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Fraud and Embezzlement Investigation refers to the investigation of activities including:
- The misappropriation or misuse of funds by employees or others
- Phantom employees or creditors
- Unexplained inventory losses or theft
- Payment of bribes and / or kickbacks
- Intellectual property theft
- Accounts receivable fraud including lapping and kiting
- Underreporting of sales, royalties or licensing fees
- Theft or misuse of proprietary information by employees, partners or others
A fraud investigation typically utilises a combination of investigative, accounting and computer skills to identify and document relevant transactions or events to reveal them in their true light. This can involve the reconstruction of accounting records over many periods in order to perform an analysis of the data and collect evidence to determine the real substance of the transactions and their ramifications. This information can then be documented and presented in a manner that can assist in legal proceedings.
A typical fraud or embezzlement investigation may include aspects of the following:
- Interview staff or other relevant persons to obtain statements and information that could assist in the investigation
- Conducting forensic investigation of computers if applicable
- Identification, accumulation, collation and securing relevant information and documents
- Liaising with relevant parties (as applicable) such as management, lawyers, auditors, etc
- Documentation of analysis of relevant information
- Preparation of a detailed report outlining evidence and its methods of accumulation, calculations, and most importantly, the quantum of loss or damages
- Provision of litigation support services to legal counsel
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