Accounting fraud – fraud exposure assessment

Every organization faces risk of internal fraud. Fraud exposure scrutiny requires assessment of the following situations: assessing conflicts of interest, embezzlement identification and/or asset misappropriation and measuring their impact, identify fraudulent financial reporting, money laundering, measuring the fraud that led to the insolvency or bankruptcy of a business and other situations which may affect the integrity of company’s assets.

Organizations must develop a comprehensive risk assessment program to ensure that fraud exposure is understated throughout the organization. We can help you identify and fight against fraud through:

• analyzing accounting data to discover inconsistencies or data mismatch, cross analysis with other data sources;
• reviewing the internal control system in order to reduce business vulnerability, identify situations that are likely occurrence of fraud;
• employees training to deter fraud, as both inside and outside fraud take place with the assistance of employees;
• developing fraud exposure assessment procedures in all company divisions or departments.

Frauds can negatively impact business reputation leading to loss of confidence in business partners, compromise financial stability and even decreased the productivity of the company.

If you discover a fraud or questionable activity in your company, then you must act quickly. Otherwise you may lose some revenue, you can recover the loss with difficulty or you can be in very unsuitable situations.