Importance of a Certified Fraud Examiner

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.