Fraud Prevention Services
On average nationwide, fraud is responsible for the loss of 6 percent of a company’s revenues. And, 40 percent of fraud victims never recover any of their loss. Asset misappropriation is the most common type of fraud, whether it’s skimming money off the books or theft of inventory or property.
What can be done to stop or prevent fraud in your organization?
The CPAmerica International network has firms across the country that employ CPAs and business advisers who are experts at detecting fraud and designing fraud prevention programs. The firms’ professionals use accounting and auditing skills to analyze financial records, identify inconsistencies and investigate illegal accounting practices or theft.
Our member firms’ professionals also specialize in developing a system of internal controls at all levels of the organization. They become acquainted with your business and its operation and then review the reliability of the information that supports your management decisions. Our firms use accepted professional standards to assure you are not at risk for fraudulent activity in your business.
CPAmerica member firms’ knowledge extends to such areas as risk management, asset and data protection and regulatory compliance.
In developing a fraud prevention program for your organization, they:
- Assess potential fraud risks and exposures
- Review existing internal controls
- Report findings of current exposure and deterrence measures
- Recommend enhanced controls
If fraud is detected during the prevention assessment, CPAmerica member professionals can investigate, in conjunction with an attorney, to gather the evidence needed to prosecute. They can then serve as expert witnesses as to financial losses and damages.
If you want to assess your company’s vulnerability to fraud, contact a CPAmerica firm for professional assistance.
