Fraud Investigation
FINANCIAL AND SOURCE DOCUMENT FRAUD INVESTIGATIVE SERVICES
- Payroll fraud
- Employee fraud
- Identify false reporting
- Determine whether books have been manipulated
- Identify and analyze forgery of financial documents
- Trace and review related party transactions and preferential treatment
- Review manual journal entries
- Analyze accounts receivable aging and trends
- Examine suspicious vendor relationships
- Examine suspicious financial performance by subsidiary or JV
- Investigate financial statement restatements
- Detecting asset misappropriation
- Assisting your attorney with conducting interviews, evidence gathering and analysis, report preparation, and testifying
FRAUD PREVENTION SERVICES
- Assessing fraud risk and illegal acts
- Consultations with the Board of Directors
- Evaluating adequacy of internal control systems (internal control assessment)
- Designing and implementing internal control procedures
- Proactive fraud auditing
- Consulting about employee bonding
False Claims Act
So you made a “mistake” on your spreadsheet or invoice. Depending on the circumstances, if you billed the federal government more than you should have, you may have just violated the False Claims Act. If you are in healthcare, along the way, you may have also violated the Anti-Kickback statute and Stark law unintentionally.
False Claims Act Services
We can assist federal contractors and healthcare providers with:
- Contract cost analysis
- Claims analysis
- Evaluation and calculation of alleged damages and penalties
- Assessment and testing of medical claims
- Evaluation of ability to pay
- Negotiation assistance and support
- Expert reports or testimony
Forensic Accounting
Forensic accounting, unlike financial statement audits, delves deep into the targeted company, account, or transaction. Materiality is of no consequence because forensic accounting is about the facts and evidence. What happened and what is the evidence? Whether you suspect an account balance is incorrect or just need to know what if anything happened during a transaction, forensic accounting can support the answer.
BANK COVENANT COMPLIANCE – a required audit from a bank, such as when applying for a loan
- Calculation of covenant ratios
- Forensic evaluation of trends in noncompliance
- Forensic accounting of specific accounts or balances
FORENSIC ACCOUNTING OF PAYMENTS
- Terminated employees
- Retro-adjustments
- Subcontractor payments
Commercial Damages
If you are involved in commercial litigation or a contract dispute, we assist with calculations for economic damages that pertain to breach of contract, business interruption claims, torts, or insurance claims. Breach of contract could include noncompete agreements, sales commission agreements, contractor delays, joint venture agreements, employment contracts, franchise agreements, or sales of business. Tort claims could include negligence, fraud and theft, damages to property, defamation, or intentional interference.
COMMERCIAL DAMAGES SERVICES
We can provide financial expert services for:
- Lost profits analysis
- Verify extra costs associated
- Contract cost and claims analysis (including government contracts)
- Analyze lost cash flows
- Review mitigation of damages
- Analyze or assist in calculating restitution
- Analyze or calculate business interruption
- Determine lost value of business
- Expert report or testimony
Litigation Support
We can help in discovery, information seeking interviews, third party collaboration, and other areas of ligition.
DISCOVERY
- Identification of documents to request
- Request for production of financial documents
- Interrogatories advising
- Deposition assistance
INFORMATION SEEKING INTERVIEWS
- For understanding of accounting and reporting processes
- For obtaining financial and accounting issues or disputes from auditors
THIRD PARTY COLLABORATION
- Confirmation requests of banks, suppliers, and vendors
- Industry benchmarks
TRANSACTION TESTING
- Examine calculations of contractual obligations (taxes, royalties)
- Verify recording of transactions in the financial and accounting systems
- Analyze whether all contractual obligations are captured in financial and accounting systems
Fact Finding
- Collection of relevant business and industry relevant data
- Assistance obtaining and authenticating business evidence
- Asset searches
- Market studies
- Review financial and accounting systems
- Interview witnesses
- Due diligence
- Shareholder disputes
NEGOTIATION
- Provide perspective on GAAP
- Case evaluation for strengths and weaknesses of positions
- Examine financial and accounting
- Prepare questions for opposing party’s financial and accounting witnesses/experts
- Assist with terminology
CASE ASSESSMENT AND STRATEGY
- Assist in evaluating strengths and weaknesses
- Analyze GAAP issues
- Examine financial and accounting issues
TRIAL ASSISTANCE
- Formulating effective questions with regards to financial and accounting
- Translating accounting terminology
- Developing follow-up
- Analyzing expert witness work
- Providing GAAP analysis
SETTLEMENT
- Assistance with terms and negotiations in regard to accounting
- Oversee payments
SHAREHOLDER/PARTNER ADDITIONS, BUYOUTS, AND DISPUTES
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Internal Control Assessment
The best deterrent to fraud is prevention. An internal control assessment can bring to light deficiencies in your best line of defense against financial fraud. We assess your internal control systems to determine the efficiency and effectiveness of your operating and accounting procedures. Afterwards, we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating and accounting procedures we find that don’t add value to your internal control systems.
WHAT WE CAN DO FOR YOU TO ENHANCE YOUR INTERNAL CONTROLS…
- Redesign segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
- Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
- Ensure records are routinely reviewed and reconciled, by someone other than the preparer or person making the transactions, to determine that transactions have been properly processed.
- Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on internal control records.
- Assist with providing employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties that violate internal controls.
- Document policies and procedures and make them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
- Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.
Joint Venture / Shareholder Disputes
Equity investors and joint ventures are critical to kick starting a business and propelling it to the next level. However, some of the worst business decisions could be the partners that you select to bring into your circle.
JOINT VENTURES
- Evaluating compliance with cost and revenue sharing agreements
- Evaluating billing and payments
- Fraud audit of joint venture financial reporting and record keeping
- Forensic audits of specific accounts, vendors, and payments to related parties
SHAREHOLDER DISPUTES
- Analysis of buyout agreements and financial impact
- Tax implications of buyout on remaining shareholders
- Forensic audits of specific accounts, transactions, and payments to related parties
Contract Compliance Testing
Contract compliance examinations or audits are useful when you need assurance that you are complying with federal and state regulations or contract terms for payments, billing, and financial reporting.
CONTRACT COMPLIANCE
- Requesting payments and billing within contract terms and clauses
- Evaluating transparency in financial reporting
- Forensic accounting of transactions, pass-through costs, and pricing data
- Evaluating compliance with specific regulations required by the government contract
GOVERNMENT CONTRACT COMPLIANCE HOT SPOTS
- Service Contract Act (SCA)
- Fair Labor Standards Act (FLSA)
- Davia Beacon Act (DBA)
- Department of Labor (DOL)
- False Claims Act (FCA)
Patents & Intellectual Property
New ideas and innovations take a lot of time, effort and sacrifice, and you should be compensated for them.
Whether its patent infringement, copyright infringement, trademark infringement or trade secret misappropriation, we provide litigation consulting services to assist in making sure you get what you’ve worked so hard for by:
- Analyzing loss profits due to infringement
- Calculating actual damages for infringement
- Determining a reasonable royalty for infringement
- Testing license and royalty payment transactions
- Confirming all royalties are included
- Ensuring proper basis of accounting
- Calculating damages due to lost value