Forensic & investigations
A brief description of each of our existing services is given below:
Fraud Investigations
The frauds one is most likely to encounter will depend on the nature of business and the way it is managed. In management ranks, expenses and purchasing are principal areas of fraud, with false reporting of financial information and siphoning of funds also being relatively frequent. The most frequent frauds by employees involve the theft of cash or inventory, or submission of false expenses claims. Cheque forgeries and purchasing frauds are also very common. Due to the increased sophistication of fraud and the requirement of prior experience in conducting fraud investigations, organisations have begun to realise that it is best for an expert who is independent and unbiased to conduct an investigation.
The overall objectives in a typical investigation are to:
- Investigate and determine if the al eged material financialirregularities and/or improprieties have occurred
- Attempt to quantify whether or not any of these alleged financial irregularities resulted in a monetary loss, and
- Attempt to identify persons who could be responsible for the aforesaid irregularities and/or improprieties.
A typical investigation involves the following procedures:
- Review of necessary documentation available with the Company or any third party related directly or indirectly to the suspicions of alleged irregularities and/or improprieties.
- Interviewing various employees, suppliers, customers, promoters and other persons considered necessary.
- Field visits, where necessary, for collecting evidence, verifying any information, data, etc.
- Conducting confidential background checks.
Corporate intelligence/ Pre-employment background checks
To answer the question of whether our clients can put trust inemployees and business partners, we conduct backgroundverifications to put our clients in a better position to make enlightened decisions. We conduct professional and impartialbackground checks on people and entities without violating their privacy to help base decisions on facts and not representations. We also help in collecting vital information touncover potential business problems in acquisition targets.
Brand Protection
Agencies or institutions give funds either directly to various organisations for specific projects or are themselves involved in projects. Such projects could be for social and economicdevelopment of an area or even infrastructure development. A major risk that such agencies or institutions encounter is ensuring complete, efficient and correct utilisation of the funds earmarkedand disbursed. To help them manage this risk, Grant Thornton's teams:
- carry out field visits,
- review the available documentation,
- understand the local social and cultural issues involved,
- speak to the local people and funding agency/ institution representatives,
- investigate any suspected irregularities and/ or improprieties,
As Grant Thornton combines various skill sets to complete the above tasks and utilize a range of data available, the reports tooreflect this diversity.
Fraud risk assessments
Risk is an integral part of business.Managing the risk of fraud isa crucial and integral part of any business. A fraud risk assessment is aimed at creating an environment that frustrates the perpetrator. We fol ow a tested methodology for such s assessments, i.e. form joint teams with the client to leverage off the knowledge of organisational culture, work environment and the industry knowledge. This approach allows for an immediate buy-in on the recommendations made, as client himself has beena part of the risk assessment exercise.Given our experience in conducting investigations, we are best placed to advice on how to mitigate these risks.
Fraud awareness workshops
These workshops allow our experts to interact with a large numberof people. In addition to conducting workshops under the aegis of various forums, client specific workshops are also conducted. Our team members have conducted seminars/workshops for: Association of Certified Fraud Examiners, India Chapter The Institute of Internal Auditors, USA (Delhi chapter)
Litigation Support
We provide expert opinions on technical questions of accounting, auditing, taxation or other areas of expertise. Leading to quantification of losses in respect to fraud, breach, disputedbusiness valuations, loss of profits, insurance claims, intellectualproperty disputes and in many other situations. An integral part of our work is to act as expert witness and explain the basis of ourcomputations, etc. either in an arbitration matter or a court matter.
Forensic Technology
Connectivity, while providing a plethora of opportunities, exposesyour organisation to new and varied business risks and chal enges. Threats arise from both within and outside the organisation, resulting in unauthorised access to information systems, disclosure of confidential and sensitive businessinformation, accidental or intentional modification of information,interruption or discontinuity of business services, etc. Forensic Technology professionals can extract, secure and analyze electronic evidence from relevant systems in a way that rovides a sound evidential basis for disciplinary, civil or criminal proceedings. Using data mining and data visualization techniques Forensic Technology can analyze data to provide an early indication of problem areas in a time sensitive way.
Asset tracing
In India and international y, changing economic conditions haveproduced fertile ground for the growth of economic crime. In response to occurrence of frauds, clients increasingly want to know how the can get their money back swiftly. Through our asset tracing and recovery services we help clients by: Tracing and identifying client assets that are in the unlawfulpossession or control of third parties
- Gathering intelligence on third parties
- Assist in recovery of assets through civil remedies