Fraud
is a big problem around the world and seems to be getting worse. It has a
global impact on society and the economic loss can be measured in hundreds of
billions. As the global economy continues to grow, and more and more companies
become involved in international business the role of the fraud examiner
becomes all the more important. Small businesses are especially vulnerable to
occupational fraud. These organizations are less likely to have controls in
place to decrease the opportunity for fraud. Fraud examination, as an industry,
continues to grow more and more important both at home and abroad in the
business environment.
EFFECTS OF FRAUD
Fraud
has a far-reaching effect on the organization and society at large. Fraud can
cause loss of confidence level among customers, suppliers, and shareholders.
Working capital of any organization or business may deplete due to fraud.
Who is a certified fraud Examiner?
The biggest criticism is that the scale of fraud is so much larger than the
prevention and prosecution framework that the latter is often thought to be
ineffective. Yet with a relatively small increase, the prevention of fraud
would have a massive effect in reducing the level of the white collar crime
problem. So an icfeci certified fraud
examiner is someone who focuses on preventing fraud in an
organization. They are highly trained in
detecting, investigating and resolving fraud cases. They have the essential skills and knowledge
in forensic accounting and investigation techniques. They can use their
accounting and auditing expertise to provide you with an analysis of financial
records in association with detecting fraud and investigating possible cases of
bank fraud. They are much more than experts in accounting methods and practices
- they are also expert in presenting the information. This can be in the form
of a report but they are also able to answer cross-examination during the
process.
For
healthcare fraud, many certified fraud investigators are actively involved in
the identification and investigation of fraud and abuse, which, for the most
part, are initiated by complaints received from patients, insurers, and others
related entities. They have the ability to provide these auditing services,
depending on the extension of cases:
• Investigate the fraud.
• Provide a written report of their
investigative findings.
• Work to prevent the loss of fraud.
They
may interview the people involved, look into records, and take a look at the
documentation that has been produced by the case. They are aware of the legal
regulations that govern the field. They have special skills that include such
things as good interview technique, report writing, collection of data and
record keeping as well as advanced investigative techniques and the
preservation of data.
ICFECI will be your best
Partner in the Fraud Investigation.
At
this, our certified fraud investigator can handle the cases in fraud and white
collar crime pertaining to healthcare, insurance fraud, bank fraud, tax frauds,
Ponzi schemes, securities fraud, mortgage fraud, and etc. We’re always with you
when it comes to fraud management. Call us at 214-384-3246 and get started with
us today.
