Fraud Investigation, Detection and Prevention
U.S.organizations lose 7% of their annual revenues to fraud. Applied to the projected 2008 UnitedStates Gross Domestic Product, this 7% figure translates to approximately $994 billion in fraud losses. (Source: ACFE 2008 Report to the Nation on Occupational Fraud & Abuse)
At APH CPAs, we have found the best way to limit the financial risk imposed by fraud is prevention. Our auditors and consultants are experienced in recommending and implementing internal financial controls and establishing best practices for effective fraud prevention. By setting up proper control systems, policies, and procedures, your business can significantly reduce its risk exposure to internal fraud.
10 warning signs fraud may be occurring in your business/organization
1. Increased void or refund transactions by individual employees
2. Altered or forged deposit slips
3. The same person writing the checks also signs the checks
4. Excessive voided or missing checks
5. Decreasing cash sales, relative to credit card sales.
6. Forged or missing void or refund documents
7. Altered cash register receipts
8. Multiple refunds or voids just under the review limit
9. Customer billing and payment complaints
10. Compared with gross sales, decreasing net sales (increasing sales returns and allowances)
Our internal fraud control efforts are led by our Certified Fraud Examiner and managing partner, Lisa L. Patterson, CFE. Lisa has investigated fraud cases ranging from small closely held business with trusted bookkeepers to large credit unions. Lisa is available to help your business conduct a fraud risk assessment, perform an internal fraud investigation, or testify in fraud litigation cases.
For any questions regarding fraud detection services, please contact Lisa L. Patterson, CPA, CFE