Top Five FAQs For Forensic Accounting Services
-
Upload
veriti-consulting-llc -
Category
Education
-
view
438 -
download
4
description
Transcript of Top Five FAQs For Forensic Accounting Services
VERITI CONSULTING LLC
Top Five Forensic Accounting FAQ’s
TRUTHBEHINDNUMBERS.COMIn-Depth Experience and Unparalleled Expertise
QUESTION #1What is the average loss suffered
by occupational fraud?According to the most recent Report to the
Nations, the median loss caused by occupational fraud is $140,000; however,
more than one-fifth of these cases resulted in losses of at least $1 million.
TRUTHBEHINDNUMBERS.COMIn-Depth Experience and Unparalleled Expertise
QUESTION #2How is occupational fraud detected?
More than likely, it is detected by a tip from an employee of the victim organization.
TRUTHBEHINDNUMBERS.COMIn-Depth Experience and Unparalleled Expertise
QUESTION #3Who commits fraud?
According to the Association of Certified Fraud Examiners, fraud is committed by individuals
who have a higher level of authority. The majority of fraud was committed by those working in the accounting, purchasing or
customer service departments, as well as those in sales and/or executive or upper management.
TRUTHBEHINDNUMBERS.COMIn-Depth Experience and Unparalleled Expertise
QUESTION #4My company gets an outside audit every year.
Won’t this detect, or help prevent fraud? External audits should not be relied upon as a primary
fraud detection method. Per the Association of Certified Fraud Examiners, external audits only detected three
percent of reported frauds. Effective internal controls, anti-fraud training, and good ethical tones from
management should be implemented to help prevent fraud from occurring.
TRUTHBEHINDNUMBERS.COMIn-Depth Experience and Unparalleled Expertise
QUESTION #5What are typical traits for someone
committing fraud? While not true in every instance, our experience
indicates various red flags are employees who are living beyond their means, employees refusing to take
vacation, and those who exhibit excessive control issues in the workplace.
TRUTHBEHINDNUMBERS.COMIn-Depth Experience and Unparalleled Expertise
THANK YOUFOR VIEWING THIS PRESENTATION
PRESENTATION BY: VERITI CONSULTING LLC8111 E. THOMAS RD. #120 SCOTTSDALE, ARIZONA 85251
TEL: (877) 520-1280 • EMAIL: [email protected] WWW.TRUTHBEHINDNUMBERS.COM
EXPERT TEAM
TRUTHBEHINDNUMBERS.COMIn-Depth Experience and Unparalleled Expertise
Liz Monty, CPA/ABV, CFF, CFE, CVA, DABFA
Managing Director
John White, MBA, CPA/ABV, CFF, CFE, CBA, CrFA, ASA
Managing Director
CONTACT VERITI CONSULTING LLC
CONNECT WITH EXPERIENCED FRAUD, FORENSIC & ECONOMIC DAMAGES EXPERTS
CALL: 877-520-1280EMAIL: [email protected]
PRESENTATION BY: VERITI CONSULTING LLC 8111 E. THOMAS RD. #120 SCOTTSDALE, ARIZONA 85251
TEL: (877) 520-1280 • EMAIL: [email protected] WWW.TRUTHBEHINDNUMBERS.COM