Fraud Mitigation Services
Contact: Joel Rosenthal
Schneider Downs Business Advisors can provide you with the necessary expertise to evaluate your company’s current fraud mitigation plan and infrastructure, support your efforts to perform a fraud risk assessment or assist with the development of a robust fraud mitigation plan.
Our typical approach includes a diagnostic evaluation of your current fraud mitigation efforts and includes the following steps:
- Review recent financial statements
- Obtain an overview of the organizational structure
- Interview key members of middle-to-senior level management (both financial and operating) to understand key fraud risks
- Perform research related to industry-specific fraud risks
- Obtain a high-level understanding of key financial and other operating software packages and automated controls
- Understand key controls (i.e. management review and approval of financial statements and related variance analysis, preparation and review of account reconciliations, segregation of duties, etc.)
Once the diagnostic phase is completed, we share our thoughts pertaining to the design of your current fraud mitigation plan and provide recommendations where appropriate.
The results of our diagnostic evaluation can be incorporated into an extensive organizational fraud risk assessment, which is a deeper and more thorough analysis of the fraud risks and controls in place at the transactional level of an organization and entails input from staff on “the front lines.”
The results of a fraud risk assessment include the identification of known fraud risks and related controls in place, as well as additional recommendations for consideration.
In the event that your organization does not have a fraud mitigation program in place, we can assist you in designing such a program that fits your needs and helps to alleviate your concerns.
Contact Joel Rosenthal, Shareholder or Marc Brdar, Senior Manager, if you would like to discuss how we might be able to assist you with assessing, improving or designing your fraud mitigation program.