigation if needed. Findings and analysis constitute a core component, presenting a detailed account of the fraudulent activities, their extent, and potential impacts (ACFE, 2018). The conclusions and recommendations section summarizes key insights, identifies responsible parties, and proposes actions to mitigate future risks (ACFE, 2018). A well-structured report also includes an executive summary, providing a condensed version of the findings for quick understanding (ACFE, 2018). In long-form reports, various additional documents contribute to the report's overall organization, clarity, and professionalism (ACFE, 2018). Memoranda serve as internal communication tools within the investigative team, detailing discussions, decisions, and additional information related to the examination (ACFE, 2018). Exhibits, documents, and

enclosures refer to supporting evidence, such as financial statements, emails, or other relevant materials, that substantiate the findings presenting the report (ACFE, 2018). Properly labelled and organized exhibits enhance the report's credibility and assist stakeholders in understanding the depth of the investigation. Indexes provide a structured guide to the report contents, aiding readers in locating specific information efficiently (ACFE, 2018). The cover page serves as the initial point of contact, presenting essential details such as the title, date, and investigators’ names (ACFE, 2018). A transmittal letter accompanies the report and introduces it to the recipient, summarizing key points and emphasizing the importance of the findings (ACFE, 2018). Looking at both types, there are a few takeaways to remember. The short-form report emphasizes brevity and immediacy, offering a quick overview of the fraud, key details, and immediate actions to be taken (ACFE, 2022). The goal here is to provide a snapshot of the situation. In contrast, the long-form report aims to offer a thorough and detailed account of the investigation (ACFE, 2022). Here, a comprehensive analysis of methods used, the full extent of the fraud, and potential vulnerabilities in the system are discussed. The long-form reports delve heavily into the investigation process, clarifying every point and aspect (ACFE, 2022). Regardless of the style of the report, clarity, objectivity, and relevance are essential (ACFE, 2022).

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References ACFE. (2018, November). Report Writing Manual . Writing Fraud Examination Reports. https://pdf4pro.com/amp/view/report-writing-manual-association-of-certified-fraud- 59b290.html ACFE. (2022, December). Fraud Examiners Manual [PDF].

ACC425_Module5_Parnham

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