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Preventing and eliminating fraud
As a complement to our litigation support, Decosimo provides forensic accounting services to assist clients in the detection and prevention of financial reporting fraud and misappropriation of assets.
Financial reporting fraud and its impact on former employees, shareholders and auditors has been the top story in national and local newspapers for several years. The spectacular breaches of trust at large public ally traded companies have fueled a perception that fraud is pervasive and devastating. News of corruption and large misappropriations of assets by employees, credit card fraud perpetrated on the Internet and identity theft frequent local newspapers and increase this perception.
Decosimo has six accountants that have earned the Certified Fraud Examiner (CFE) credential awarded by the Association of Certified Fraud Examiners. Several of our other accountants are in the process of obtaining this certification that includes the successful completion of a four part examination covering the areas of criminology, financial transactions, investigation and law. The functions of CFEs include assisting in the prevention, detection and deterrence of fraud; resolving allegations of fraud from inception to disposition, gathering evidence, taking statements, writing reports and testifying to findings. CFEs adhere to a code of professional ethics and are required to have 20 hours of continuing professional education per year. The ACFE is the premier provider of anti-fraud training worldwide with 28,000 members in over 100 countries.
Decosimo's forensic accounting services are tailored towards the experience and expertise of our CFEs and include formal fraud investigations at the request of companies, attorneys and law enforcement officials. In these investigations, we use a variety of strong analytical skills, including analyzing financial statements and other financial information for trends and anomalies. We also use sophisticated data extraction software to identify unusual transactions, trends or relationships and to gather evidence of financial reporting fraud and misappropriation of assets. We also assist our clients with developing fraud prevention controls and procedures as part of strengthening their anti fraud and corporate ethics policies.
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