FRAUD INVESTIGATIONS

Fraud happens and is a serious problem for all organizations, whether they are corporations, limited liability companies, partnerships, or even not for profit institutions. Regardless of the line of business, the fact is that employees and non-employees commit fraud. Most fraud is ongoing and does not stop once it starts. Very few thefts occur for the first time in large amounts. However, after the fraudster realizes how easy it is to take $100, the next week its $200, then $500, etc. By the time it is caught, each individual occurrence can be in thousands of dollars or more. Many are surprised to find out that most fraud is perpetrated by well-educated males in senior executive positions (61%), and is affected by conditions within the organization, beginning at the top, and filtering down. Many business owners will contend that there are sufficient internal controls in place to deter, or even eliminate, fraudulent actions. But experience has shown, internal controls do not entirely prevent fraud. Last year’s internal controls may no longer be as effective as when they were developed. Businesses change, that lead to introduction of new positions that may lead to recruitment of new employees or changing work methods/strategy. Rarely are internal controls considered in these circumstances.

At BP Karl having realized this international problem and being experts in this area, we staged ourselves and put in place experts at your disposal to undertake such unique and credible assurance as and when there is suspicion that things may have gone wrong. We have the experience and zeal to execute such investigative assignments given that several have been concluded in Malawi, South Africa and recently in Uganda. This includes the famous life style investigations that are commonly undertaken in South Africa generally for tax compliance.