Our Services

Fraud Examination and Fraud Prevention / Deterrence

Services involving fraud can either involve the investigation of fraud if fraud is either suspected or is known to have occurred, or, the deterrence of fraud before it has a chance to happen.

Fraud Examination:

What is Fraud?
Fraud can take on many forms, such as:

• Stealing money or merchandise
• Taking kickbacks or bribes from suppliers or customers
• Providing false financial information on the company to government, creditors, or investors
• Cheating on expense accounts
• Claiming overtime when it is not due
• Payroll Schemes
• Billing Schemes
• Check Tampering

According to the “Association of Certified Fraud Examiners’ 2010 Report to the Nation on Occupational Fraud and Abuse”, it is estimated that the typical organization loses 5% of its annual revenues to fraud. Applied to the estimated 2009 Gross World Product, this figure translates to a potential total fraud loss of more than $2.9 trillion. Small organizations are disproportionately victimized by occupational fraud. These organizations are typically lacking in anti-fraud controls compared to their larger counterparts, which makes them particularly vulnerable to fraud.

Ms. Kasmir has in excess of sixteen years of direct experience in investigating fraud schemes, and in excess of thirty years as a Certified Public Accountant. As a Certified Fraud Examiner (CFE), she is viewed as an expert in preventing, detecting, and deterring fraud. CFEs represent the highest standards held by the Association of Certified Fraud Examiners and possess expertise in all aspects of the anti-fraud profession.

If it is known, or it is suspected that a fraud has occurred, FLA Consultants can provide the following services:

• Evaluation of internal control systems for fraud detection
• Analyzing complex financial transactions
• Interviewing Personnel and Witnesses
• Asset Searches
• Determination of Economic Damage Calculation
• Provide expert testimony to recover assets and prosecute wrongdoers

Fraud Deterrence:

It is preferable to establish a fraud deterrence plan within the organization to deter fraud before it occurs. By doing so, the economic loss of the potential fraud can be either eliminated or mitigated. FLA Consultants is specifically trained to understand the Fraud Triangle, that is, the relationship between the motivation to commit the fraud, the opportunity to commit the fraud, and the rationale of justifying the fraud. Fraud deterrence specifically targets the opportunity to commit the fraud, and closes the gap between internal control “best practice” and actual practice of the organization.

Ms. Kasmir also holds the highly coveted designation of Certified Forensic Financial Analyst with a specialization in Fraud Deterrence, as awarded by the National Association of Certified Valuation Analysts. This makes Ms. Kasmir one of the most qualified expert witnesses in the area of fraud. In fact, Ms. Kasmir was one of the first individuals nationally to gain this designation. A CFFA is specifically trained in the technique of fraud detection and prevention. These professionals help business stem the tide of employee fraud and reduce the organization’s overall susceptibility to various other forms of fraud and criminal theft. Pro-active techniques are employed which include:

• Strengthening internal controls to reduce the risk of fraud
• Assist in hiring of key personnel, including performing background checks
• Periodic monitoring of financial information
• Developing corporate compliance and fraud prevention programs
• Installation of fraud “hotlines” to report fraud by anonymous tip

Additional information on these techniques and the benefits of consulting with FLA Consultants can be found in the brochure “Qualified Fraud Deterrence Services”.

To discuss fraud examination or fraud deterrence services, please call Ms. Kasmir, President, at 407-767-7223 EXT 300, or email at Gail@FLAConsultants.com

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