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Fraud Detection

Do you suspect that your business is losing money due to fraud? Many Maryland business owners overlook basic warning signs of fraud, because they are too distracted with other responsibilities that are required to keep the business running. If you suspect that fraud might be occurring, then it is best to talk with a forensic accountant as soon as possible. These fraud detection services can help you identify potential problems before they turn into bigger issues.

At Weyrich, Cronin, & Sorra, we understand the difficulties that can arise if fraud is occurring within your company. We have the experience that you need to uncover the problems so that you can fix the situation and minimize the loss of assets.

What is Fraud Detection?

Whether you suspect fraud within your company or you simply want to monitor the flow of money through your organization, fraud detection services will shine a light on any unusual transactions. A forensic accountant can help by uncovering potential embezzlement, employee theft, or any other type of fraud that might be going on.

Our forensic valuation team offers high quality fraud detection services for corporations and non-profit organizations. These services can be used to identify the source of fraud, so that you can quickly resolve the matter. Some instances of fraud we have uncovered in the past include:

  • false vendors
  • asset misappropriation
  • personal expenditures
  • false billing
  • ghost employees
  • skimming revenue
  • deferring revenue
  • hidden compensation
  • inventory schemes, and
  • breaches of fiduciary duties

Fraud Risk Assessments

Even if you don’t suspect fraud in your organization, it is likely that your business can benefit from a fraud risk assessment. This service will help you identify any potential weak points in the flow of money through your organization, so that you can put stronger checks and balances in place to identify problems if they occur.

Fraud Detection CPA’s in Maryland

Why is Fraud Detection Beneficial?

Without the services of a forensic accountant, it can be difficult to recognize fraud within your own organization. If these problems are not fixed, then it means that your company will continue to lose money through those weak points.

Our forensic accountants are trained to offer professional investigations. We can study the financial transactions within your company, analyze the information, and provide detailed reports about where the fraud is occurring. This process involves uncovering evidence and pursuing document trails to build a case against the person responsible for the fraud.

Through this process, it is possible for you to minimize the loss within your organization, and you can potentially recover assets that were lost, and maximize your return on the damages that have occurred. In addition to providing the investigative services, we also offer reports and expert witness testimony that can be used for depositions and during a trial.

Do you want to learn more about fraud detection? Contact us today at Weyrich, Cronin, & Sorra, because we are always available to answer your questions and help with the accounting needs within your company.