Fraud Examination: A Comprehensive Guide by Studler Doyle

Fraud is a serious crime that can have severe consequences for individuals and organizations. It is the intentional deception or misrepresentation that an individual or an organization makes, with the aim of obtaining something of value or causing damage to another individual or organization. Fraud can be committed in various forms, such as financial fraud, insurance fraud, healthcare fraud, identity theft, and more.

Fraud examination is a critical process that helps detect, prevent, and deter fraud. It is an investigation into fraudulent activities, with the aim of gathering evidence that can be used to prove or disprove the allegations of fraud. 

In this article, we will delve deeper into fraud examination, as explained by the experts at Studler Doyle.

 

How to Manage the Risk of Corporate Fraud during a Pandemic

 

The risk of fraud is present in all organizations, to a greater or lesser degree, depending on various internal factors such as organizational culture, level of maturity in corporate governance, management of risks, internal control, type and size of business and others, and external factors including industry: national / regional context, market in which it operates and others.

Fraud, unfortunately, is a risk that can affect any organization at any time, in normal times or even in times of crisis. Furthermore, in times of crisis, the risk of fraud may increase, as some people may find in the crisis a motive (pressure / incentive), an opportunity, or a justification (rationalization) to commit irregularities.

Background of Forensic Accounting

The term forensic is initially associated with legal medicine and with those who practice it, as most people identify this word with autopsy and pathology. Forensic Accounting has existed for a long time, and today its protagonism is undoubted as the entire community recognizes the importance of the role it plays in society and the long road that still has to go.

Ever since its founding in 2001, by Dee Studler and Krista Doyle, Studler Doyle has been regarded as a one of the top forensic accounting companies that provides a complete range of forensic accounting solutions. Studler Doyle offers the services of highly-experienced investigating and forensic accounting experts who have a sharp eye for detail when it comes to investigating and analyzing specific accounting situations.

Fraud Examination

Fraud

Fraud is an intentional act that causes the victim to suffer an economic loss and/or the perpetrator to realize a gain. From the global investigation and forensic accounting firm, Studler Doyle, we learned that the simple working definition of the term ‘fraud’ is “theft by deception”.

The legal definition is the same in both, criminal or civil offense. The difference however is that criminal cases must meet a higher burden of proof.