Examples of financial fraud revealed by forensic accounting
Business development is very demanding in a globalized world where the competition is huge. Bad plans, execution, but also unwanted problems like financial fraud can stand in the way of success. It is a shocking statistic that thefts committed by company employees cost organizations more than 50 billion dollars a year. Enemies can be inside or outside the company, but…
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Fraud detection and risk assessment with forensic accounting
Manipulations in reports and accounting records are present in almost all countries. The public in Croatia often views entrepreneurship with a negative sign due to suspicions of financial fraud. And while anecdotal evidence may be a remnant of some past thinking, it is unquestionable that, as in the rest of the world, problematic financial transactions and illegal accounting practices occur…
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Why do companies need financial and accounting forensics?
Almost nothing can set back a company’s operations like malfeasance in financial operations, for which, in addition to the initial loss, an even higher price can be paid in the form of fines and other regulatory consequences. Modern companies are vulnerable on many levels. A good example is cyber security and the rise of online threats in the world. Fortunately,…
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