Fraud Examinations

As stated in the 2022 report of the Association of Certified Fraud Examiners (ACFE), the loss of businesses in a typical fraud incident is 8,300 USD for each month, with an average of 12 months to be noticed.
(https://acfepublic.s3.us-west-2.amazonaws.com/2022+Report+to+the+Nations.pdf)

Careful and thorough planning prior to the examination of fraud claims or an organization’s anti-fraud policies and controls, and the use of appropriate software and hardware will alleviate any difficulties that may arise in the processes. There are many reasons for organizations to choose fraud examinations. Properly planned and conducted fraud examinations can be applied to many organizational goals such as;
• Identifying improper conduct
• Identifying the persons responsible for improper conduct
• Stopping fraud
• Sending a message throughout the organization that fraud will not be tolerated
• Determining the extent of potential liabilities or losses that might exist
• Helping facilitate the recovery of losses
• Stopping future losses
• Mitigating other potential consequences
• Strengthening internal control weaknesses
In some cases, fraud investigations may be required by law. Examination may arise from statutes, regulations, contracts or common law obligations. For example, the directors of the company are under common law obligation to the company and its shareholders. Therefore, when suspicion of fraud arises, they should initiate an investigation as it is an issue affecting the company. Similarly, due to some laws, employers are responsible for investigating employee complaints involving retaliation, discrimination, harassment, etc.

Fraud investigation refers to the process of resolving fraud claims from start to end and includes obtaining evidence, reporting, testifying of findings, and assisting in fraud detection and prevention.

Please contact us so that we can jointly determine the appropriate solutions for your Fraud Examination needs and save your money.