Forensic (Fraud) Services
Occupational Fraud: A Study of the Impact of an Economic Recession
Unfortunately fraud is a big issue for most companies. It is estimated that fraud represents around 5% of gross annual revenue. This is an overhead cost that companies cannot afford to ignore.
There are two aspects related to our fraud services-fraud risk assessment and fraud examinations.
What we do for you related to fraud risk assessment…
- Due to internal control weaknesses we may determine that the company has a higher fraud risk in certain areas of the operation.
- We have developed various questionnaires that we use to assess the fraud risk and develop recommendations to reduce that risk.
- This process enhances the company internal control policies and procedures.
- This assessment will not eliminate all potential fraud but it will reduce the risk and increase the awareness within the company related to fraud.
What we do for you related to fraud examinations…
- Once it has been determined that fraud has occurred a fraud examination is necessary to determine the damages to the company.
- We have a very systematic approach to the examination that is based on examining the relevant information, interviewing and investigating the appropriate people, and developing the fraud report for management.
- The fraud examination should reach a conclusion on whether the company was damaged by an error/mistake or by intent to defraud the company.
- The examination will allow the management of the company to make the appropriate internal changes needed and/or pursue legal action.