The Fraud Prevention Pyramid
PRACTITIONER PUBLICATION AWARD WINNER While the audience for scholarly journals is typically other academics, practitioner journals, on the other hand, are written specifically for people working in that field. Papers in practitioner journals often have actionable best practices that can support professionals immediately. This section features the award given by the Coles College to faculty who publish high-quality work in practitioner journals.
Strategic Finance, March 11, 2024
Douglas M. Boyle Dana Hermanson
Accountants often pressure to act unethically. Dana Hermanson worked with Coles DBA alumnus Doug Boyle to develop “The Fraud Prevention Pyramid,” a five-level framework designed to help accountants build increasing levels of personal anti-fraud competence that will protect them from pressures and incentives to act unethically (https://www. sfmagazine.com/articles/2024/ march/the-fraud-prevention- pyramid). The pyramid focuses on (1) developing fraud awareness and acumen, (2) understanding fraud
ingredients, (3) avoiding common fraud pitfalls, (4) mitigating dark triad traits and pressure, and (5) mastering emotional intelligence. For each level of the pyramid, the authors synthesize core messages and identify relevant resources for interested readers. Building anti-fraud defenses before facing pressure is critical to avoiding trouble. The article was recognized as the Institute of Management Accountants 2024 Strategic Finance Curt Verschoor Ethics
Feature of the Year. In addition, the authors participated in an Institute of Management Accountants podcast, “The Fraud Prevention Pyramid Explained,” to discuss the Pyramid and its elements (https:// podcast.imanet.org/264). After the article was published, Herman- son reorganized and updated his undergraduate course, Fraud and Forensic Accounting, to adopt the Fraud Prevention Pyramid as the organizing framework for much of the course.
Accountants often pressure to act unethically. The authors developed the Fraud Prevention Pyramid, a five-level anti-fraud framework. For each level, the authors offer core messages and relevant resources. Building anti-fraud defenses before facing pressure is critical to avoiding trouble.
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