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Q: What do I do if I suspect an employee is stealing from me?
A: Rather than confront the employee yourself, you should involve a Certified Fraud Examiner who is trained to look for and confirm evidence of fraud.
Q: Why can'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 are trained to seek out the unknown and to make a determination as to whether or not a fraudulent transaction or action has occurred.
Q: What kind of special training do Certified Fraud Examiners have?
A: Certified Fraud Examiners have a unique set of skills that are not found in any other discipline; they combine knowledge of complex financial transactions with an understanding of law, criminology, investigation and how to resolve allegations of fraud.
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: The purpose of the Fraud Risk Assessment is to identify major gaps (Fraud Risk Factors) in your organization’s fraud prevention processes and recommend the necessary anti-fraud controls to deter and detect fraud in your organization.
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) in conjunction with a Certified Fraud Examiner.
Q: What is the difference between a proactive and a reactive fraud specific investigation?
A: Proactive fraud-specific investigation assumes that fraud may or may not exist and the sole purpose of the investigation is to determine whether or not evidence of fraud exists. Reactive fraud-specific investigation 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 invest in such training. Educating owners and managers about common fraud schemes and how to recognize the red flags that signal wrongdoing as well as how implement controls to deter and detect fraud schemes is important in protecting your organization from becoming a victim.
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