Fraud Prevention, Detection and Response

According to a recent survey by the AICPA (American Institute of Certified Public Accountants), 58% of forensic practitioners expect financial statement fraud by company personnel to increase in the next two to five years. During the same period, 55% of all respondents also expect embezzlement committed by employees to increase. These statistics are alarming, but you can take action to minimize your exposure to these risks. One of the best ways to do that is by implementing preventative measures to eliminate fraud before it happens. Surprising to many, creating the right policies and communicating those policies in the right manner are the number one actions you can take to reduce fraud in your organization. But, that is only the foundation of a well-designed anti-fraud program.
We guide you through each step of creating a fraud-free environment that doesn’t create pointless red tape, but rather it considers efficiency in even the most complex business operations. The goal isn’t to slow your business down. The goal is to make sure your business realizes its full potential, and you can’t do that with missing cash or misused assets.
We work with enterprises in a variety of backgrounds and we have a solid knowledge-base from which we can pull to understand the fraud factors that your specific industry faces.
We start with an initial fraud assessment that serves as a diagnostic of your company’s exposure to the risk of fraud across all areas of your business. Based on those results we identify deficiencies, outline a roadmap to mitigate them, and implement a fraud solution that is unique to your organization. This can be as broad as creating a general company policy on fraud, or as tailored as implementing enterprise-specific controls.
Depending on the nature of the fraud risks in your business we set up periodic check-ups to make sure the integrity of your fraud-framework continues. For instance, for those businesses that are particularly vulnerable to cash skimming schemes we evaluate on a more frequent basis and in less predictable form so as to pinpoint fraud in the act.
We also have an experienced tax and audit team with deep industry knowledge that we can bring in should you need more resources on more technical or regulatory matters. At Frost, we have the experts you need to rid your organization of fraud today and the increasingly complex fraud schemes that you’ll face in the future.

Some of the Fraud related services we offer are:

  • Fraud Investigations
  • Fraud Risk Assessment
  • Fraud Risk Governance
  • Reporting
  • Remediation
  • Whistleblower program/services