Forensic Accounting & Audit Services
The Association of Certified Fraud Examiners reports that fraudulent activities cost American business approximately 7% of total revenues in 2008. If you are concerned about the reliability and integrity of you business reporting systems, consider our Forensic Audit Services.
We find the "Smoking Gun."
At ARC, we go beyond the simple forensic accounting and auditing where other firms stop, to the core of the fraud. We find the root cause of the fraud, the controls that broke down, and then we tell you how to fix it. We can provide a complete array of investigative services, from pre-employment investigations to asset protection and loss prevention / detection investigations. We evaluate the basic structure of your business, from the integrity of your sales force, to the honesty of your inventory and cash management professionals, to the security of your key business assets, both tangible and intangible, to the comprehensiveness of your internal and external financial audits.
Range of our Services
Our Forensic Audit Services Team specializes in the following areas:
What We Do
Our Forensic Audit Team is committed to assisting our client organizations identify both the perpetrators of fraud, and the areas that are at risk for future fraudulent activities. Through our unique approach, we can rapidly identify the "Smoking Gun," thereby enhancing the potential of apprehending the person or persons responsible for the improper or illegal act. We work directly with your legal council to ensure the admissibility of evidence, utmost discretion, and total support through to the desired resolution of the situation.
With organizations cutting people, the ability for some form of financial fraud to occur is higher than ever. The state of today’s economy creates a set of unique pressures and opportunities for individuals to defraud your clients. Whether it is Occupational Fraud, False Financial Reporting, or determining damages, we can help.
Is your litigation staff finding all the potential damages in your civil and
corporate litigation, and fraud cases? |
We Do |
| Does the forensic evidence generated to support your cases stand-up to
intense scrutiny? |
Ours Does |
| Can your Expert Witness explain complex financial concepts to the jury in simple layman's terms? |
We Can |
For the past 20 years, we have supported law firms, corporations and organizations, both domestic and international, find the truth in financial reporting.
We find the financial misstatements in
- Corporate reports
- IPO’s
- Personal financial statements
- Mortgage applications and other filings and documents –
But we go further,
- We find the “Smoking Gun.”
- We find the perpetrator.
- We tell you how they did it and how they hid it.
- We will also show how the organization can prevent it in the future.
Details of our Range of Services
Smoking Gun” Investigations
At ARC, we find the root cause of the fraud, or what we call "The Smoking Gun." Fraud has different connotations in different industries. Fraud perpetrated by employees usually relates to thefts and embezzlements through A/P, Travel Reimbursement or Payroll schemes.
Financial Reporting fraud typically relates to senior management intentionally manipulating the financial reports for gain, or to cover poor performance. Bank fraud covers a wide range of activities from check kiting to bad loans.
The most important aspect of any "Smoking Gun" investigation is to obtain the facts. At ARC, we continually strive to obtain the right legal evidence to support litigation.
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Forensic Accounting
Forensic Accounting covers a wide range of services, including
- Reconstructing records accidentally or intentionally destroyed
- Vouching and tracing transactions and validation of supporting documentation
- Analyzing financial results
- Determining the completeness and accuracy of financial reports.
ARC has worked with a wide range of clients to assist with:
- civil litigation matters
- corporate investigations
- domestic disputes and divorce matters
- searching for hidden assets
- due diligence reviews
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Creation of the Fraud-Resistant Organization
An Ounce of Prevention is worth a Pound of Cure!
Our Fraud Prevention Services are dedicated to evaluating the entire internal control and complete security (physical and electronic) of your organization. Any control can be circumvented if the perpetrator works hard enough. The key is to establish an "Early Warning System" as a line of defense against a second strike. Some of the typical strategies include:
- Documentation and distribution of all organizational policies
- Thorough screening of potential and existing employees
- Ongoing background checks
of all employees
- Establishment and maintenance of an adequate and effective internal control environment
- Segregation of the three key activities of any transaction
- Document your financial policies & accounting procedures
- Rotate financial responsibilities periodically
- Periodically sample policies & transactions for compliance
- An adequate and effective Internal Audit Function
- Development of a "Whistleblower" hotline
- Bonding of all employees with access to valuable and moveable assets
But this is not enough. At ARC, we know the Bad Guys know this. We go beyond the typical "Line of First Defense" to evaluate the controls that detect fraud the moment it is perpetrated. Our clients understand that this is a war. We win the war.
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Expert Witness Testimony and Litigation Support
Today's legal team needs effective forensic accountants more than ever. In addition, the forensic accountant, acting as an "Expert Witness" must possess the verbal skills to simply and factually relate their findings to a jury made up of non-financial layperson's. Astute legal professionals realize that their litigation support and expert witnesses must not only be seasoned accountants who know their way around a balance sheet, but effective communicators as well. .
At ARC, we know the ropes from requesting the right documents through to delivering effective and sound expert testimony. We have done it all. All of our forensic accountants have over 20 years of hands-on audit experience. In addition, they also are skills leaders of professional development seminars.
In essence, we teach the professionals that other firms hire. ,
At ARC the litigation support services we provide include:
- obtaining adequate financial records
- validating cash records and finding hidden assets
- determination of loss
- reviewing seized records for authenticity and adequacy
- reconstructing missing financial reports caused by internationally record destruction
- preparing questions for interrogatories and depositions
- reperformance of transactions and detailed tests of transactions
- valuation of assets, including homes, businesses, portfolios, art, jewelry, yachts, and other personal and business assets
As auditors, consultants and educators, ARC has extensive experience in both financial statement fraud, employee embezzlement and financial crimes, but also with evaluating the people and the internal controls within organization. We work with your attorneys providing litigation support that ensures you will prevail in your case.
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We would like to meet with you to show how ARC can be a supportive, integral part of your litigation team. We can provide as much or as little support as your firm and clients requires. Please ask your team to call me at (904) 268-1148 for our Schedule of Fees, my CV and to set up a meeting where we can show you how we can help. I look forward to your call.
We can make your company
"Fraud Resistant!"
Our Forensic Audit Services are not just for the big publicly traded corporations. The National Commission on Fraudulent Activities reported that:
- Most cases of fraud were in organizations of less than 100 employees.
- The number of reported fraud cases in publicly held and privately held companies was about equal
- External CPAs were in collusion or knew about the fraud and did nothing in over 50% of all frauds.
Our seasoned team of CPA’s, forensic accountants, legal professionals, and criminal investigators. brings you over 100 years of combined forensic experience to ensure the thorough investigation of every potential avenue. In addition, we combine the review of your internal control structure in every forensic examination to identify other areas of potential fraud. We help close the gate before the horse if gone.
If you want the peace of mind to know you operations are free of financial crime, or if you suspect you have been a victim of fraudulent dealings, if you want to know the depth of any loss, to know why your you are working more and enjoying it less, call on the Forensic Audit Team of The ARC Consulting Group for an in-depth financial investigation.
If you would like a “Red Flag” fraud review, or an analysis of the current system of fraud prevention controls email Mr. Richard T. Balog,CPA, CIA, CGFM, DACFE, or call at 904-268-1148, today for a free, no-obligation consultation. We will show you how our forensic audit team can put and keep your business on solid ground. Click here for our Forensic Audit Services Fact Sheet.
Click Here for Frequently Asked Questions! |
