Fraud Auditing, Detection, and Prevention Blog

Making Audit the Number One Reason for Fraud Detection

Jan 12, 2022 2:38:55 PM / by Leonard W. Vona posted in Insider, Fraud Auditing, ...

Last month’s trivia questions and answers...

What is the full name of the person who first perpetrated the Ponzi scheme?

Despite the notoriety of Charles Ponzi, the scheme that carries his name, it was first perpetrated by Sarah Howe in Boston in 1879.

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What a Fraud Auditor Can Learn from Food Fraud

Dec 16, 2021 7:51:52 PM / by Leonard W. Vona posted in Fraud Schemes, Fraud Auditing, ...

Last month’s trivia questions and answers

In the movie “The Accountant”, as the protagonist solves the financial statement fraud scheme, what real life financial statement fraud did the Accountant sketch out on the glass walls of the conference room?

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How to Write a Fraud Audit Finding

Oct 19, 2021 10:06:56 AM / by Leonard W. Vona posted in Fraud Risk Statements, Fraud Auditing, ...

First, trivia questions and answers from last month’s blog:

What was the original name for the FBI?

Answer: B.O.I. Bureau of Investigation

What professions did J. Edgar Hoover like to hire for FBI agents?

Answer: Lawyers, reporters, and accountants

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How to Document Your Fraud Audit Scope

Aug 23, 2021 7:36:54 AM / by Leonard W. Vona posted in Fraud Schemes, Fraud Auditing, ...

After a series of thought-provoking blogs, I thought it was time to write a practice blog. I hope you find it helpful in your next audit.

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What Does it Take to be a Fraud Auditor?

Jul 21, 2021 7:58:08 AM / by Leonard W. Vona posted in Fraud Schemes, Fraud Auditing, ...

So, you want to be a fraud auditor?

I have been practicing as a fraud auditor for over forty years. To be honest, for the first twenty, I did not know I was a fraud auditor. I spent the next twenty refining the practice of fraud auditing. So, this blog is intended to provide you the necessary skill set to become a fraud auditor.

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Discover the Power of Fraud Knowledge

Jun 16, 2021 6:10:25 PM / by Leonard W. Vona posted in Fraud Schemes, Fraud Auditing, ...

Professional Skepticism: The Power of Fraud Knowledge

In June 2021, I will be speaking at the ACFE virtual conference on the Power of Fraud Knowledge. When I speak at a conference, my process is to select a topic, prepare the presentation, and then prepare to communicate the presentation. To do a good presentation, one should never simply read the slides but rather explain them, illustrate the concepts, explain practical applications, and maintain the audience’s interest. So, why am I telling you this?

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Fraud Risk Assessment: Folly or Prudence?

Feb 22, 2021 1:15:00 PM / by Leonard W. Vona posted in Fraud Auditing, Fraud Detection, ...

Before we start on this journey, I need to explain the premise of my blog. I want to explore whether there is business value in an organization incurring the cost of preparing a comprehensive fraud risk assessment.

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What is High Fraud Risk? A Different Perspective

Jan 19, 2021 9:51:44 AM / by Leonard W. Vona posted in Fraud Auditing, Fraud Detection, ...

There is an urgent question that I don’t think has been asked often enough: Is the conventional professional view of fraud risk broad enough to protect companies from both monetary and non-monetary impact associated with internal fraud?

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Think like a thief. Does this really work for Fraud Auditing?

Dec 14, 2020 10:26:12 AM / by Leonard W. Vona posted in Fraud Auditing, Fraud Detection, ...

There’s a notion in fraud auditing that the auditor should “think like a thief.” I am going to go out on a ledge and raise the question: Is the idea of thinking like a thief a silly suggestion? I ask you, were raised to think like a thief? Did your parents compliment you on your lying skills? Did your teachers praise you on your ability to cheat on a test? Do you and your associates discuss how to steal from your employer at the lunch table? Certainly, the answer is no!

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Making Audit Number One in Fraud Detection

Nov 16, 2020 12:18:00 PM / by Leonard W. Vona posted in Fraud Auditing, Fraud Detection, ...

Professional Skepticism… How we can become number one in fraud detection?

If audit desires to be the number one reason for fraud detection, then what does our profession need to do? This blog is written for auditors who desire the audit profession to be the number one reason for fraud detection. I will challenge our current beliefs and methodologies, not to say they are right or wrong but to cause you to think. After all, a key component of professional skepticism is a questioning mind.

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