Fraud Prevention, Detection, and Investigation

Fraud in business hurts everyone.

While the details are different with specific clients, a very high percentage of them have one thing in common: a trusted employee (sometimes a relative) was performing the functions of receiving payments and making the deposits, paying the bills (writing checks), and reconciling the checkbook. In this role, the two most common assets embezzled from businesses are money and inventory.

Another common theme is that the fraud went on for years before it was discovered, and many people were hurt when everything came out in the open. Most business operate as described above, but no business owner wants to lose his or her hard-earned money to fraud, especially if it involves a trusted employee. We believe the best approach to occupational fraud is prevention and detection.

According the Association of Certified Fraud Examiner’s 2012 Global Fraud Study, occupational fraud falls into three primary schemes:

  • Asset misappropriation
  • Corruption
  • Financial statement fraud

The study found that asset misappropriation, which includes theft of cash, false billing, payroll disbursements, check tampering, and misuse of inventory accounted for 86% of frauds investigated. The items involved in these specific schemes are at the heart of every small business.

As a Certified Fraud Examiner, we can assist with the following:

  • Investigate suspected fraud
  • Perform a fraud risk assessment on your business
  • Develop an anti-fraud program
  • Provide anti-fraud training to you and your employees
  • Help implement proactive measures to increase employees’ perception of detection

If you’ve seen or heard something within your business that has caused the word fraud to cross your mind, don’t let that thought go. Let us help you put the pieces together to determine if someone is taking what belongs to you.

We can help you safeguard your assets. Contact us today to discuss how to prevent and investigate possible fraud in your business.