With the growing complexity of the business environment and the growing number of business-related investigations, our firm is increasingly being asked to assist in the investigation of financial and business-related issues. According to a recent study by the Association of Certified Fraud Examiners, 45% of U.S. organizations reported that they suffered some type of fraud within the past two years and the typical company loses five percent of annual revenue to fraud.
The specialty of forensic accounting encompasses the integration of accounting, auditing and investigative skills when conducting an investigation. Equally critical is the ability to respond immediately and to communicate financial information clearly and concisely in a courtroom setting.
Fraud can be devastating for an organization. Our team of forensic accountants are trained to look beyond the numbers and deal with the business reality of the situation. If you suspect fraud or have a case involving some aspect of financial fraud, Mueller Prost’s team of certified forensic accountants can help.
Mueller Prost’s Forensic and Investigative Accounting Services:
- Analysis to Identify Misappropriations
- Asset Recovery Analysis
- Audit Committee Investigations
- Damage Assessment Analysis
- Expert Testimony
- Financial Due Diligence
- Internal Investigations
- Reconstruction of Financial Documents
- Solvency Analysis
- Transactional Tracing
- Vulnerability Studies - Information Page
- 24/7/365 Fraud and Ethics Hotline Service - Learn More
Along with our capabilities in the Missouri marketplace, we are a member of the Allinial Global network (an association of legally independent member firms). Collectively, we have a very strong emphasis on fraud and forensic matters. The ability to leverage national and international resources enhances the value we bring to our client engagements.
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For more information or to find out how you can reduce your risk, contact Adam Herman, CPA/ABV/CFF, CVA, ASA, CFE or Mike Prost, CPA/ABV/CFF, CVA, ASA.
Why People Commit Fraud
The famed criminologist, Donald R. Cressey, developed the fraud triangle model to illustrate the three factors that must be present for an ordinary person to successfully commit fraud.
Motivation: An incentive (or pressure) to carry it out. Financial problems, addictions such as gambling, shopping, or drugs, pressure to show good performance results, or even just the thrill of getting away with it are types of motivators.
Rationalization: Self-deception to believe it is okay. For example, they may tell themselves it is justified because they are underpaid, it is for their family, or perhaps they believe they will be able to pay it back before anyone notices.
Opportunity: The ability to misappropriate organizational assets due to a weakness in controls. Perpetrators think they won’t get caught because no one is performing reviews and reconciliations.