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 ..read more

  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 ..read more

  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 ..read more

Using Fraud Auditing to Detect Shell Company Fraud Schemes The last two blogs were an esoteric discussion on fraud auditing using either a principal-based approach or a rule-based approach. With this blog, we'll launch into the practical use of fraud auditing. By way of example, we will look at how to detect shell company fraud schemes perpetrated against your company. Remember, our goal is to make audit the number one reason for fraud detection ..read more

In accountancy, there are frequent discussions about a principle-based approach to GAAP vs. a rule-based approach. That is an equally valid discussion for fraud auditing. As you read, I hope you will reflect on whether a principle or a rule-based approach would be of more benefit to your organization ..read more

This is the third blog looking at the state of the auditing profession. In the first blog, we looked at what has changed as companies have grown and gone global. Last month we considered the use of words and the significance of precision. And in this blog, we'll delve into principles that form the bases for our work ..read more

This is the second of three blogs looking at the state of the auditing profession. In the first blog, we looked at what has changed as companies have grown and gone global. In this article, we’re considering the use of words and the significance of precision ..read more

As business systems have grown more complex and moved into a digital world, they’ve created more opportunities not only for fraud but also for uncovering fraud. It is my contention that auditing should be the number one reason for exposing fraud. And that requires a shift in mindset as well as the right techniques ..read more

Throughout my blogs, I have stressed the importance of knowledge. For this month’s blog, I am sharing what I believe to be valuable information as you think through your company's fraud prevention and detection policies. We will be taking a look at the recently approved Corporate Transparency Act.  I would strongly suggest that you educate yourself and then determine if your company’s policies and internal controls need to be updated ..read more

We looked at how to create fraud risk statements using the payroll function in the last blog. In this blog, we’ll look at how to apply the fraud risk statement in a fraud audit program. But first, the Trivia answers: Was Christmas ever illegal ..read more