Small Change, Big Problems: Detecting and Preventing Financial Misconduct in Your Library (review)

This practical guide to various aspects of fraud begins by inviting a second look at what some observe as a small issue, library financial misconduct, which the author argues has not been taken seriously enough. The scope of the book is broad, from common financial control weakness to thoughtful and tested approaches to public relations management if fraud is suspected. The final thoughts of the book conclude with managing risk after assessing what is at stake.

The book's focus is geared in many ways to public libraries, their directors, and board members. Although the examples in the book are predominantly about public libraries, often small public libraries, there is valuable information for broader audiences including academic libraries. Good advice for all libraries includes "red flags" and what steps to take if you suspect a crime.

Snyder's description of the conditions for fraud may be intuitive to many but is nicely presented, covering need or pressure, rationalization, and opportunity. The section on internal controls is less relevant to large organizations that have internal audit units and other mandated controls in place. However, implementing internal controls where none exist is critical for independent, smaller organizations. Still, understanding internal control principles is important for all directors and for all with financial responsibilities. Although the book is centrally focused on money, there are some references to loss of assets, such as equipment or special collections. The latter two are of significant importance to academic libraries, especially special collections, and are best addressed more fully with other resources. In addition, sections that have wide relevance include specific types of fraud and how it occurs, how to detect and uncover fraud, prevention, and dealing with fraud.

Author Herbert Snyder has a solid background to write this book. Among his credentials he is a certified fraud examiner and wrote a column for LA&M, which was the original basis for the book. Clearly an expert in fraud, he sprinkles the book with references to important works in the field.