Organizations lose an estimated five percent of their annual revenues to fraud, according to a 2012 report released by The Association of Certified Fraud Examiners. In the study, they found the median loss caused by occupational fraud cases was $140,000, with more than 20% of the cases resulting in losses of at least $1 million. The smallest organizations suffered the largest median losses due to fewer anti-fraud controls.
You do not have to look very far today to find examples of fraud in the news. From corporations the size of Enron and WorldCom to small closely held companies and not-for-profit organizations, no entity is immune from the risk of criminal acts. When one considers the fact that only a fraction of fraud cases are actually discovered, it makes most business executives wonder if they are doing enough to detect and prevent fraud in their ranks.
As CPAs and fraud examiners, our skilled professionals identify, expose, and prevent weaknesses in three key areas: poor corporate governance, flawed internal controls, and fraudulent financial statements. Our forensic accounting skills can be relied upon within a corporate reporting system that emphasizes its accountability and responsibility to stakeholders.
Below are offerings we can provide to help ensure you are doing all you can to protect your business’s profitability and reputation:
- Forensic Accounting & Fraud Examination
- Integration/Due Diligence Assistance
- Internal Investigations
- Policy & Procedure Evaluation
- Internal Control Review
We can help you better understand whether your organization is doing what you can to prevent or discover instances of fraud. For more information, please contact one of our team members below.
Contact for this Service
Dan Hayes, CPA, Partner