Detect. Stop. Prevent.
The Report to the Nations on Occupational Fraud and Abuse cites that most frauds last a median of 18 months before being detected. It can be difficult for the lay person to detect and quantify fraud. That’s why we’re here.
Cost Advisors has been helping attorneys and companies detect, stop and prevent fraud for more than a decade. Our forensic accounting consultants are critical thinkers who can:
- Identify the perpetrators and the methods they use
- Quantify the extent of the fraud
- Collect evidence to dismiss and/or prosecute the perpetrator
- Implement preventative controls
Increasingly, our clients require expert computer forensic services to collect, analyze and present digital legal evidence. Using specialized processes and tools, we can discover and preserve electronic evidence so that it is admissible in court. Our forensic experts leverage broad technology experience and best practices to:
- Recover lost data
- Discover hidden data
- Make mirror copies of hard drives and other storage media
- Crack passwords
- Analyze Internet usage
- Determine event timelines
Our proven framework ensures success
Our clients count on us for proficient, high-quality project management skills that are rooted in a consistent and reliable framework. Based on five key principles—Governance, Assessment, Prevention, Detection and Correction—this framework allows us to look at all sides of a problem, explore root causes and use a feedback loop to improve the process. It also ensures we address all of our client work in the most thorough and cost-efficient manner.
Fraud Governance
An organization’s governance structure should lay the groundwork for its fraud risk management program. We can establish:
- Board practices
- Roles and responsibilities
- Fraud control policies and strategies
- A whistleblower process
Fraud Assessment
Periodically assessing your risk of exposure to fraud is essential to prevention. Our consultants are skilled at:
- Process mapping
- Vulnerability identification
- Risk evaluation
Fraud Prevention
We can educate staff about fraud risk and implement controls that halt losses before they occur. Our expertise in this area includes:
- Hiring and HR procedures
- Employee training
- Internal controls
Fraud Detection
These days, fraud detection techniques are a business imperative. Should your preventive measures fail, our detection measures are likely to identify fraud:
- Computer forensic analysis
- Detective controls
- Analytical review
- Data mining using our proprietary software, Reperio®
- Continuous monitoring
- Vendor contract fraud
Fraud Correction
Our investigation and evidence collection procedures correct potential fraud and improve loss recovery. Our consultants can provide:
- Economic damages calculations
- Detailed scheme reporting
- Allegation response
- Legal testimony