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Occupational Fraud Schemes: Before and After


Cost Free
Presentation Length 1.0 hour

Recorded DateFebruary 2, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAuditing
Course LevelBasic
Course Description

This two-part webinar session will address how to identify fraud before it happens and what happens after professionals are called in to investigate. By understanding both sides of fraud cases, best practices of prevention, and investigators’ procedures, accounting professionals will be better equipped to identify, prevent, and investigate fraud.

Section 1: Before the Fraud Occurs - Prevention Practices

This 20-minute section, led by Leonard Vona, will explain a defined methodology with a step-by-step approach to fraud risk identification for asset misappropriation schemes. The discussion will show how to incorporate the methods into the planning stage of the audit. Attendees will learn how to define their audit scope using the fraud risk structure methodology, including:

  • Using the inherent fraud scheme approach

  • A step-by-step approach to fraud risk identification

Section 2: After the Fraud Occurs - The Investigation

This 30-minute section, led by Chris McCall, will review investigation procedures and software tools utilized by investigators to prove fraud has occurred. The discussion will show how to simplify and accelerate the work required to:

  • Create a database of transactional evidence

  • Trace the flow of funds through various accounts

  • Identify undisclosed accounts and assets

Learning Objectives:

  • Determine a step-by-step approach to fraud risk identification

  • Recall standard investigative procedures and software tools used in fraud identification

  • Identify best practices to prevent, and investigate fraud

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Leonard W. Vona is the CEO of Fraud Auditing, Inc. He is a forensic accountant with more than 38 years of diversified fraud auditing experience, including a distinguished 18-year private industry career. His firm, Fraud Auditing, Inc., advises clients in litigation support, financial investigations, fraud detection, and fraud prevention.


Mr. Vona is the author of Fraud Risk Assessment: Building a Fraud Audit Program, 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 in Core Business Systems


Mr. Vona has successfully conducted more than 100 financial investigations and fraud auditing engagements for some of the United States’ largest high profile corporations. The net result of his efforts has saved clients millions of dollars through recovery or defense strategies. His financial investigation experience includes embezzlement, business disputes, asset theft, bribery and corruption, malpractice, and disbursement schemes. Mr. Vona’s trial experience is extensive, including appearances in federal and state courts. He is qualified as an expert witness, a Certified Public Accountant (CPA), and a Certified Fraud Examiner (CFE). He is cited in West Law for the successful use of circumstantial evidence.

Mr. Vona lectures nationally and internationally on fraud risk assessments, fraud investigation, fraud prevention and detection, and fraud schemes perpetrated on companies. He regularly speaks at audit conferences and has developed the Fraud Training Curriculum for the MIS Training Institute, an internationally recognized audit training organization. Mr. Vona has provided more than 1,000 days of fraud training to organizations around the world. He was previously on the faculty of Lally School of Management at Rensselaer Polytechnic Institute. He has written the training course on Auditors Responsibility for Detecting Fraud – SAS99 used by CPA Societies across the country. His international training experience includes five continents and training through interpreters in the Spanish, Portuguese and Russian languages.


As CEO and co-founder, Chris leads VALID8’s vision, strategy, and execution. Before co-founding VALID8, Chris led marketing as Chief Marketing Officer for NexGen Storage, where he built a world-class marketing team around strategic market analysis and product management.

Chris started his career as an electrical engineer designing systems for Boeing 747’s. Identifying the need to modernize the engineering design data infrastructure, he revamped how system design software could leverage large datasets more effectively. Passionate about extracting value from big data systems, Chris took on several product roles with startups acquired by F500 companies HP and SanDisk

About Our Sponsor

Financial investigations and audits need to be fast, accurate, and comprehensive. Valid8 extracts and reconciles banking transactions from multiple sources creating a database of financial evidence for professionals. Transfers and matches are identified to automate data prep, substantive testing procedures, and tracing the flow of funds. Interactive data visualization simplifies asset discovery and finding fraudulent transfers.