Forensic & Integrity Services
Forensic & Integrity Services
Prevent, Detect, and Deter Fraud
Geffen Mesher’s Forensic & Integrity Services Group specializes in assisting clients with fraud prevention, detection, and deterrence.
Who We Serve
We provide forensic services for clients across a variety of industries, regardless of size, revenue, and management structure. In our view, if oversight is lacking and controls are a concern, then fraud is possible.
Exposing Occupational Fraud
A recent report on occupational fraud by the Association of Certified Fraud Examiners (“ACFE”) reveals:
- The median loss was $140,000, while nearly 20% exceeds $1 million
- The average fraud scheme goes for 18 months before detection
- Smaller organizations (fewer than 100 employees) are disproportionately victimized
- More than 87% of those perpetrating fraud had never been previously charged with a crime or terminated from their previous employment
- Less than 6% of those perpetrating fraud are new hires (those employed for a year or less)
- The accounting personnel are responsible for 22% of the frauds
- Increasing the perceived risk of detection is the single greatest deterrent to fraud
- Fraud prevention can be far less costly and disruptive than detection
Learn more about the ACFE and read the entire Report to the Nations at www.acfe.com or give us a call for a complimentary copy.
We frequently begin with a fraud prevention consultation. During this initial consultation, we perform a fraud risk assessment which may include:
- Identifying those areas in which your company may be most susceptible to fraud
- Evaluating and assessing risk factors or red flags common to your company’s industry
- Evaluating the design of your company’s internal control structure, with a specific focus on controls surrounding cash
- Confirming whether your internal controls are operating effectively
- Evaluating your information technology (IT) systems and controls to determine if the appropriate systems and controls are in place to meet the needs of management
- Providing you with “best practice” recommendations, customized based on your company’s operations and its industry
- Performing an assessment of key financial ratios, including benchmarking your company against your competitors and/or industry peers
Once the initial fraud consultation is complete, we will work with you, as necessary, to develop a comprehensive customized program to address any fraud risks identified during the initial assessment, including:
- Investigating any identified red flags
- Remediating any significant weaknesses in your company’s control structure
- Performing forensic analysis using analysis software
- Investigating transactional risks identified
The initial fraud prevention consultation is intended to provide you with a report card on your controls and IT systems, while follow-up services are designed to support management in responding to risks identified, and deterring future occurrences.
Top 10 Recommendations – Check out this link for actionable recommendations for business owners who would like to increase their fraud awareness and protection.
A good forensic accounting team possesses the desire to dig, delve, ask questions and consider all possible scenarios.
Dave Porter, CPA, CFE, PI, Shareholder
Real Stories, Real Results
Services: Geffen Mesher’s forensic team worked with the client, state law enforcement and prosecutors to provide forensic analysis of the company’s accounting and provided grand jury testimony
Outcome: The matter resulted in multiple felony indictments, plea bargain, prison sentence, insurance claim settlement and stronger internal controls
Services: The Geffen Mesher Forensic Accounting Group provided forensic analysis of the company’s accounting records while working with the client, a federal law enforcement agency and legal counsel.
Outcome: The matter resulted in multiple felony indictments, plea bargain, prison sentence, insurance settlement and stronger internal controls
Services: Our firm’s forensic group provided forensic analysis of the company’s accounting while working with the client to seek restitution from its Controller.
Selected by the buyer’s counsel and the seller’s counsel in the resolution of disputes arising from an Asset Purchase Agreement regarding the calculation of working capital and various questions of accounting principle.
Geffen Mesher functioned as the independent arbitrator in this matter.
Engaged by the successor trustee to investigate the performance of the original trustee’s (who was also a beneficiary) fiduciary responsibilities.
Geffen Mesher served as experts to the court, and not the plaintiff or defendant.