San Diego Business

Accounting Solutions a "Non" CPA Firm

Fraud Investigation

Fraud Investigation: If you have reason to believe that Fraud has occurred within your business whether it is due to Employee Embezzlement, Asset Misappropriation, Bribery or Conspiracy and need an investigation please feel to contact us to review your concerns and options.

Did you know?

• The average business loses 5% of their annual revenues due to fraud
• The most common fraud disbursement scheme is a billing scheme
• The most common anti-fraud measure among victim organizations was the use of external audits

Methods of Fraud in Small Business

• Billing schemes
• Expense reimbursement schemes
• Check tampering
• Cash larceny
• Payroll schemes
• Wire transfers
• Register disbursement
• Inventory theft
• Financial statement fraud
• Corruption schemes

Median Loss of Revenues

Based upon actual fraud case studies reported, 23% of small businesses with revenues from $1 million to $10 million per year have a median fraud loss of $200,000 per year.  The initial detection of occupational fraud in a small business is by a tip.  The second detection of fraud is by accident.  Fraud is much easier to prevent than to detect.

Workers Compensation Red Flags

• Disgruntled employees
• Employees who are difficult to contact
• Claims filed by new employees
• Injuries that occur without witnesses
• Different accounts of the actual accident
• Accidents that occur on Fridays or Mondays

Trust /Estate Fraud: If you are concerned that your Trustee, whether it is your Accountant or an Appointed Bank or Third party  has not properly handled your trust fund account and need an investigation on the distribution of money, please contact us for a consultation.

What To Do If Your Identity Is Stolen

Start keeping detailed records

Close all accounts that are affected by the fraudulent activity

Notify all creditors on your credit report

Check for and repair further breaches of your identity

Notify law enforcement agencies - Federal Trade Commission - Federal Bureau of Investigation - United States Secret Service - Local and State Agencies

Notify the fraud units of the following principal reporting companies - Equifax 800-525-6285 or 888-766-0008 - Trans Union 800-680-7289 - Experian 888-397-3742

www.consumer.gov/idtheft/

Fraud Investigations
Fraud Prevention
Internal Control Review
Tax Preparation
Monthly Financials
Financial Plans
Incorporating