Corporate Frauds go unnoticed till they snowball into a bigger problem impacting performance and productivity of your business. Apart from the financial loss, corporate frauds create fissures in the good will and trust, the stakeholders have with your brand/business. In the light of a Fraud, it becomes imperative to carry out a thorough investigation along with fraud risk assessment to prevent the recurrence of the crime in future.
What is Fraud Risk Assessment?
Fraud risk assessment will identify as to how exposed or vulnerable your business is to Corporate frauds or white collar crimes. Fraud risk assessment will address certain areas that are tangible and intangible. These include:
- Review of critical reports that show steep decline in company profitability, performance or an inexplicable rise in operational expenses.
- Review of audit controls for frequent large purchases and base documents supporting the same
- Identification of lack of documentation or missing entries in account books exposed during audit time
- Accountability of employees involved in financial bookkeeping
- Compliance with company’s security and auditory controls
- Confidentiality and integrity of critical documents of the company maintained.
- Check for time thefts, drug abuse and other gambling activities that are leading to siphoning of funds and slack performance
Fraud risk assessment aids in identifying lapses and exercising controls in the company’s security structure. A detailed report on fraud risk exposure forms a base document in the incidence of corporate frauds and investigations pertaining to the same.
The spectrum of Corporate Investigations services will cover
- Frauds of civil and criminal nature
- Infringement on/theft of intellectual property
- Embezzlement issues
- Violations of company policies
- Detecting corrupt practices
- Blue collar crimes
- Time theft
- Kickbacks and other related crimes
Experts in fraud assessment and corporate investigations services, Danbee offers end-to-end support in corporate investigation by
- Checking for security non-compliance: By identifying the security lapses and violations that have led to the incident
- Providing litigation support : Helping through legal counsel to gather evidence and hear our witnesses to ease out the proceedings in the investigation
- Carrying out vulnerability assessments: To assess the risk exposure and propose measures to minimize it
- Cyber Security check points: With cyber crimes on the rise, online security is as crucial to maintain the integrity of your online data warehouses. Danbee checks for software/system vulnerabilities and enforces practices that will help safeguard your online data.
Fraud risk assessment and corporate investigation shed light on the hereto invisible operational lapses in a company’s structure. Danbee’s with its modern methodologies in investigation is prompt and quick to deliver results.