We help organizations prevent and detect financial loss and reputational damage.
CaFFA offers a full range of forensic accounting services to investigate, prevent, detect and deter fraud. We assist organizations combat and manage the risk of fraud and misconduct including financial investigation services, fraud audits, fraud risk assessments, fraud awareness training, monitoring projects designed to detect fraud, enhancements in internal controls to prevent fraud from happening again and forensic accounting services in dispute matters.
Financial investigation services and Fraud Audits
When fraud or misconduct has occurred we quantify the exposure, identify the perpetrator, gather all the facts and circumstances, and identify the internal controls to prevent it from happening again. We have deep experience conducting fraud interviews and quickly getting to the bottom of the issue at hand, while treating the matter delicately and confidentially. Our extensive investigative experience includes cases related to but not limited to:
- Conflicts of interest
- Procurement fraud
- Vendor fraud including shell vendor schemes
- Expense reimbursement fraud
- P-card fraud
- Resume fraud
- Grant fraud related to unallowable expenses and inappropriate use of funds
- Financial reporting fraud including earnings management, contributions management, revenue recognition schemes and rebate accounting
- Misappropriation of assets including embezzlement
Fraud risk assessments
- We identify where your organization is vulnerable to the risk of fraud starting at the entity level and working down through all your processes, using a risk based methodology. For example, we work with you to identify your greatest vulnerabilities given your organization’s environment, structure and industry. We determine what departments to focus efforts depending on your organization’s potential inherent fraud risks (regulatory risk, legal issues, IT risk, reputation risk, incentive programs, recent complex business transactions, opportunities for collusion) - and conduct the fraud risk assessment as a component of your enterprise risk assessment. As part of the assessment, we identify the internal controls you currently have in place to prevent the fraud risks identified. If gaps exist we will help you design and implement mitigating controls. Summaries of the fraud risk assessment can be provided for third parties such as external auditors, banks, or insurers.
- We teach Internal Audit Departments how to perform fraud risk assessments that are appropriate for the size and complexity of their organization.
Fraud awareness training
- Training is known to be one of the top five preventive measures for fraud. We customize fraud training and make it specific to your organization’s needs and past experiences.
Monitoring projects designed to detect fraud
- We customize monitoring projects for organizations to identify fraud before losses become extraordinary.
- We use forensic accounting techniques and data analytics to identify financial statement fraud, misappropriation of assets and corruption such as:
- General ledger analysis for key journal entries
- Computer forensics to recover and process key documents and emails
- Accounts receivable analysis to identify revenue recognition schemes
- Vendor payment and contracts, and payroll analysis to identify and quantify financial loss
- Valuation of equity investments and accounting thereofCash analysis to identify illicit payment.
Enhancements in internal controls to prevent reoccurrence of fraud
- We help organizations that are required to remediate by designing a Fraud Risk Management Program for them that is commensurate with their size.
- We update current policies and procedures to ensure that the risk of fraud is adequately addressed.
- We perform fraud risk assessments for our clients or train our clients on the methodology so a gap analysis can be performed and mitigating controls can be implemented
- We document internal controls and determine their design adequacy and operating effectiveness to prevent fraud
Forensic Accounting and Litigation Support
- We provide forensic accounting and investigative services related to financial disputes, litigation and fraud.
QuickBooks and Bookkeeping Services
- We are QuickBooks Online Certified
- We can help set up your bookkeeping system
- We can provide your bookkeeping services so you can focus on your business!
- Often poor bookkeeping and internal controls lead to fraud!