Fraud and Regulatory Investigations
Our forensic accountancy team is very experienced in the area of Fraud and can assist with many types of fraud investigations, including civil fraud, employee theft, criminal fraud and proceeds of crime.
The following are key areas to look out for:
Potential Fraud Flags (relating in the main to loss of earnings)
- Inconsistencies in reported absences and/or recovery periods in medical reports;
- Documentation not provided, incomplete or unusual delays in providing requested information;
- Financial constraints evident at time of accident but projections indicate need for significant funds without any reported source;
- Absence of any evidence of mitigation.
Financial Information and Data
- Not provided for period covering the accident and claim advanced on prior year’s results;
- Absence of detailed information to test assumptions made by claimant;
- Business recently started with no historical or background data on claimant;
- Data does not support financial information or assumptions.
- Poorly performing but meteoric success around the corner;
- No impact caused by external factors such as credit crunch/recession;
- Poorly performing both pre and post-accident but post-accident exclusively due to the accident;
- Difficult to tell when accident happened from review of financial information.
In cases of Fraud, we can be instructed as forensic accountants to investigate the possibility that a business is losing money due to a fraud or a theft being perpetrated by one or more of its employees. Once instructed as forensic accountants all of our investigations are conducted in a confidential and prudent way in order not to alert the guilty party of the real reason for our being there.
We usually find that the fraud is larger than originally thought and our investigations often show that the fraud has been going on for a number of years. Our forensic accountancy report will focus on the extent of the Fraud and the weakness in the system that allowed the fraud to take place.
Supporting the Defence in Criminal Prosecutions
We are instructed usually as forensic accountants on behalf of Defendants accused of fraud. Our forensic accountancy report sets out to examine and analyse the evidence prepared by the Crown Prosecution Service and to ensure that the case against the accused is consistent with the evidence brought by the Prosecution.
We often find that the Prosecution has made simple arithmetic errors or drawn wrong conclusions from financial documents. We have been instructed on diverse cases of fraud.