Preventive datamining

Description

According to available statistical data, frauds tend to go undetected for an average of two to three years. Although fraudulent or irregular practices are not recognizable at first sight, evidence thereof already exists in accounting or in electronic and paper documentation. One of the most efficient ways to check for fraud is preventative data-mining, and regular data reviews are an important tool used by organizations to prevent fraud.

Our procedures

Using sophisticated technologies, our experienced specialists are able to search for, review and detect irregular business transactions in companies. Identification of irregular transactions includes an independent and objective review of a sample of business transactions, payments and accounting records. The objective of this examination is to identify indications of weaknesses within a company’s control system and in the way its internal controls are executed. We highlight red flags of irregular transactions using special forensic tests.

We have reviewed transactions for our clients in areas such as:

• Sales and purchasing
• Employee expenses
• Payroll and bonuses
• Project, advertising, marketing and consulting expenditures