Fraud prevention is just as important as fraud investigation, in fact, more so as it allows you to potentially avoid the fraud altogether. Certified Fraud Examiners are trained to go into a company and assess the risk of fraud, looking throughout the company processes, from payroll to accounts payable and receivable, procurement, sales, company credit cards, cash management procedures and other areas as applicable to the business, also working with management to recognize the red flags of fraud early.
Red flags may include:
-Extravagant Purchases
-Social Media Posts “Bragging” about Extravagant Purchases and/or Trips
-Sudden Change in Financial Status
-Control Issues Over Finances
-Access to Payroll, Expense Reimbursement and/or Unusually Close Relationship with a Vendor
-Recent Personal Financial Issues and/or Divorce
-Suspicious Behavior
These red flags are only a beginning but certainly something to keep an eye out for as a business owner. If you suspect fraud or would like to properly protect your business against such fraud, let us assess the risk of fraud in your company and properly prepare your business against financial fraud that cost business owners over $7 Billion in 2018. Don’t take the risk of being