Fraud Auditing, Detection, and Prevention Blog

A Vulnerability Assessment Approach to Fraud Auditing

Jun 12, 2022 7:43:27 PM / by Leonard W. Vona posted in Fraud Auditing, Fraud Detection, ...

Last Month's Trivia answers

What are the 10 most common sources of food fraud? Hint: Identify the food item.

According to scientists, the most common sources of food fraud are olive oil, milk, honey, saffron, orange juice, apple juice, grape wine, vanilla extract, and fish. Think about that the next time you go to the grocery store!

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A Different Way to Think About Fraud Risk Management

May 23, 2022 8:24:28 AM / by Leonard W. Vona posted in Fraud Auditing, Concealment Strategies, ...

On which day of the year are online dates most vulnerable to fraud schemes?

Valentine’s day -- the heart wants what the heart wants! Does this make us vulnerable?

In the USA alone, romance swindles cost how many millions of dollars in one year?

Romance frauds resulted in losses of over $300 million in the US in 2021.

How does the sophistication of fraud concealment, apply to online dating fraud?

The romance scammer uses techniques to make you believe that their love for you is real. Fraudsters, also use techniques to make fraudulent transactions look real!

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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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