Forensic Accounting & Fraud Investigation

Forensic Accounting & Fraud Investigation

Forensic Accounting Services in Dubai, UAE

Fraud is prevalent in almost all organizations. It depends on how an organization counters new threats by adopting risk control measures policies. Organizations need to assess different fraudulence carried out by internal and external actors. 

Due to increased competition and volatility, some businesses carry out unethical practices and prop up their financial health to present a rosy picture to the shareholders, Board of Directors, bankers, and regulatory authority. 

Certain employees commit other fraud financial transactions by misconducts such as thefts and bribery.

Forensic / Fraud Investigation Services In UAE

Fraud Risk Management integrated into an organization's process through written policies, protocols, and clearly defined roles play an indispensable part. The top-down approach from the senior management or Board ensures the program implementation. Certain procedures can be laid that are organization-specific. Forensic and Fraud Investigation services in UAE like Absher Business Consultancy offer services like 

  • Risk evaluation of frauds
  • Type of frauds
  • Disclosures of disputes
  • Monitoring procedure
  • Obligations and functions
  • Security for whistle-blowers
  • Identification of the fraudulent activities and corrective actions
  • Ongoing surveillance

Fraud Audit and investigation 

Organizations are susceptible to different kinds of fraud. 

Some common frauds are  

  • Financial statement frauds - overstating revenues, profits, and understating liabilities
  • Corruption - employees indulging in thefts, bribery, kickbacks, extortions, etc.
  • Banking and insurance fraud – False insurance claims, fraudulent bankruptcy, etc.
  • Asset misuse and Money laundering - stealing cash from the company and transferring it to group companies fraudulently.

Fraud accounting audit services from investigation services help plug the gaps in the system and process, identify the frauds committed and take corrective actions, improve the organization's internal audit process, and strengthen the reporting and approval system. 

Forensic accounting Investigation

This service is more sophisticated as they deal with more complex cases of fraud committed. The audit is in-depth, where every transaction is scrutinized, and the money trail gets audited. The whole process is more investigative with evidence collection a strong KRA. 

Forensic auditor expertise is to oversee the transactions that help identify any misappropriation of funds, money laundering, theft, kickbacks, and under and over-invoicing. 

Advantages of Fraud and Forensic Investigation services 

Business Setup Consultancy like Absher plays a significant role in detecting frauds and helping organizations to prevent monetary losses and loss of brand image. 

They have a team of highly qualified finance and legal professionals that can help their clients to overcome such problems. 

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