Q: What do I do if I suspect an employee is stealing from me?
A: Rather than confront the employee yourself, involve a Certified Fraud Examiner who is trained to look for and confirm evidence of fraud.
Q: Why doesn’t my accountant provide these services?
A: Traditional accountants are trained to report on transactions where the information is known and confirmed to be true. Forensic Accountants and Certified Fraud Examiners have an increased level of skepticism, are trained to seek out the unknown and to determine whether a fraudulent transaction or action has occurred.
Q: What is a Certified Fraud Examiner?
A: Certified Fraud Examiners have a unique set of skills that are not found in any other discipline, combining knowledge of complex financial transactions with an understanding of accounting transactions, law, criminology, and fraud examination. Learn more about Certified Fraud Examiners.
Q: What is a Forensic Accountant?
Forensic accountants combine traditional accounting skills with the keen eye of an investigator and a firm understanding of the legal system. Through a specific type of examination called a forensic audit, forensic accountants determine whether or not there is evidence for fraud. Learn more about Forensic Accountants.
Q: How expensive are the services?
A: There is no charge for an initial one-hour consultation. Fees will vary depending on specific client needs and circumstances.
Q: What is the purpose of a Fraud Risk Assessment?
A: A Fraud Risk Assessment identifies major gaps (Fraud Risk Factors) in your organization’s fraud prevention processes.
Q: Who else do you work with when it is confirmed that fraud has occurred?
A: Certified Fraud Examiners frequently work with legal council, law enforcement and other outside specialists in the course of their investigation.
Q: What happens if you suspect that one of my employees is stealing from me?
A: If we suspect that one of your employees is stealing, we discuss it with you confidentially and proceed to collect the evidence necessary to either prove or disprove the fraud.
Q: What is the best way to protect my company from fraud and embezzlement?
A: Although there is no foolproof way to protect your company from fraud and embezzlement, the risk can be minimized by proper management oversight, anti-fraud education, effective anti-fraud internal controls, and a periodic Fraud Risk Assessment (FRA) by a Certified Fraud Examiner.
Q: What is the difference between a proactive and a reactive fraud specific examination?
A: The sole purpose of a proactive fraud-specific examination is to determine whether or not evidence of fraud exists. A reactive fraud-specific examination assumes that there are symptoms of fraud and the Certified Fraud Examiner searches for and compiles the evidence necessary to ascertain the existence of fraud.
Q: Why does my organization need Fraud Awareness Training?
A: It is a fact that organizations that invest in anti-fraud or fraud awareness training experience a much lower incident rate of fraud than organizations that do not. Educating owners and managers about common fraud schemes, red flags that signal wrongdoing, and controls for deterring and detecting fraud helps protect your organization from being victimized.