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Fraud Assessment
Our Objective: Your Peace of Mind
SC&H fraud assessment experts will help determine your organization's potential exposure to internal fraud and abuse.
Our certified fraud examiners and public accountants will review your organization's internal controls and accounting transactions to determine the extent to which fraud is likely to exist. The objective is to understand the organization's operations from the viewpoint of procedures that can adversely affect cash flow and provide employees with the temptation or opportunity to commit fraud.
Actual costs of fraud are difficult to estimate because most fraud goes undetected. Offenses are rarely discovered through routine financial statement audits. Few are detected until significant losses are incurred.
We will assist your business in detecting existing fraud but, more important, we will help you prevent fraud before it occurs. Taking preventative measures to protect your business is not only the wisest course of action; it is the most cost effective.
Stage 1: We explore and document the organization's policies and procedures and conduct open discussions with management and employees. This step will help identify the areas that require further investigation and analysis.
Stage 2: Detailed analysis of the high-risk fraud and abuse areas identified in stage 1. We will review vendor, customer, and employee files as warranted by the particular situation. We also will review the accounting system and history of cash disbursements and wire transfers.
Stage 3: Report. At the conclusion of our review, we will present you with a comprehensive report, including recommendations for strengthening internal controls that are aimed at detecting, deterring, and preventing future fraud and abuse occurrences.
For more information about our Business Valuation and Litigation Support practice, contact us.
