Studler Doyle on Fraud Detection and Prevention

Fraud can occur in any company, causing significant financial impact even in firmly established businesses. Ignoring or tolerating fraudulent behaviour increases the risk of spreading unethical behaviour among employees and increasing the damage. According to the Association of Certified Fraud Examiners, "The typical organization loses, on average, five percent of its annual income to expenses that result from fraud and abuse." The inability to detect and adequately respond to these threats can cause significant financial and reputational damage to any organization.

An early response to reported fraudulent behaviour can reduce financial and reputational damage. As a leader in forensics, Studler Doyle can help you manage the risk and vulnerabilities that come from corruption, fraud, and other threats. The Aurora-based global investigation and forensic accounting company reviews and investigate suspicions of fraud, and unethical behaviour by employees or third parties. Find out how to deal with such situations.

As one of the country’s leading forensic accounting company, Studler Doyle have investigated numerous allegations of fraud in a variety of industries including retail, manufacturing, insurance, and financial services.

The steps to identifying the potential for fraudulent activity begin with a candid, clear-eyed view of the business and its operating landscape. When assessing fraud risk at the employee or department level, it is helpful to identify the areas of greatest opportunity.

To achieve this, Studler Doyle’s highly trained professionals will obtain the necessary documentation to help determine if fraud has occurred. If so, our professionals will assess the damages associated with any improprieties, monitor non-routine trends, review all relevant information available, interview the parties involved, and prepare the necessary analyzes.

Studler Doyle experts will assist company management in understanding the nature of the system, analyze internal controls and accounting processes, quantify losses incurred, recommend changes to controls and policies that help mitigate the risk of fraud in the future, and they will help with strategies to recover what was lost. If necessary, our professionals can also act as consulting experts, or provide expert testimony.

Given the enormous impact of fraudulent activities on business, more than ever before it is vital to respond to suspected fraudulent behaviour in a timely manner and to have access to experienced fraud investigators.