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What Entities Are Likely To Experience Fraud?
White collar fraud hits entities of all sizes and types, regardless of nature and regardless of size. We frequently see fraud, especially embezzlement, in small business and professional offices with a limited office staff and in non-profit entities such as charitable organizations, but these organizations are by no means the limit.
In the majority of organizations, fraud cannot be prevented. The best that management can hope to do is to create a system of internal controls that aids in the early detection and minimization of fraud. The object is to stop fraud before its magnitude becomes so large that it effects the financial health of the business.
Why Have A White Collar Fraud Investigation?
If the management of an entity suspects fraud, it needs to investigate the situation to determine what has been done, who did it, and what is the extent of the damage. A Certified Fraud Examiner is uniquely qualified to conduct a fraud investigation because the CFE has been specially trained (and is continually trained) to answer the questions of what, who, how, and how much.
How Much Time Does A Fraud Examination Require?
Time requirements for a fraud investigation depend on the type of fraud and on the number of records that need to be studied. There is no way to accurately estimate how long an investigation will take without talking with you, because each investigation must be tailored to the specific engagement and its circumstances. At Mensel, PC we have conducted successful fraud investigations in as little as two days. In other cases, we have been involved for months, first conducting the examination and then working with the client and the client's attorneys to prosecute the fraudster.
We will be happy to discuss your situation with you, without cost or obligation. All discussions are, of course, confidential.
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