Forensic Audit Services

What Does Forensic Audit Mean?

A Forensic Audit Service examines and assesses individual monetary catalogue to extract evidence that can be used in a legal proceeding. In general, forensic accounting calls for the expertise of specialists with the educational background, sufficient experience, and technical know-how to prove fraud, embezzlement, money laundering, and ill-gotten assets.

Forensic Audit Services

 

If you suspect fraud within your organisation, you can call the Forensic Audit Service to confirm or disprove your suspicions. The investigators come with an open mind and refrain from making any assumptions gathering and examining the evidence. For example, missing money does not necessarily translate to embezzlement. Instead, flawed accounting methodologies may produce a data mismatch, which can explain the missing money. However, our clients do not only call us in cases of possible crimes. We can also assign you a dedicated forensic auditor in case of:

  • Insurance claims
  • Bankruptcy, where the investigator is required for recovery procedures. We can also help determine if the bankruptcy is tied to fraud.
  • Cybersecurity breaches

Forensic Auditing Services should not be confused with annual statutory audit services, which is a requirement for every company in Malaysia.

Scope of Forensic Audit Services

The process of the audit will include the following steps:
  • Gathering evidence
  • Reviewing the evidence
  • Preparing an accurate report
  • Reporting to the client

Statutory Audit Services in Malaysia Involves the Following Processes:

  • Reviewing the company’s internal control and processes.
  • Compiling, auditing, and preparing financial reports and other monetary statements.
  • Determining the risks and gaps in the processes.
  • Preparing recommendations on how to improve the processes and systems.

If Fraud has Taken Place, Forensic Accounting Services Will Help:

  • Identify the parties who are involved in the crime.
  • Determine the total loss and the financial health of the company in the aftermath of the fraud.
  • Present the findings to the management, shareholders, and the court.

The Forensic Investigator Will Determine:

  • If the evidence supports the suspicion of fraud.
  • If the evidence is not sufficient, find other possible ways to prove that fraud was indeed committed.
  • If the circumstances are enough to form a viable hypothesis of what could have occurred.
  • If the evidence is enough to establish the timeline of the fraud.
  • The motives of the perpetrators.
  • If there are efforts to cover up the evidence.

For more information about Forensic Auditing Services, get in touch with our representatives right away!