Fraud Investigation & Prevention

Although it is generally acknowledged that fraud is a serious and costly problem for its victims, the full extent of the problem is unknown. A routine audit seldom uncovers fraud and the majority of fraud goes undetected. Much of the fraud that is detected is not reported or prosecuted. Fraud, by its very nature, involves deception, trickery, concealment and falsehood and is limited only by the opportunities and imagination of the fraudster. Reports issued by the Association of Certified Fraud Examiners have indicated that approximately 6% of an organization’s revenue is lost as a result of fraud. Since most fraud investigations are based upon suspicions about a certain type of fraud or a certain individual, it may be necessary to engage the expertise of a trained fraud examination specialist.

Fraud Investigations

Piccerelli, Gilstein & Company, LLP has trained professionals who specialize in the detection and prevention of fraud. Through various investigative and analytical procedures used to gather evidence, our fraud examiners can help to determine if fraud did occur, estimate the extent of monetary loss or damages, and determine who committed the fraud. A fraud investigation can be used to

  • support a criminal or civil action against an individual
  • form a basis for terminating a dishonest employee
  • support a claim for insurance recovery
  • support a defense of an accused employee
  • locate hidden assets in divorce engagements or bankruptcy

Fraud Prevention

Since it is well known that fraud prevention is more cost effective than fraud detection, our team of professionals are trained in identifying those areas within an organization that are vulnerable to fraud and designing internal controls aimed at deterring fraud. We will work with your organization to

  • evaluate existing internal controls
  • assess areas of fraud risk
  • design or enhance cost-justified internal controls to reduce the risk of fraud

Litigation Support

Our fraud investigators support the litigation process by assisting attorneys in evaluating evidence obtained in a fraud investigation and by providing expert testimony.

Obtain more information by e-mailing Irene Fasano.