Fraud Auditing, Detection, and Prevention Blog

Mastering Shell Company Detection: Is Their Credible Evidence to Perform a Forensic Exam?

Dec 12, 2023 9:49:22 AM / by Leonard W. Vona posted in Fraud Auditing, Fraud Based Approach, ...

 

In this series of blogs, we are looking at the practice of using a fraud audit to detect shell company schemes occurring in an accounts payable file. Because the practice of effective fraud auditing is grounded in knowledge, we will start with a knowledge section and then delve into a demonstration of the fraud audit process.

Read More

Mastering Shell Company Detection: Practical Steps for Fraud Auditors: Part 5

Nov 15, 2023 12:14:12 PM / by Leonard W. Vona posted in Fraud Risk Statements, Fraud Schemes, ...

In this series of blogs, we are looking at the practice of using a fraud audit to detect shell company schemes occurring in an accounts payable file. Because the practice of effective fraud auditing is grounded in knowledge, we will start with a knowledge section and then delve into a demonstration of the fraud audit process.

Read More

Mastering Shell Company Detection: Practical Steps for Fraud Auditors: Part 4

Oct 16, 2023 9:18:00 PM / by Leonard W. Vona posted in Fraud Auditing, Fraud Based Approach, ...

 

In this series of blogs, we are looking at the practice of using a fraud audit to detect shell company schemes occurring in an accounts payable file. Because the practice of effective fraud auditing is grounded in knowledge, we will start with a knowledge section and then delve into a demonstration of the fraud audit process.

Read More

Mastering Shell Company Detection: Practical Steps for Fraud Auditors Part 3

Sep 16, 2023 7:30:00 AM / by Leonard W. Vona posted in Fraud Auditing, Fraud Based Approach, ...

 

In this series of blogs, we are looking at the practice of using a fraud audit to detect shell company schemes occurring in an accounts payable file. Because the practice of effective fraud auditing is grounded in knowledge, we will start with a knowledge section and then demonstrate the fraud audit process.

Read More

Mastering Shell Company Detection: Practical Steps for Auditors Part 2

Aug 14, 2023 5:32:05 PM / by Leonard W. Vona posted in Fraud Risk Statements, Fraud Auditing, ...

In this series of blogs, we are discussing how auditors can detect shell company schemes that are occurring in their accounts payable files. Because the practice of effective fraud auditing is grounded in knowledge, each blog will have a knowledge section as well as a practical audit section. (This blog will not discuss how organized crime groups use shell companies to perpetrate criminal activities.)

Read More

Using Fraud Auditing to Detect Shell Company Fraud Schemes

Jul 14, 2023 8:20:42 AM / by Leonard W. Vona posted in Fraud Auditing, Concealment Strategies, ...

Using Fraud Auditing to Detect Shell Company Fraud Schemes

The last two blogs were an esoteric discussion on fraud auditing using either a principal-based approach or a rule-based approach. With this blog, we'll launch into the practical use of fraud auditing. By way of example, we will look at how to detect shell company fraud schemes perpetrated against your company. Remember, our goal is to make audit the number one reason for fraud detection.

Read More

Principles or Rules for Fraud Auditing?

Jun 15, 2023 6:39:42 PM / by Leonard W. Vona posted in Fraud Auditing, Payroll Fraud, ...

In accountancy, there are frequent discussions about a principle-based approach to GAAP vs. a rule-based approach. That is an equally valid discussion for fraud auditing. As you read, I hope you will reflect on whether a principle or a rule-based approach would be of more benefit to your organization.

Read More

Establishing Principles to Make Audit the #1 One Reason for Fraud Detection

May 10, 2023 8:11:18 AM / by Leonard W. Vona posted in Fraud Auditing, Fraud Detection, ...

This is the third blog looking at the state of the auditing profession. In the first blog, we looked at what has changed as companies have grown and gone global. Last month we considered the use of words and the significance of precision. And in this blog, we'll delve into principles that form the bases for our work.

Read More

Examining the Words the Audit Profession Uses to Describe Responsibilities

Apr 19, 2023 5:17:13 PM / by Leonard W. Vona posted in Fraud Data Analytics, Fraud Auditing, ...

This is the second of three blogs looking at the state of the auditing profession. In the first blog, we looked at what has changed as companies have grown and gone global. In this article, we’re considering the use of words and the significance of precision.

Read More

The State of the Auditing Profession in 2023 - Part 1

Mar 20, 2023 5:08:11 PM / by Leonard W. Vona posted in forensic accounting, Fraud Auditing, ...

As business systems have grown more complex and moved into a digital world, they’ve created more opportunities not only for fraud but also for uncovering fraud. It is my contention that auditing should be the number one reason for exposing fraud. And that requires a shift in mindset as well as the right techniques.

Read More