Statistics show that a typical organization loses five percent of its revenues to fraud each year. One major factor that contributes to this number for small business is lack of effective internal controls. Veriti Consulting’s Las Vegas, Nevada team of CPAs, fraud examiners and forensic accountants have extensive experience investigating and analyzing suspicious financial activities. Using their technical skills and professional judgment, Veriti’s professionals analyze financial transactions, trace assets and interview possible perpetrators.
Veriti’s forensic accounting services provide clients with assessments of areas of operational weakness, internal control deficiencies, and methods to prevent fraud or malfeasance. When necessary, our reports and examinations are used in civil and criminal proceedings by law enforcement and government agencies and in confidential investigations. The forensic accounting professionals at Veriti are uniquely qualified to handle forensic investigations in matters such as:
- Business fraud
- Falsified documents
- Asset misappropriation
- Internal control review and recommendations
- Accounting reconstruction
- Compliance violations and accounting irregularities
- Property infringement
- Hidden assets
- Business failure analysis
- Vendor fraud
- Ponzi schemes
- Occupational fraud
- Economic extortion and bribery
Veriti uses various resources to perform statistical analysis, complete asset tracing, conduct witness interviews, and deploy other specialized techniques critical to unraveling simple and complex fraud. Veriti is also an Arizona licensed private investigation firm that provides expert witness and consulting services for matters in litigation. If your business may benefit from certified forensic accounting professional services, contact Veriti’s Las Vegas, Nevada office at (877) 520-1280 or by email to learn more.
Forensic Accounting FAQs
1) What is the average loss suffered by occupational fraud?
According to the most recent Report to the Nations, the median loss caused by occupational fraud is $140,000; however, more than one-fifth of these cases resulted in losses of at least $1 million.
2) How is occupational fraud detected?
More than likely, it is detected by a tip from an employee of the victim organization.
3) Who commits fraud?
According to the Association of Certified Fraud Examiners, fraud is committed by individuals who have a higher level of authority. The majority of fraud was committed by those working in the accounting, purchasing or customer service departments, as well as those in sales and/or executive or upper management.
4) My company gets an outside audit every year. Won’t this detect or help prevent fraud?
External audits should not be relied upon as a primary fraud detection method. Per the Association of Certified Fraud Examiners, external audits only detected three percent of reported frauds. Effective internal controls, anti-fraud training, and good ethical tones from management should be implemented to help prevent fraud from occurring.
5) What are typical traits for someone committing fraud?
While not true in every instance, our experience indicates various red flags are employees who are living beyond their means, employees refusing to take vacation, and those who exhibit excessive control issues in the workplace.
Contact Veriti Consulting at (877) 520-1280 or email us to learn more about working with a certified forensic accountant in Las Vegas Nevada.
Other Veriti Consulting Office Locations
Phoenix Forensic Accountants
Charlotte Forensic Accountants
