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DUBAI, UAE, Oct. 3, 2024 /PRNewswire/ — Fraud auditing practitioner Leonard Vona, CEO of Fraud Auditing Inc. and a world-renowned authority on internal fraud risk, will present his innovative fraud risk assessment methodology at a conference in Dubai. This methodology, developed through years of experience, offers a groundbreaking approach to fraud detection.
This step-by-step methodology seamlessly integrates fraud data analytics and fraud auditing. It is a proven approach to uncovering fraud at all levels of sophistication, including illegal activities by insiders, vendors, and other relevant parties.
“I firmly believe that fraud auditing should be the number one reason for fraud detection. This is a process that companies can follow to pull back the curtain and see what is happening despite fraud prevention policies,” said Vona, CPA, CFE. “It is more reliable and consistent than relying on whistle-blowers or accidental discoveries.”
Vona will present his methodology at the Foreseeing Government Audit Future Conference Event 2024, sponsored by the Financial Audit Authority.
Vona defines fraud risk as “an intentional and concealed threat to cause harm to the organization by exploiting the natural vulnerabilities that exist within our overall internal control structure.”
Traditional fraud risk models are outdated as they oversimplify fraud risk identification, focus on historical fraud risk, overemphasize preventive controls, and prioritize mitigation over vulnerabilities. Vona’s approach is calibrated to the sophistication of the perpetrator, includes industry information, considers behavioral science regarding fraud perpetrators, and focuses on understanding fraud risk rather than merely documenting it.
Vona is the author of three books published by Wiley: Fraud Risk Assessment: Building a Fraud Audit Program and the Fraud Audit; Responding to the Risk of Fraud in Core Business Systems; and Fraud Data Analytics Methodology: The Fraud Scenario Approach to Uncovering Fraud.
Vona lectures nationally and internationally on fraud risk assessments, fraud auditing, fraud prevention and detection, and fraud schemes targeting companies. He been recognized by the Institute of Auditors as a subject matter expert on fraud risk assessment and regularly speaks at ACFE conferences. He is an experienced trial witness with extensive experience in federal and state courts and is cited in West Law for the successful use of circumstantial evidence.
For more information, contact Leonard Vona at 518.339.6748.
Fraud Auditing, Inc. advises clients in areas of fraud risk assessment, fraud auditing, fraud data analytics, and fraud prevention and detection internal controls.
SOURCE Leonard Vona
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