Detecting and preventing fraud requires professional assistance with experience and relevant know-how.
During economically challenging times, as profit margins decrease and bonuses for executives decline, the motivation of key personnel in companies may suffer. This situation creates conditions for a higher risk of fraud and misuse within the company, for example, in the following ways:
• Misrepresentation and abuse in financial reporting
• Misrepresentation of asset values due to embezzlement
• Expenditures that violate regulations and unauthorized expenses, especially bribery and misappropriation of company funds
• Related-party transactions and dealings, payment of hidden commissions
• Ignoring legal regulations
Detecting and preventing fraud necessitates professional assistance with experience and the appropriate know-how.