FORENSIC ACCOUNTING & FRAUD PREVENTION
Team BNW offers comprehensive services in planning, implementation of proper Internal Controls to prevent embezzlement & possible frauds. We also offer services for timely detection of weaknesses in internal controls and the ways and means to correct the same.
We apply analytics tools and accounting skills to investigate fraud or embezzlement and to analyses financial information for use in legal proceedings. Forensic accountants are also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial.
Forensic analytics is a four-tier procedure which start with data collection, proceeded by data preparation, quantified with data analysis, and concludes with reporting and court proceedings.
Our methodology for forensic accounting is a tree-dimensional approach in which we ensure:
- Prevention : Steps-up your financial security and avoids loopholes through an active vigil mechanism.
- Detection : Ensures primary and precise fraud detection with use of various analytical techniques from different disciplines.
- Investigation : A hybrid approach that combines multiple methods to look beyond the per-defined norms and fix the loopholes.
Forensic auditing’ refers to the specific procedures carried out in order to produce evidence. Audit techniques are used to identify and to gather evidence to prove, for example, how long the fraud has been carried out, and how it was conducted and concealed by the perpetrators. Evidence may also be gathered to support other issues which would be relevant in the event of a court case. Such issues could include:
- Suspect’s motive and opportunity to commit fraud
- Whether the fraud involved collusion between several suspects?
- Any physical evidence at the scene of the crime or contained in documents
- Comments made by the suspect during interviews and/or at the time of arrest
- Attempts to destroy evidence.
- Vigilance : Helping companies prevent fraud or minimize its losses by finding and plugging loopholes in the internal audit and control system at a elementary stage.
- Financial Forensic : Utilization accounting, auditing and investigative skills to analyze a company’s financial statements for possible fraud in conjunction with anticipated or ongoing legal action.
- Data Analysis : Identify odd-lot financial transactions by use of data analytics tools and software to inspect and resolve frauds.
- Digital Forensic : Screening of digital devices, including mobile, computer and laptop, to find and audit unusual mails and documents that can point out a fraud.
- Corporate fraud
- Inappropriate accounting/ Employee fraud/ Transactional frauds
- Identity theft/Forged instruments
- Money laundering/ Diversion/Siphoning of funds