Vonya Global Hired to Identify Payroll Fraud

Nov. 12, 2009 - PRLog -- Payroll Fraud can create a significant financial burden on a company.  Often difficult to detect, it can lead to hundreds of thousands of dollars in losses each year.  The most costly payroll fraud scheme is “Ghost Employees” (someone on payroll who doesn’t work for the business) – which according to one study has an average loss of $275,000 per incident.  While payroll fraud can happen at any company, not all companies are as susceptible.  

A large retail organization with well over 200,000 employees has retained Vonya Global to search for fraud in payroll.  Specifically Vonya Global will be looking for Ghost Employees, which includes Fictitious Ghosts, No-Show Ghosts, Pre-employment Ghosts, Terminated Ghosts, Temporary Ghosts, Family/Friend Ghosts, and Temp Agency Ghosts.

Unlike an investigation, this project is a proactive approach to fraud detection.  The retail client has no evidence or indication that payroll fraud is occurring; however based on their size and their industry the company understands that fraud is likely.  The Vonya Global approach takes an inventory of all payroll data and payroll files.  The information will be segregated into groups with similar characteristics and extensive data analysis will be conducted on each of these distinct groups to indentify data anomalies.  All anomalies will be interrogated to pierce through the fraud concealment strategy to identify the instances of fraud.  If payroll fraud is happening, this 2-3 week project will identify the each occurrence.

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Vonya Global is a consulting firm specialized in providing internal audit, internal control, and risk assurance services. Having locations throughout the world, Vonya Global serves as a value added alternative to the large accounting firms.