Fraud Investigation The Interview Process
Q1. Using private industry as a potential background for developing your fraud prevention and detection strategy, what type of external resource(s) would you recommend be established as soon as possible and included in the company’s marketing brochures as a value-added differentiating service with regards to reporting potential fraud that may be occurring in the asset disposition process? Keep in mind, this is not a SEC or a Securities Act situation.
One important source of value differentiation from other fraud investigative organizations can be the approach used by the emerging company. One such an approach is the SPEC (scope, plan, execute, close) model (Parulkar, 2010). The beginning of this method involves first determining the scope, or ascertaining the resources needed to complete actual job. This is followed by planning the investigation, executing the fact-finding exploration, and finally closing the investigation (Parulkar, 2010). While the sequential process may seem a simple one, marketing this method as a systematic approach may be useful. It is also useful to have a highly diversified fraud investigation team. Members of the team may include legal staff to determine what compliance measures are needed; forensic accountants; IT experts; and field investigators (Parulkar, 2010).
Particularly in today’s online-dominated world, where more and more legal documents and procedures are now performed online, having personnel who can evaluate online evidence to be credible or dubious in value is key. Having a diversified team is also useful as a way of connecting the organization to diverse external contacts outside the organization which may be helpful in researching various types of fraudulent practices. Given the rise of online technology, methods of fraud are continually changing and, sadly, growing more difficult to detect. It is very important for a private organization...
References
Giacalone, J. (2015). Four basic steps in a fraud investigation. LexisNexis. Retrieved from: http://blogs.lexisnexis.com/public-safety/2015/06/fraud-investigation-basic-steps/
Investigation. (2016). Association of Certified Fraud Examiners, Inc. Retrieved from: http://www.acfe.com/uploadedfiles/acfe_website/content/review/examreview/02-inv- interview-theory.pdf
Parulkar, N (2010). Investigate fraud with these best practices. Computer Weekly. Retrieved from: https://www.computerweekly.com/tip/Investigate-fraud-with-these-best-practices
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