Fraud and Forensic Accounting
The keys to dealing with fraud are to be: (1) ever diligent, and (2) aggressively agile should you suspect or detect a crime.
Today, fraud in the workplace results in staggering losses of approximately $600 billion per year. The bad news: this number will likely increase with the rise of the digital criminal. The good news: fraud is preventable, detectable, and susceptible to quick, aggressive responses.
Your company, not for profit, or governmental entity needs to have a fraud prevention, detection, and response plan. The first step is a risk assessment that’s usually followed by recommendations for newer, better, and stronger internal controls. Other best practices include adding a healthy dose of employee education and installing monitoring technologies. However, as long as criminals find new ways of hurting your bottom line, you’ll always be building, revising, and updating your fraud management program.
Here’s an overview of the types of fraud that can occur across different industries:
Types of Fraud | Specific Fraud Events |
Asset Misappropriation |
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Vendor Fraud |
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Accounting Fraud |
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Payroll Fraud |
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Data Theft |
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Bribery and Corruption |
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Intellectual Property Fraud |
|
Government Fraud |
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Financial statement fraud |
|
Solutions
Businesses, not for profit organizations, and governmental entities often need assistance from a Certified Fraud Examiner (CFE) in the following areas:
- Anti-bribery and corruption investigations
- Asset tracing, misappropriation, and employee embezzlement investigations
- Design of IT controls
- Digital forensics services
- Economic damage analysis
- Financial statement fraud and improper revenue and expense recognition
- Fraud hotline evaluation and testing
- Fraud insurance recovery investigations
- Fraud prevention programs
- Fraud risk assessment and evaluation of internal controls
- Insurance claim analysis
- IT/cybersecurity assessments
- Litigation support and expert witness testimony
- Reconstruction of financial records
- Third party vendor kickbacks and contract compliance
- Whistleblower investigations
If you suspect fraud is occurring in your workplace, please immediately contact Steven Peiffer, using the fillable “Contact Us” form on this page, for a complimentary consultation.
Industries
Adams Brown provides fraud and forensic accounting services in the following industries:
Testimonials
Fraud and Forensic Accounting Team Leader:
Steven Peiffer
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