Investigation Of Fraud Detection And Investigation Essay

Investigation Of Fraud Detection And Investigation Essay

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If you suspect that your company has been defrauded, then there are a number of steps and options that you can take:

1. Fraud detection and investigation
The first important step is to determine if a fraud or any other criminal activity, has taken place. At this moment, you may know for certain or you may have suspicions that fraud has occurred. Sometimes the way people behave, can suggest that they are committing a fraud. These signs are called 'red flags '.
• You 've noticed significant changes in somebody’s behavior;
• They have financial losses or large personal debts, having the desire to gain;
• Audit control find errors or irregularities;
• Sometimes, the transactions take place at an odd time with an odd frequency, the amount is unusual or the recipients are odd;
• It happen that internal controls to not be enforced or to be often compromised by higher authorities;
• On reconciliations may be find discrepancies between accounting records and unexplained items;
• Only photocopied documents available or documents are missing;
• Inconsistent, vague or implausible responses ari...

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