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Fraud Prevention Services

In a recent study of fraud, small organizations (100 employees or fewer) actually suffer larger median losses from fraud than large organizations (with 10,000 plus employees). In fact, small companies are over 100 times more vulnerable to fraud than their largest counterparts. However, EHTC can help you assess your risks and create safeguards. 


How to Prevent, Deter and Detect fraud in Your Business

What is FRAUD?

Fraud can take many forms:

  • Stealing money or merchandise


  • Accepting kickbacks or bribes from suppliers or customers


  • Providing false company financial information to the government, creditors or investors


  • Cheating on expense accounts


  • Claiming overtime when not worked


The above offenses are “occupational fraud.” There are four elements to occupational fraud:

  • The activity is concealed.


  • It violates the employee’s duty of employer trust.


  • It is committed for the purpose of direct or indirect financial gain.


  • The employer loses assets, revenues, reserves, or reputation.


What are some warning signs of FRAUD?

Big Spenders:  Employees who seem to be spending beyond their means probably are. Fraud may be enabling those expenditures.

People with financial problems: Like big spenders, people with financial problems may be more motivated to commit fraud.

Rule breakers: People who ignore company rules and regulations set a bad example and can trigger fraud throughout the company.

How can you prevent FRAUD?

Create and maintain a culture of honesty and high ethics: Set achievable goals and express “zero tolerance” for unethical behavior. Regularly reinforce the company’s values and code of conduct. 

Have strong internal controls: Increase computer security, record keeping, and payment systems

Create a system of checks and balance: Be certain problems can be quickly spotted.

Report irregularities: Create a system for employees to anonymously report illegal or unethical actions they have witnessed or may suspect. 

How can EHTC help?

We have a Certified Fraud Examiner and Certified Public Accountants with many years of forensic accounting experience plus expertise in litigation support.

We can assist by:

Conducting a fraud or systems audit

Evaluating and strengthening internal controls

Assisting in the detection and deterrence of fraud

Resolving allegations of fraud from inception to disposition

Gathering evidence

Interviewing and taking statements

Preparing reports

Presenting expert testimony

Fraud directly impacts your company’s profits and threatens its reputation. We can help you prevent fraud or detect its presence. For more information on ways to safeguard your company, please contact us.

Team members available to assist you are:
  Dennis M. Echelbarger, CPA/CFF

For Additional Information...
Call us at 616.575.EHTC (3482) or 800.404.2065
or email us at ehtc@ehtc.com

  


EHTC is a member of the Association of Certified Fraud Examiners (ACFE)

The ACFE is the premier provider of anti-fraud training worldwide.

Brochures available for you to download:

Recognizing Fraud Warning Signs and Preventing Problem Situations
- pdf format
308 kb

How To Prevent, Deter and Detect Fraud In Your Business
- pdf format
120 kb

2006 Report to the Nation on Fraud
- pdf format
5.06 mb