According to the 2010 Report to the Nations on Occupational Fraud and Abuse, 42% of victim organizations were privately owned companies. Small organizations (those with fewer than 100 employees) experienced the greatest percentage of the frauds. The median loss for frauds committed against these small organizations was $155,000 per occurrence. Since the majority of our clients are small to medium size organizations, we have committed substantial resources to assist our clients in the battle against fraud. With these resources, we are better positioned to investigate and report on instances of fraud and abuse.
Forensic accountants utilize investigative accounting and auditing strategies to decipher and communicate financial information. We look beneath the surface numbers to determine and quantify the business reality and financial impact of the situation. The analysis is often a determining factor in litigation and settlement situations.
Forensic accountants are often retained in investigations and insurance claims involving business valuation, financial trends, quantifying loss and fraud. Because of the broad range of applications, forensic accountants possess a well-rounded skill set combined with an inquisitive approach to financial histories. This enables forensic accountants to reveal a clear and relevant financial picture in complex situations