Fraud Examination, Internal Controls & Litigation Support

Fraud Examination

AdvisoryServicesFraud costs businesses and other organizations in the United States, on average, 5 percent of their annual revenues and can go on for years without being detected. Gumbiner Savett knows our clients require much more than fraud investigation and detection. They require fraud prevention.

Although any company can be a victim of fraud, your company could be more susceptible based on the nature of your business. A large volume of cash transactions, an owner that is not on the premises, marketable inventory, a lack of accounting controls, multiple locations, international purchases and sales, and a large number of transactions can make your business more vulnerable to potential fraud.

A key aspect of the services we provide is educating our clients about fraud prevention and setting up internal controls that help deter fraud before it occurs. Controls such as implementing a fraud reporting mechanism, establishing an ethics officer and developing a corporate code of conduct are key to mitigating a company’s risk of fraud.

We take careful steps to root out existing fraud and identify security lapses and theft opportunities.

To discuss typical fraud schemes such as: theft of incoming checks, purchasing schemes, returned payment schemes, fraudulent billings from a shell company, false shipment, forged endorsement schemes and theft of inventory, contact our corporate fraud specialists.

We take careful steps to root out existing fraud and identify security lapses and theft opportunities:

  • Internal controls: We entrench ourselves in our clients’ operations, looking at existing internal controls and identifying assets susceptible to fraud
  • Security lapses: We identify security lapses such as unauthorized access to inventory and financial records, checks and warehouses – which fraudsters typically target
  • Records: We look at how fraudsters can cover up fraud in the underlying accounting records
  • Education: We educate our clients about how fraud typically occurs in today’s environment and set up and monitor internal controls that deter fraud in order to protect their bottom line