3 Strategies for Preventing Procurement Fraud

Michael D. Rockefeller, CPA, Principal

As recently profiled on our Financial Statements blog, research by Pricewaterhouse Coopers notes that a staggering number – 30% – of US organizations report incidences of procurement fraud. The research defines procurement fraud as “illegal conduct by which the offender gains an advantage, avoids an obligation, or causes damage to his organization.” The recent trial of former New Orleans Mayor Ray Nagin is an excellent example of procurement fraud, as Nagin accepted bribes in exchange […]

Risk Management: Operational Controls for Your Business

Mark A. Buckberg, CPA, CFE, CFF, Principal

There are various definitions for what constitutes operational controls, but it really comes down to one common theme: the power of management over daily activities. In your business, operational controls regulate the day-to-day activities via the formulation of policies and execution of procedures. To put it in plain English, it is what you do and how you do it.
The Basics of Operational Controls
As management, you know best the ultimate goals for your business […]

How to Use Social Media to Support Your Fraud Case

Alex Helfand, ENCE, Computer Forensic Specialist

The invasion of social media continues to complicate litigation. Effective litigation will increasingly include sifting through large amounts of electronically stored information (ESI) and piecing together fragmented social networking activity to substantiate a case. Exactly how does social media play into support for a fraud case and what are the considerations for preserving, obtaining, and using data from social media sites?
Social Media and the Clues Left Behind
While the most common social networking sites include […]

Risk Assessment and Internal Controls: Key Elements to Prevent Fraud

John Merchant, CPA

Is your organization safe from fraud? The answer to that question will depend on your answers to a number of other important questions:Risk Assessment Internal Controls

Are the internal controls of your organization sufficient to prevent fraud? 
Did you perform a risk assessment prior to implementation of those controls? 
Do you monitor the effectiveness of the system of controls?

These are some of the questions that you and those charged with the governance of your company should constantly […]

How do you capture or recover electronic evidence on computers and cell phones?

Natalie Burchfiel, CPA

New technologies mean evidence of fraud may be electronic, hidden and difficult to detect.  How do you capture or recover electronic evidence on computers and cell phones?

Obviously, an investigator can look at the files saved on a computer’s hard drive.  Despite a fraud perpetrator deleting files and emptying the recycling bin, however, most files are still located somewhere on the hard drive.  Using specially programmed computer forensic software, a trained computer forensic investigator can uncover these deleted […]