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.

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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.

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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.

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Illustrating Fraud Action Statements Using the Payroll Function

Dec 16, 2022 7:39:28 AM / by Leonard W. Vona posted in Fraud Risk Statements, Fraud Auditing, ...

 

In this blog, we're looking at how to write a fraud action statement using the payroll function as a way to understand the starting process for a fraud audit.

But first, here are the answers for the trivia from the last blog:

1. What was the biggest corporate lawsuit settlement? $206 billion, paid by the nation’s four largest tobacco companies.

 2. Excluding the tobacco lawsuit, what is the aggregate dollar value of the next 10 large corporate settlements? $88 billion dollars.

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Fraud Data Analytics: Eight Critical Steps to Building Your Search Routines

Apr 18, 2019 8:29:16 AM / by Leonard W. Vona posted in Fraud Data Analytics, Fraud Risk Statements, ...

 

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Uncovering Fraud Using Fraud Data Analytics: Part 3 + 4

Mar 26, 2019 4:55:40 PM / by Leonard W. Vona posted in Fraud Data Analytics, Fraud Risk Statements, ...

Fraud Analytics: Planning considerations

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Uncovering Fraud Using Fraud Data Analytics: Part 1

Dec 1, 2018 7:45:04 AM / by Leonard W. Vona posted in Fraud Data Analytics, Fraud Risk Statements, ...

This blog is the first in a series of seven to explain how to perform fraud data analytics. It introduces a ten-step approach along with explaining the concept of fraud auditing.

For years, auditors, myself included, would launch a fraud detection project by getting the data and playing with the data. At least that was the expression. We hoped to trip across a fraud scheme.  We had no specific plan, just a simple goal: Find fraud. We did not know what we were looking for, but we were looking. Eventually, we hoped to find something. But, those days are over.

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Complex Fraud Scheme: Vendor Overbilling Part 2

Aug 6, 2018 9:47:00 AM / by Leonard W. Vona posted in Fraud Data Analytics, Fraud Risk Statements, ...

This is part two of a blog post series examining a worked exampled using fraud data analytics on a complex fraud scheme.

In this post we will look at how to use fraud data analytics designed to uncover the complex fraud scheme and the fraud audit procedures designed to provide creditable evidence that the scheme is being perpetrated by the budget owner.

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Fraud Data Analytics: A Worked Example for Ghost Employee Fraud Schemes

Jul 12, 2018 12:38:00 PM / by Leonard W. Vona posted in Fraud Data Analytics, Fraud Schemes, ...

Ghost employee schemes are a common fraud scheme during which there are people on the payroll who don’t work for the company in question but do collect a salary or remuneration.

Let’s take a closer look at how you can use fraud data analytics when creating an executing an audit program for ghost employees:

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Fraud Data Analytics for Shell Companies: A Worked Example

Jun 7, 2018 12:17:00 PM / by Leonard W. Vona posted in Fraud Data Analytics, Fraud Definitions, ...

Shell companies are a common fraud scheme you might come across when carrying out a fraud audit. Let’s take a look at how you can implement fraud data analytics into your audit when approaching shell company schemes in particular as a worked example.

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