Fraud is the insidious deception of others for personal gain, with the intention of taking from them some property or right. It often involves theft, which is often concealed. Fraud & Forensic Investigations employs long recognized and standardized methodologies to investigate fraud allegations within corporate entities. Often, our client's goal is to determine whether or not suspicions of fraud are valid, and then to pursue any related activity if confirmed.
With the first recognition that a fraudulent activity may be taking place, the accumulation of evidence should immediately follow a much tighter set of controls than are imposed during standard audit procedures. Fraud investigations should proceed carefully, with a tight focus attuned to the situation, and be conducted by professionals cognizant of the discipline's strict demands.
At times, the examiner must assume a tough position, while at other times a careful, considerate approach will be more productive. Our Certified Fraud Examiners have the experience to recognize the best tactics to employ. Typically, our fraud inspection procedures include working closely with legal counsel, obtaining evidence and taking statements, testifying in court as an expert witness on evidence gathered, and providing cohesive reports on our activity and findings.
Just as important, for those companies with foresight, we have the depth and expertise to help clients implement procedures and systems designed to detect and inhibit fraud before it occurs. Our fraud investigation service is closely tied to our forensic examination services and we bring both tools to bear in each case as warranted.
FFI has been involved in the identification of millions of dollars that have been missing, misused or embezzled. We are often called into a case where the CPA or internal auditors do not have the specific skill sets or the staffing to be able to clarify all of the potential transactions that could be subject to additional scrutiny. We have reconstructed the entire accounting records for companies and entities spanning multiple years enabling others to identify monies where the accounting was not proper. The recreation process allows the company to have a fresh start while being able to see we are looking for inappropriate actions and transactions.
Because FFI subscribes to the Codes of Ethics of the Association of Certified Fraud Examiners as well as the American College of Forensic Examiners International, we go into a case with a clean slate to observe all of the transactions and financials of the client. We are not engaged to ‘catch the bad guy’, but rather to shed the light of day upon a series of circumstances. We have not only found instances of money disappearing, but have also been able to exonerate individuals who were falsely accused. We may decline cases where the client has apparently made up their mind that a certain person or persons have committed crimes. We would rather determine the facts. When that is done, it is generally apparent which decision is the best, and the company can make that decision and take appropriate steps.