Fraud & Forensics

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“…I always had a bad feeling that the numbers weren’t adding up and something was wrong.” – Actual small business owner and fraud victim.

“…there was no good reason why we were running out of cash.” – Fraud Victim

Fraud in the business environment happens at every level, from the smallest of businesses to the largest of companies. It is often said that occupational fraud is a matter of “when” not so much “if.” A recent occupational fraud report issued by the Association of Certified Fraud Examiners (ACFE) estimates that losses due to fraud are at 5% of annual revenue. Incidents of fraud not only result in loss of company assets but can also negatively impact a company’s reputation and workforce morale, and depending on the type of fraud perpetrated, can make a business close their doors permanently.

Typical business environments that expose small and large businesses to undue fraud risks are as follows:

  • Limited or no internal controls
  • One person does it all (prepare checks, sign checks, post accounting transactions)
  • Lack of Owner/manager oversight

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Internal Controls Consulting

Our team of forensic accountants are trained to assess and highlight where the “gaps” in detection may occur in your organization. An ounce of prevention may save tons of dollars in fraud losses. We can quickly evaluate and identify significant threats to the safeguarding of your assets such as cash, inventory and even larger fixed assets.

In many instances, fraud may occur over the long-term and my go undetected for many months. If you have doubt or have that “funny feeling” that something just doesn’t add up, now is the time to give yourself the peace of mind that you are not losing hundreds of thousands dollars to fraud. Employees living beyond their means (such as expensive jewelry, trips, lavish cars and lifestyles) are key indicators that you may be funding this lifestyle unknowingly.

Our fraud and forensic accounting team can help an organization and its legal counsel in a variety of ways. Whether a company is in the early stage of detecting fraud or is under the suspicion that fraud may be happening within its organization, we can help. We work with our clients to ensure our approach is customized to their specific situation and needs in order to get to the bottom of their issues.

Depending on the situation, fraud investigations procedures may consist of the following:

  • Assist with identifying the nature, extent, and amount of alleged fraud
  • Gather relevant evidence in the process that can be used in legal proceedings, if applicable
  • Perform detailed data analysis in analyzing transactions and relationships involved
  • Work with company management to identify weaknesses in internal control processes that allowed alleged fraud to take place
  • Conduct internal interviews, if necessary
  • Work with a company’s legal counsel to assist with legal proceedings

Expert reports and testimony

  • Preparation of report detailing fraud investigation that can be used in legal proceedings
  • Expert witness testimony, if required, in legal proceedings
  • Serve as consulting experts in legal proceedings
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