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Today’s Topics

Today’s Topics. Methods for Investigating Fraud Theft Investigation Methods. Fraud Investigation. Evidence Square Approach Testimonial evidence Documentary evidence Physical evidence Personal observation Fraud Elements Plus Inquiry Approach Theft investigation Concealment investigation

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Today’s Topics

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  1. Today’s Topics • Methods for Investigating Fraud • Theft Investigation Methods FORENSIC ACCOUNTING - BA124 - Spring 2015 Slide 11-1

  2. Fraud Investigation • Evidence Square Approach • Testimonial evidence • Documentary evidence • Physical evidence • Personal observation • Fraud Elements Plus Inquiry Approach • Theft investigation • Concealment investigation • Conversion investigation • Inquiry investigation FORENSIC ACCOUNTING - BA124 - Spring 2015 Slide 11-1

  3. Theft Investigation • Surveillance and covert operations • Invigilation • Physical evidence • Generally costly and time-consuming FORENSIC ACCOUNTING - BA124 - Spring 2015 Slide 11-1

  4. Theft Investigation Bull’s-Eye • Check records • Interview former employees, vendors • Search public records • Interview employees, buyers etc. • Interview suspect FORENSIC ACCOUNTING - BA124 - Spring 2015 Slide 11-1

  5. Coordinating the Investigation • Vulnerability Chart (spread sheet) • What was taken? • Who had the opportunity? • How were assets moved? • How was it concealed? • How were the assets converted? • What were the red-flags? • What were the possible motives? • What were the sources of rationalization? • What internal controls were lacking? FORENSIC ACCOUNTING - BA124 - Spring 2015 Slide 11-1

  6. Surveillance and Covert Operations • Fixed, tailing or electronic • Legal, but subject to the 4th Amendment protection against unreasonable searches • Avoid fishing expeditions FORENSIC ACCOUNTING - BA124 - Spring 2015 Slide 11-1

  7. Invigilation • Observation that takes away virtually all opportunities for fraud • Before and after comparisons • Use only with management approval • Costly FORENSIC ACCOUNTING - BA124 - Spring 2015 Slide 11-1

  8. Physical Evidence • WTC example • Northern Exposure example FORENSIC ACCOUNTING - BA124 - Spring 2015 Slide 11-1

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