Fraud Audit - Responding to the Risk of Fraud in Core Business Systems

Zusatztext 'Provides tools that can be used by any business.' - Finance & Management Faculty! Sept 2011 Informationen zum Autor LEONARD W. VONA, CPA, CFE, is CEO of Fraud Auditing, Inc., and a world-renowned authority in fraud investigation. He has provided expert witness testimony in federal and state courts; consulted with corporations around the world; and is the author of Fraud Risk Assessment: Building a Fraud Audit Program, published by Wiley. A financial investigator with more than thirty years of diversified auditing and forensic accounting experience, including a distinguished eighteen-year private industry career, he regularly speaks at audit conferences and developed the Fraud Training Curriculum for the MIS Training Institute, an internationally recognized audit training organization. Klappentext THE FRAUD AUDIT Responding to the Risk of Fraud in Core Business Systems Offering the guidance, strategy, and tools you need to respond to the very real, ongoing risk of fraud, The Fraud Audit presents a proactive, preventive response to fraud rather than a reactive approach after damage has been done. Revealing how to keep fraud at bay through the Awareness Theory Methodology (ATM)?a vigorous fraud audit framework that will help you and your staff understand the how, why, and where of fraud?this book helps you identify fraudulent transactions that warrant an investigation. Author Leonard Vona draws on his extensive experience as a financial investigation expert to provide invaluable insight on recognizing fraud scenario potentials from among the millions of transactions in your business's systems. Whether you are an accountant, auditor, or a fraud examiner, this timely book explains how to gather information in identifying fraud risks, assessing those risks, and responding aggressively to them. With an emphasis on fraud occurring within your business's core systems?including procurement, disbursement, payroll, financial statement reporting, inventories, program management, and journal entries? The Fraud Audit explores: The fraud paradigm Fraud audit standards Fraud risk structure Brainstorming?why it works impressively in fraud risk detection Building your fraud audit program The art and science of data mining for fraud Document analysis?the red flags to watch out for Conveying the impact of potential fraud to management Anticipate fraud before it shows up Straightforward with easy-to-implement guidance, The Fraud Audit provides the sound business advice you need for a problem that's here to stay. Zusammenfassung Essential guidance for creation of an effective fraud audit program in core business systems The Association of Certified Fraud Examiners has reported that U.S. businesses lose up to $4 billion annually due to fraud and abuse. Discover fraud within your business before yours becomes another business fraud statistic. Inhaltsverzeichnis Preface xi Chapter 1: What Is a Fraud Audit? 1 Why Respond to Fraud Risk? 3 The Fraud Paradigm 4 Fraud Auditing 5 Fraud Defined 8 The Fraud Triangle 8 Responses to the Risk of Fraud 12 Summary 13 Chapter 2: Professional Standards 15 Overview 16 Fraud Audit Standards 18 Summary 25 Chapter 3: Fraud Scenarios 27 Key Definitions and Terms 28 Fraud Risk Structure 30 Classifying Fraud 32 Identifying Fraud Scenarios 41 Fraud Audit Considerations 46 Summary 51 Chapter 4: Brainstorming: The Implementation of Professional Standards 53 What Is Brainstorming? 54 When to Brainstorm 56 Summary 66 Chapter 5: Assessment of Fraud Likelihood 69 Preparing a Fraud Risk Assessment 69 Summary 81 Chapter 6: Building the Fraud Audit Program 83 <...

List of contents

Preface xi
 
Chapter 1: What Is a Fraud Audit? 1
 
Why Respond to Fraud Risk? 3
 
The Fraud Paradigm 4
 
Fraud Auditing 5
 
Fraud Defined 8
 
The Fraud Triangle 8
 
Responses to the Risk of Fraud 12
 
Summary 13
 
Chapter 2: Professional Standards 15
 
Overview 16
 
Fraud Audit Standards 18
 
Summary 25
 
Chapter 3: Fraud Scenarios 27
 
Key Definitions and Terms 28
 
Fraud Risk Structure 30
 
Classifying Fraud 32
 
Identifying Fraud Scenarios 41
 
Fraud Audit Considerations 46
 
Summary 51
 
Chapter 4: Brainstorming: The Implementation of Professional Standards 53
 
What Is Brainstorming? 54
 
When to Brainstorm 56
 
Summary 66
 
Chapter 5: Assessment of Fraud Likelihood 69
 
Preparing a Fraud Risk Assessment 69
 
Summary 81
 
Chapter 6: Building the Fraud Audit Program 83
 
Traditional Audit versus the Fraud Audit 84
 
Responding to the Risk of Fraud 84
 
A Fraud Audit Program 85
 
Testing Procedures 89
 
Fraud Concealment Effect on the Audit Response 97
 
Audit Evidence Issues 103
 
Fraud Scenario Examples 105
 
Summary 110
 
Chapter 7: Data Mining for Fraud 111
 
The Art and Science of Data Mining 112
 
Strategies for Data Mining 129
 
Limitations of Data Mining 131
 
Summary 132
 
Chapter 8: Fraud Audit Procedures 133
 
Basis of Fraud Audit Procedures 133
 
Levels of Fraud Audit Procedures 135
 
Design of Fraud Audit Procedures 138
 
Summary 145
 
Chapter 9: Document Analysis 147
 

Document Analysis and the Fraud Audit 148
 
Levels of Document Examination 148
 
Document Red Flags 150
 
Brainstorming Sessions and Document Red Flags 155
 
The Fraud Audit Program and Document Red Flags 156
 
Summary 156
 
Chapter 10: Disbursement Fraud 159
 
Fraud Risk Structure 159
 
Audit Approaches 166
 
Summary 178
 
Chapter 11: Procurement Fraud 179
 
Fraud Risk Structure 181
 
Audit Procedures 195
 
Summary 202
 
Chapter 12: Payroll Fraud 205
 
Fraud Risk Structure 206
 
Audit Procedures 212
 
Summary 222
 
Chapter 13: Revenue Misstatement 223
 
Fraud Risk Structure 224
 
Audit Approach 231
 
Summary 236
 
Chapter 14: Inventory Fraud 237
 
Fraud Risk Structure 238
 
Audit Procedures 243
 
Summary 249
 
Chapter 15: Journal Entry Fraud 251
 
Fraud Risk Structure 252
 
Audit Procedures 261
 
Summary 266
 
Chapter 16: Program Management Fraud 269
 
Fraud Risk Structure 270
 
Audit Approach 277
 
Summary 282
 
Chapter 17: Quantifying Fraud 283
 
Conveying the Impact to Management 284
 
Role of Evidence in Calculating a Fraud Loss 287
 
Impact on the Fraud Audit 289
 
Options for Management 292
 
Case Studies 293
 
Summary 296
 
Appendixes 297
 
Appendix A 298
 
Appendix B 311
 
Appendix C 325
 
Appendix D 339
 
Appendix E 347
 
Appendix F 360
 
Appendix G 363
 
About the Author 365
 
Index 367

Report

'Provides tools that can be used by any business.' - Finance & Management Faculty, Sept 2011

Product details

• Authors: Vona, Leonard W Vona, Leonard W. Vona, Lw Vona, VONA LEONARD W, Vona Leonard W.
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 26.08.2011
• EAN: 9780470647264
• ISBN: 978-0-470-64726-4
• No. of pages: 400
• Series: Wiley Corporate F&A; Wiley Corporate F&A
• Subjects: Social sciences, law, business > Business > Business administration; Rechnungswesen, Revision, Accounting, Auditing, Revision (Wirtsch.)