White Collar Matters Solutions
The white collar matters cited below are generalized to preserve the nature and confidentiality of the subject matters of these services and illustrate the types of matters resolved. Services generally included identifying the occurrence of an error or irregularity, quantifying the misappropriations of company’s assets by managers or employees and recommending processes and procedures to provide reasonable assurance those defalcations will not recur. Matters include:
Embezzlement and record destruction: Investigated and estimated the monetary value of bribery, embezzlement of company assets and destruction of accounting records.
Management collusion: Determined the effect of collusion of managers, falsification of time and expense reports and customer invoices and embezzlement of customer overcharges collected.
Audit failure: Assessed the adequacy of auditing procedures that failed to detect a significant embezzlement of company inventory and the misstatement of assets and operations in financial statements that were relied upon by lenders.
Due diligence negligence: Evaluated the adequacy of due diligence procedures by company managers to induce a business purchase and fraudulent commissions from selling parties.
Payroll processing: Calculated the value of erroneous employee entries into the payroll processing modules and embezzlement of company assets by a third party payroll processor.
Payroll processing center: Investigated the defalcation and processing of client company financial instruments.
Cash control: Determined the extent of forgery of bank records and embezzlement of company assets from lack of cash oversight procedures.
Claims processor: Estimated the nature and effect of fraudulent implementation of contract terms in the calculation of administrative cost recovery by a third party processor.
Subcontractor compliance: Identified the frequency of incidents of non-compliance to work agreements and fraudulent billings for services not performed.