Fraud & Forensic

“Don’t find fault, find remedy.”-Henry Ford

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Fraud Prevention & Investigation

At HW&Co. our professionals hold certifications that include Certified in Financial Forensics (CFF), Certified Fraud Examiner (CFE) and Certified Public Accountant (CPA).

These experts are able to help clients in a variety of services from helping them prevent fraud from occurring to assessing and aiding in recovery from the damage a fraud created.

Fraud & Forensic Overview

Despite statements to the contrary, the truth is that all businesses are vulnerable to fraud. The most recent Association of Certified Fraud Examiners Report to the Nations, which is a global study of fraud estimates, declared that businesses lose 5% of revenues each year to fraud.

Under that same study, the highest contributing factor of fraud is a lack of internal controls. While significant frauds involving large companies and hundreds of millions or billions of dollars dominate the news, the majority of frauds and majority of the fraud damages occur at small businesses. Most of the time small businesses do not have the luxury of large businesses where they can segregate duties to properly reduce fraud risk. Therefore, small businesses must assess business risk and determine what internal controls must be implemented. Doing this has a significant effect, as the likelihood for fraud at the small business level is the highest. Furthermore, small businesses tend to have increased personal relationships between management, staff and others that may lead to misplaced trust and corruption.

At HW&Co., our professionals hold certifications including Certified in Financial Forensics (CFF), Certified Fraud Examiner (CFE) and Certified Public Accountant (CPA). Our experts are able to help clients in a variety of services from preventing fraud from occurring to assessing and aiding in recovery from the damage a fraud created.

Fraud Prevention

  • Assist and Monitor the Assessment of Business Risk
  • Fraud Prevention Best Practices
  • Anti-Fraud Policies
  • Training on Anti-Fraud Measures
  • Internal Control Review and Recommendations for Improvement
  • Internal Control Implementation and Testing
  • Financial Data Extraction and Analysis
  • Whistleblower Systems
  • Tip Hotlines and Formal Tip Policies
  • Physical Safeguarding of Assets
  • Safeguarding of Records
  • Computer System Analysis for Weakness
  • Cost/Effectiveness Analysis

Fraud Investigation

  • Incident Management Protocol
  • Preservation of Evidence
  • Determination of Extent of Fraud
  • Calculation of Damages

Recovery

  • Insurance and Surety Bond Claims
  • Assist with Claims Analysis and Review
  • Business Recovery Plan Development