Forensic Accounting

Businesses lose substantial sums of money to fraud. In fact, some businesses have been known to fail simply on account of fraud. So you find a business with a great product, a great customer base, good revenues, good profits… but it ends up failing because of fraud. It is this state of affairs that creates the need for forensic accounting services.

Businesses lose substantial sums of money to fraud. In fact, some businesses have been known to fail simply on account of fraud. So you find a business with a great product, a great customer base, good revenues, good profits… but it ends up failing because of fraud. It is this state of affairs that creates the need for forensic accounting services.

Forensic accounting situations

There are several situations where you may find yourself wanting to hire a firm like VEE AAR Professionals Services to help you with forensic accounting. One such situation is where you suspect that your business has lost a substantial amount of money due to internal fraudulent activity. Another situation would be where you suspect that your business has been losing some of its merchandise due to internal fraudulent activities. And the third situation would be where you suspect that your business has been a victim of external fraud.

The specific forensic accounting help we can offer to your business

Firstly, we can help you to ascertain whether, indeed, your business has lost money through fraudulent activity. In most cases, the analysis will reveal that indeed some money has been lost through fraudulent activity. But there are also cases where the analysis reveals that no actual loss occurred (or if an actual loss occurred, it was not due to fraud). Either way, it is important to have proper insight into the matter under investigation.

Secondly, we can help you in figuring out exactly how much money your business has lost to fraudulent activity. This can be a challenging aspect, as it usually involves painstaking reconciliations of various accounts. But it is a task we are experienced in, and one that we are able to perform in a fast and effective manner.

Thirdly, we can help you in figuring out exactly how the loss of money occurred, and who the responsible parties were. These again, are usually complex tasks, as they typically have investigative components. But we are able to perform them fast and effectively: to unearth the culprits behind the fraudulent activity.

Fourthly, we can help you in tracing and recovering the lost money. This is usually the main objective for which businesses engage forensic accounting services providers. So it is a task we always endeavor to perform in the most effective manner possible. Once we are able to figure out how the loss of money occurred (and who the responsible parties were), tracing and recovering the money tends to be much easier. It may entail partnering with law enforcement agencies. Or it may entail simply getting the parties that were responsible for the fraudulent activity to voluntarily offer to pay back what they took. But in the end, we are able to deliver results – in at least tracing the lost money but also (to the greatest extent possible), recovering it.

Fifthly, we can help you in developing proper internal controls to prevent fraudulent activity in the future. The moment we figure out how the fraudulent activity took place, it becomes easier to come up with strategies for preventing its recurrence. Often, the help we give to you in terms of developing proper internal controls turns out to be more valuable (in terms of the future losses it prevents) than anything you could get in terms of monetary recoveries.

Benefits of outsourcing forensic accounting to VEE AAR Professionals Services

Firstly, we –at VEE AAR Professionals Services – offer the forensic accounting services at the most reasonable rates. You therefore end up saving money in several ways. You save money that you would have otherwise spent on the fees of other forensic accounting services providers who charge higher rates. You of course also save the money that we manage to trace and recover through our forensic accounting services. And through the proper internal controls that we design for you, you are able to save money that you would otherwise have lost to future fraudulent activity.

Secondly, we offer comprehensive forensic accounting solutions. Therefore we go the whole hog with you, and don’t shy from the more challenging tasks (like those of actually trying to trace and recover the lost money) as some forensic accounting firms do. Many accounting firms will only go to the extent of telling you how much money you lost and how you lost it. But they won’t help with the actual tracing and recovery of the funds. We, at VEE AAR Professionals Services are different: as we walk the whole journey with you: right up to the point of designing and implementing proper internal controls to prevent future fraud.

Thirdly, leveraging on our considerable experience in this area, we are able to move fast in tracing and recovering what was lost. Because we have been on the tracing and recovery journey numerous times before, we know our way around it. We are therefore able to make prompt moves and often recover the funds before they disappear entirely. In this regard, we are unlike less-experienced firms that typically adopt trial-and-error approaches, then end up losing time during which the money trail gets lost. With us, you are assured of a prompt solution that traces everything that is traceable and recovers everything that is recoverable.