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Financial crime poses a real and substantial threat to the stability of any business. Taking the proper measures to prevent or react quickly to a malfeasance is critical. Fraud and theft involving everything from intellectual property to inventory, from cybercrime to corruption, can be critically expensive.
The PricewaterhouseCoopers Global Economic Crime Survey 2005 found that 45% of companies reported suffering fraud over the previous two years, leading to a loss of assets which cost an average of USD 1.7 million in each location per company surveyed. Furthermore, 40% of companies suffered significant loss of reputation, demotivated staff and damaged business relations.
For organisations that encounter economic crime, fraud, or allegations of financial irregularity, our experienced and knowledgeable teams can manage and minimise the threat of corporate crimes and achieve improved outcomes using the following four front strategies:
- Reduce business disruptions, financial loss, and reputational damage;
- Identify the perpetrators and uncover actionable evidence;
- Trace and retrieve stolen/missing assets as fully as possible; and
- Recommend and/or implement effective remedial action to forestall future incidents.
We combine financial and accounting acumen with investigative skills and industry specific expertise to create a network of experts on an international level. Our global resources include CPAs, forensic accountants and Certified Fraud Examiners, former law enforcement officers, prosecutors, former financial regulators, lawyers, insurance specialists as well as forensics technology and asset recovery specialists.
We provide assistance with:
Forensic Analysis
- Review complex accounting systems;
- Untangle complex financial transactions;
- Identify unusual or suspicious transactions;
- Test for fraudulent/misrepresented financial statements;
- Reconstruct damaged accounting records using forensic technology; and
- Test for unauthorised access and modification of client's financial statements.
Fraud Enquiries
- Assess bribery and corruption assets;
- Examine alleged misappropriation of corporate assets/funds;
- Secure vital evidence;
- Use forensic technology to query and analyse data sets and user files;
- Conduct fact finding interviews with relevant parties, obtain statements; and
- Prepare an objective report on findings.
Fact Finding & Process Review
- Conduct searches of public records and publicly available databases;
- Identify conditions/control deficiencies that led to identified irregularities/incidents of deception;
- Uncover undisclosed conflicts of interest and improper business relationships;
- Confirm and verify facts;
- Interpret the results and implications for your business; and
- Quantify impact.
Asset Tracing
- Identify hidden assets; and
- Assist in determining the ownership of assets.
Remediation
- Provide recommendations and develop cost effective solutions;
- Develop and prepare evidence briefs; and
- Provide expert witness services.
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