Investigation Audit

Fraud Investigation Audit is necessary to fight fraud and is mandatory to identify the exact depth of the committed fraud. It is also mandatory to identify the gaps that caused Fraud to occur. Fraud Investigation Audit would help a company to assess the actual loss suffered by the company in terms of financial and non-financial aspects. A detailed fraud investigation report with proper evidence can help with legal proceedings if carried out.

What is Fraud?

Fraud is forging records and documents to deceive others. It is generally against business and moral ethics, which is, at times, done with a motive to take revenge on a specific person. Fraud is the biggest risk that businesses will face. It can have many negative effects, such as financial loss, shame, and damage, not to mention the loss of reputation. Fraud is usually conducted by vendors, employees, customers, etc., who are against the company to gain an undue advantage, such as financial gain or simply an intention to ruin the company’s reputation in the market. Only with a minute inspection is fraud revealed.

Different types of Fraud

Fraud can be classified as Civil or Criminal fraud. Here are different types of fraud that are done as per the nature and type of business. Some examples are:

• Cash theft
• Forging cheque
• Manipulations
• Stealing any inventory
• Asset theft
• Reimbursement fraud
• Payment fraud
• IT fraud
• Bribery
• Payment to dummy staff
• Fake claims
• Payment frauds
• Charities fraud
• Fake jobs and recruitment
• Stealing confidential data

Benefits of Fraud Audit Service Conducted in Dubai, UAE

Here are some of the benefits of a fraud audit service.

• Internal fraud investigations assist in the detection of internal fraud.
• It improves the company’s control system.
• A fraud investigation audit report can assist a company in avoiding long-term damage while also securing its reputation.

• It serves as factual information that can be utilized in court as a document.

   

Important Things to Keep in Mind While Performing a Fraud Examination

There is a very high demand for a skilled Fraud Examiner, which is constantly increasing. There are a few things to keep in mind before using fraud Examination Audit services, which include:

• The team or the individual must understand the finances and how the books of accounts are kept up to date.
• They should know how organizations manipulate financial books and be curious about new approaches to uncover anomalies in the business.

• Before using the services of a certain auditor or examiner, make sure to read their reviews.

   

Fraud Investigation Audit Services in Dubai, UAE

• Evaluates the suspected financial and operational reports of the company
• Helping the company with fraud prevention by performing an investigative review
• Preparing a fraud investigation report based on the investigation reviews
• Taking necessary action to prevent fraud in the future

Why Choose Reyson Badger?

Reyson Badger is an auditing services firm in Dubai that provides Accounting, Auditing, software consulting, and management services. At Reyson Badger, we assist our clients in identifying suspected fraud by analyzing company controls, operations, and practices. Within a few days, we also generate a full fraud investigation report. We have been offering the best audit and assurance services in Dubai and other areas.