Fraud & Forensic Investigations

Our forensic audit team combines the latest computer applications along with good old fashion super-sleuthing in each investigation.  We work closely with legal and law enforcement professionals to maximize the success of criminal prosecution.

Organizations lose an average of 5% in revenues to fraud each year, and more than $3.5 trillion in total worldwide!  Foremost, we help our clients with fraud prevention through recommendations for superior internal controls, effective use of tip lines, and robust internal and external audit efforts.  Should a suspected crime occur, we step in immediately to assist with limiting the potential loss and investigate timely to bring case closure and stem the risk of future fraud losses.

BEWARE THE FRAUD TRIANGLE:  MOTIVE, OPPORTUNITY, AND RATIONALE

How would your organization’s internal control structure hold up against a fraudsters attack?  The motive and rationale of a fraudster are difficult for an employer to control.  Add some competence on the fraudster’s part, and hubris and you have a recipe for disaster!  However, all is not lost!  Employers can control “opportunity,” through robust internal controls that segregate duties, provide supervision and review, reconcile accounts, secure tangible assets and policies that hold employees to the highest ethical standards.  We can help you assess the risk of fraud, provide you with a Fraud Prevention Check-Up, and recommend means to strengthen your organization’s defenses!

Our firm’s 30+ years of experience auditing Local Educational Agencies has found these areas are among the most common fraud hotspots:

• Associated Student Body accounts – decentralized cash receipting is fraught with fraud risk, inappropriate expenditures a concern

• Booster Clubs – if not well managed, a club can run amok giving the LEA a public “black eye”!

• Cash – cafeteria, childcare, central cashier, transportation fees, facilities use fees, adult education fees, fines, and more!

• Inventory – supplies, cafeteria, maintenance, transportation, and technology equipment

• Procurement and accounts payable - kickbacks, bid-rigging, over-billing schemes, fictitious vendors, travel and expense reporting

• Major capital projects and repairs – big dollars equal huge fraud risk potential!

• Payroll – with over 80% of the budget spend on personnel; payroll is ground zero for fraudsters, beware of ghost payroll, overtime abuse, benefit fraud, and more!

• Conflict of interest – anyone with influence in your organization might develop conflicts of interest that need to be properly disclosed or risk fraud abuse

YOU SUSPECT FRAUD, WHATS NEXT?

First off, remove the suspect from the records and preserve the records for investigation.  Next, assemble the fraud investigation team.  Include on your team human resources, your organization’s attorney, and your fraud examiner.  As your fraud examiner, Christy White, Inc.  will help guide you through the investigation, find out the facts and bring those culpable of fraud to justice.  Please contact Christy White or any of the Firm Partners if interested in fraud investigation services.

When Expertise Matters Most

Investigations often involve:

• Complex financial transactions

• Legal considerations

• Reputational risk

Our team works discreetly and effectively to uncover facts and support resolution.

Our Capabilities

• Forensic data analysis

• Transaction tracing

• Internal control evaluations

• Litigation support

Technology-Enhanced Investigations

We utilize advanced tools and analytics to:

• Identify anomalies

• Analyze large datasets

• Detect patterns of irregular activity

Outcomes

• Clear, defensible findings

• Support for legal proceedings

• Strengthened controls to prevent future issues