Details

The Fraud Audit


The Fraud Audit

Responding to the Risk of Fraud in Core Business Systems
Wiley Corporate F&A, Band 16 1. Aufl.

von: Leonard W. Vona

54,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 09.06.2011
ISBN/EAN: 9781118093726
Sprache: englisch
Anzahl Seiten: 400

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Beschreibungen

Essential guidance for creation of an effective fraud audit program in core business systems <p>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. The Fraud Audit provides a proven fraud methodology that allows auditors to discover fraud versus investigating it.</p> <ul> <li>Explains how to create a fraud audit program</li> <li>Shows auditors how to locate fraud through the use of data mining</li> <li>Focuses on a proven methodology that has actually detected fraudulent transactions</li> </ul> <p>Take a look inside for essential guidance for fraud discovery within specific corporate F&A functions, such as disbursement, procurement, payroll, revenue misstatement, inventory, journal entries, and management override.</p>
<p>Preface xi</p> <p><b>Chapter 1: What Is a Fraud Audit? 1</b></p> <p>Why Respond to Fraud Risk? 3</p> <p>The Fraud Paradigm 4</p> <p>Fraud Auditing 5</p> <p>Fraud Defined 8</p> <p>The Fraud Triangle 8</p> <p>Responses to the Risk of Fraud 12</p> <p>Summary 13</p> <p><b>Chapter 2: Professional Standards 15</b></p> <p>Overview 16</p> <p>Fraud Audit Standards 18</p> <p>Summary 25</p> <p><b>Chapter 3: Fraud Scenarios 27</b></p> <p>Key Definitions and Terms 28</p> <p>Fraud Risk Structure 30</p> <p>Classifying Fraud 32</p> <p>Identifying Fraud Scenarios 41</p> <p>Fraud Audit Considerations 46</p> <p>Summary 51</p> <p><b>Chapter 4: Brainstorming: The Implementation of Professional Standards 53</b></p> <p>What Is Brainstorming? 54</p> <p>When to Brainstorm 56</p> <p>Summary 66</p> <p><b>Chapter 5: Assessment of Fraud Likelihood 69</b></p> <p>Preparing a Fraud Risk Assessment 69</p> <p>Summary 81</p> <p><b>Chapter 6: Building the Fraud Audit Program 83</b></p> <p>Traditional Audit versus the Fraud Audit 84</p> <p>Responding to the Risk of Fraud 84</p> <p>A Fraud Audit Program 85</p> <p>Testing Procedures 89</p> <p>Fraud Concealment Effect on the Audit Response 97</p> <p>Audit Evidence Issues 103</p> <p>Fraud Scenario Examples 105</p> <p>Summary 110</p> <p><b>Chapter 7: Data Mining for Fraud 111</b></p> <p>The Art and Science of Data Mining 112</p> <p>Strategies for Data Mining 129</p> <p>Limitations of Data Mining 131</p> <p>Summary 132</p> <p><b>Chapter 8: Fraud Audit Procedures 133</b></p> <p>Basis of Fraud Audit Procedures 133</p> <p>Levels of Fraud Audit Procedures 135</p> <p>Design of Fraud Audit Procedures 138</p> <p>Summary 145</p> <p><b>Chapter 9: Document Analysis 147</b></p> <p>Document Analysis and the Fraud Audit 148</p> <p>Levels of Document Examination 148</p> <p>Document Red Flags 150</p> <p>Brainstorming Sessions and Document Red Flags 155</p> <p>The Fraud Audit Program and Document Red Flags 156</p> <p>Summary 156</p> <p>Contents & ix</p> <p><b>Chapter 10: Disbursement Fraud 159</b></p> <p>Fraud Risk Structure 159</p> <p>Audit Approaches 166</p> <p>Summary 178</p> <p><b>Chapter 11: Procurement Fraud 179</b></p> <p>Fraud Risk Structure 181</p> <p>Audit Procedures 195</p> <p>Summary 202</p> <p><b>Chapter 12: Payroll Fraud 205</b></p> <p>Fraud Risk Structure 206</p> <p>Audit Procedures 212</p> <p>Summary 222</p> <p><b>Chapter 13: Revenue Misstatement 223</b></p> <p>Fraud Risk Structure 224</p> <p>Audit Approach 231</p> <p>Summary 236</p> <p><b>Chapter 14: Inventory Fraud 237</b></p> <p>Fraud Risk Structure 238</p> <p>Audit Procedures 243</p> <p>Summary 249</p> <p><b>Chapter 15: Journal Entry Fraud 251</b></p> <p>Fraud Risk Structure 252</p> <p>Audit Procedures 261</p> <p>Summary 266</p> <p><b>Chapter 16: Program Management Fraud 269</b></p> <p>Fraud Risk Structure 270</p> <p>Audit Approach 277</p> <p>Summary 282</p> <p><b>Chapter 17: Quantifying Fraud 283</b></p> <p>Conveying the Impact to Management 284</p> <p>Role of Evidence in Calculating a Fraud Loss 287</p> <p>Impact on the Fraud Audit 289</p> <p>Options for Management 292</p> <p>Case Studies 293</p> <p>Summary 296</p> <p><b>Appendixes 297</b></p> <p>Appendix A 298</p> <p>Appendix B 311</p> <p>Appendix c 325</p> <p>Appendix d 339</p> <p>Appendix E 347</p> <p>Appendix F 360</p> <p>Appendix G 363</p> <p>About the Author 365</p> <p>Index 367</p>
<p><b>LEONARD W. VONA, CPA, CFE,</b> 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 <i>Fraud Risk Assessment: Building a Fraud Audit Program,</i> 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.
<p><b>THE FRAUD AUDIT</b> <p><b>Responding to the Risk of Fraud in Core Business Systems</b> <p>Offering the guidance, strategy, and tools you need to respond to the very real, ongoing risk of fraud, <i>The Fraud Audit</i> 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. <p>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. <p>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—<i>The Fraud Audit</i> explores: <ul> <li>The fraud paradigm</li> <li>Fraud audit standards</li> <li>Fraud risk structure</li> <li>Brainstorming—why it works impressively in fraud risk detection</li> <li>Building your fraud audit program</li> <li>The art and science of data mining for fraud</li> <li>Document analysis—the red flags to watch out for</li> <li>Conveying the impact of potential fraud to management</li> <li>Anticipate fraud before it shows up</li> </ul> <p>Straightforward with easy-to-implement guidance, <i>The Fraud Audit</i> provides the sound business advice you need for a problem that's here to stay.

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