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Fraud Investigation

Reviewing files for financial fraud protectionThe three major categories of fraud are Corruption, Asset Misappropriation and Financial Statement Fraud. Straub Accounting LLC specializes in Asset Misappropriation investigation and deterrence.

According to the Association of Fraud Examiners, there are approximately 40 misappropriation and abuse schemes. How is it possible that fraudsters manage to steal from their employers and go undetected? The answer is that internal controls were not implemented, or controls were not monitored. Often employers rely too much on trust without verification.

I have investigated a variety of fraud cases for plaintiffs and defendants that have either gone to civil and criminal courts or have been settled outside the judicial system. One highly visible case making national news involved a murder where a husband was accused of murdering his wife for insurance proceeds.

Routinely I perform investigations in which employees used skimming schemes, such as lapping accounts receivable or writing off accounts receivable and pocketing cash receipts. In those cases, business owners had entrusted too much control to employees.

I have also conducted fraud investigations or dispute resolutions for business partners who were suspicious of partner business activities. One such case turned into a criminal investigation for the defense and found its way to criminal court.

Risk assessments are a valuable service to determine if there are weaknesses in internal controls that offer opportunities for miscreants to gain access to assets. I report any weaknesses discovered with recommendations on how to strengthen controls in a reasonable manner.

The best way to avoid fraud investigations is to implement good internal controls and watch for signs of potential fraud. Over the years I have presented many fraud related seminars to CPAs, internal auditors, businesses and organizations across the country.  I continue to offer fraud detection training to avoid the cost of conducting fraud investigations in the future.

My reports on fraud investigations are well-supported and stand on their own. However, if your case goes to court, I will provide expert testimony for the Triers of Fact.

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