FRAUD AWARENESS WORKSHOPS
In the wake of high profile corporate scandals as well as new regulations, it is becoming imperative to create company specific antifraud measures to address internal corporate fraud and misconduct. We conduct workshops focusing on fraud related regulatory requirements, industry specific fraud risks, investigation methodologies and the best practices. In addition to conducting workshops under the aegis of various forums, client specific workshops are also conducted.
Strategic Audit Techniques Incorporated’s Forensic practice can assist in detecting fraud by combining the forensic and investigative experience of forensic professionals with the use of technology. Using our forensic experience and knowledge of your organization’s particular circumstances, we can help you interpret the results and discern whether the findings represent indicators of fraudulent or unauthorized activity.
Our fraud investigation services include:
- Advice on initial responses to fraud and control of difficult and sensitive issues;
- A tailored action plan to assess your suspicions, limit financial loss and preserve key evidence;
- Quick access to publicly held information about companies, directors and individuals that enables us to test suspicions;
- Advice on how to conduct the investigation, reduce the risks and enhance recoveries;
- Analytical data mining and analysis tools to identify potential red flags that could be indicative of fraud schemes such as fictitious/ inflated/ duplicate documents, improper or illegal payments, fictitious vendors, inflated sales or ghost employees;
- Objective reporting, fully documented and supported by evidence, by presenting facts and explaining transactions;
- Assistance in liaison with law enforcement agencies.
FRAUD RISK MANAGEMENT
Strategic Audit Techniques Incorporated’s comprehensive approach to fraud risk management tells directors, managers, internal auditors and risk managers where their organization is vulnerable to fraud and how to plug the gaps. Whether you prefer a broad overview of the potential for fraud across your entire organization or an in-depth, detailed risk profile of a single department or process, Strategic Audit Techniques Incorporated can provide:
- An objective analysis of your current anti-fraud programs and controls, fraud risk management processes, and investigative procedures;
- A comprehensive fraud risk assessment of specific issues within your organization
- Identification of organizational features that may contribute to fraud and misconduct, including culture, hiring practices, reward structures, and corporate integrity benchmarks within your industry;
- Innovative forensic technologies to combat these risks;
- Practical and cost-effective implementation plans to address identified issues and help deliver added business value;
- Training programs and workshops to help enable your front-line people to identify the early warning signs of fraud and manage those risks effectively in the future.
FRAUD TECHNOLOGY SERVICES
Modern organizations rely on an increasingly complex information technology infrastructure. However the complexity of modern IT systems can complicate the process of discovering or proving electronic facts when companies are in the midst of putting fraud management procedures in place.
Technology has created new ways for organizations to respond to the challenge of preventing and detecting fraud and misconduct. Companies are employing analytic techniques in their efforts which include:
- Proactive forensic data analysis which involves accessing company data and comparing it against other information from within and outside the company, to highlight fraud ‘red flags’ and control weaknesses.
- Forensic Technology Services which help to recover digital evidence to support a variety of civil, administrative or criminal actions.
Strategic Audit Techniques Incorporated will help clients take control of digital evidence, enabling them to substantiate evidence to defend or prove an action, investigate online misconduct and fraud and protect digital assets. It helps organisations and lawyers discover what has happened, why it happened, and who or what was responsible. We can also make available customised reports based on specified data, relationships, transactions or fraud indicators.
Organizations often operate in unfamiliar territories or with little knowledge of the background, reputation or ability to conduct business with their potential business partners. Many times a track record and reputation can be overlooked while focusing only on the potential financial gains.
Strategic Audit Techniques Incorporated has access to a wide range of information sources in South Africa and abroad which allows us to obtain records and information on companies and individuals. Strategic Audit Techniques Incorporated’s helps highlight issues of concern that may cause potential reputation or financial damage to a company, its directors and its shareholders. Our focus is to help you understand who you are dealing with by gathering the background information required to achieve this. We dig deeper to uncover potential business problems and collect vital information which puts you in a better position to make enlightened decisions on:
- Investing in a business
- Recruiting new dealers, suppliers, franchisees or distributors
- Licensing your product or services to another company
- Establishing a strategic alliance or joint venture partnership
- Acquiring or merging with another business
- Appointing senior management
- Entering a foreign market or open a foreign operation
Pre-employment screening is a way to discover important information that can influence the hiring decisions you make. Many employers discover rather late that they have hired violent offenders and persons with a history of crime involving theft, embezzlement or fraud in various forms.
Strategic Audit Techniques Incorporated helps organizations in conducting background checks of prospective employees. We provide a complete range of pre-employment screening services in a flexible, timely and cost effective manner. Our key services include:
- Database Verification: This helps clients ascertain if the candidate has been reported for any misconduct.
- Education Verification: This helps to confirm the educational details of the candidate, authenticity of the candidate’s degree, year of completion and the course pursued.
- Employment Verification: This check helps to get information on the candidate’s previous employment, dates of employment, last position held and reason for leaving.
- Reference Verification: It helps clients gain maximum information from the references provided by the candidate.
- Criminal Verification: This helps clients identify whether the candidate was involved in any criminal activity.
- Address Verification: This helps clients judge the authenticity of the current and the permanent address of the candidate.
ANTI-MONEY LAUNDERING COMPLIANCE
Money laundering seeks to disguise the origins and true ownership of funds. It is used to legitimise the proceeds of criminal activity and to obscure the funding of clandestine activities such as terrorism. The continuing evolution and rapid development of anti money laundering (AML) laws and regulations around the world has given organisations a greater responsibility to prevent, detect and report money laundering.
The Prevention of Money Laundering Act requires financial service organisations to introduce robust AML programs that establish or enhance policies, procedures in order to support law enforcement in intercepting and obstructing the illegal flow of funds. Penalties and regulatory sanctions aside, any association with money laundering can expose organisations and individuals to adverse publicity and reputational damage
Strategic Audit Techniques Incorporated works with organisations to understand their risk profile and address the factors they need to consider to help prevent money laundering and comply with domestic and international requirements.
Our services include:
- Risk assessment
- Compliance reviews
- Policy and process design
- System advice
- Due diligence
- Corporate intelligence