We're continuing with my thought process of looking behind curtains in fraud risk, but with a slight change. This time, we're looking behind a new curtain.
Fraud Auditing, Detection, and Prevention Blog
Where are the Fraud Risk Professional Standards?
Nov 15, 2024 2:49:05 PM / by Leonard W. Vona posted in Fraud Risk Statements, Fraud Risk Identification, ...
What’s Behind the Internal Control Curtain? Is it a Fraud Story?
Jul 22, 2024 2:49:59 PM / by Leonard W. Vona posted in Fraud Schemes ...
This month, we're pulling back the curtain again to take a look at a look at what could be going on even when everything seems to be fine on the surface. We'll consider what can happen despite the appearance of effective internal controls and how to uncover it.
Fraud Audit Insights: Revealing The Fraud Story
May 20, 2024 2:05:54 PM / by Leonard W. Vona posted in Fraud Schemes, Fraud Auditing, ...
My last series of blogs discussed strategies for detecting shell companies. I know they work because I have refined the strategies throughout my career. Now we will discuss what causes those strategies to fail.
What are the inhibitors to the successful use of artificial intelligence in fraud detection? Humans.
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.
Understanding the People in a Fraud Risk Statement
Oct 17, 2022 7:22:28 PM / by Leonard W. Vona posted in Fraud Risk Statements, Fraud Schemes, ...
The answers to last month's trivia and the setup to this month's topic on the people behind the fraud
What industry was Equity Funding in? Insurance.
What fraud risk statement occurred in Equity Funding? False Revenue to a false customer.
How did the fraud become known? A whistleblower, who most likely was part of the cover-up at one time.
How many employees participated in the cover-up? Over 100!
Is it true that the auditors went to jail? Yes. Apparently, the jurors thought that negligence in performing an audit is as serious as participation in fraud.
How to Use the Red Flag Concept in Fraud Auditing
Feb 21, 2022 8:00:33 AM / by Leonard W. Vona posted in Fraud Risk Statements, Fraud Schemes, ...
Last month’s trivia questions and answers
Which country offers an on-line fraud quiz to test their citizen's awareness to fraud?
Canada: If your country offers such a quiz, please let me know.
What was the first recorded fraud?
The first recorded fraud scheme is from 300 B.C. in Greece.
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?
Does Fraud Mitigation Work in Real Life the Way the Auditing Profession Believes?
Nov 17, 2021 9:07:46 AM / by Leonard W. Vona posted in Fraud Schemes, Fraud Auditing, ...
Before we start this month’s blog, last month’s fraud trivia questions and answers.
What was the original name of the ACFE? NACFE
What was the original name of the ACFE monthly newsletter? White Paper
Is there a designation, Life Time CFE? Yes, it was issued once in the early years
What is your favorite Fraud Movie? This is always a tough question, but here is a few: Catch Me if You Can; The Wolf of Wall Street; Wizard of Lies, and of course, The Accountant.
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.
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.