Synopsis Accountancy as a profession has been witnessing changes in ethical values. From a culture of conservatism in the 1980s and aggressiveness in the 1990s, it led to big time frauds. In 2002, there were several accounting scams. This book analyzes how accounting frauds are perpetrated and which processes, structures, controls and culture could deter them from recurring. It highlights the rise of forensic accounting and auditing as the fourth most popular niche and discusses the role of internal audit and internal control systems to prevent or detect accounting frauds early and plug loopholes in the system. It also presents some infamous accounting scams and describes how they were uncovered.