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Fraud Deterrence

Strong internal controls are the foundation of fraud deterrence. Recent studies have concluded that nearly 90 percent of fraud could be avoided by an appropriately defined and rigorously enforced structure of internal controls. Additionally, recent regulatory guidance for companies producing public financial statements reinforces the role of strong internal controls in the financial reporting process.

While other advisors focus on increasing the chance fraudulent activity is detected, CCA believes that the best way to combat fraud is through active fraud deterrence. Our fraud deterrence services help organizations remove the causal factors of fraud through comprehensive internal control assessments. By removing these causal factors, organizations are made less susceptible to fraudulent events.

Our team members are nationally-recognized leaders in the field of fraud deterrence. In 2006, members of our firm authored The Handbook of Fraud Deterrence, a comprehensive treatise that explains fraud deterrence through internal control improvement within the structure of forensic accounting procedures. Our fraud deterrence engagements are performed by individuals who are designated as Certified Fraud Examiners (CFE), Certified Public Accountants (CPA) with Certified in Financial Forensics (CFF) credentials, Certified Fraud Deterrence Analysts (CFD), Certified Forensic Financial Analysts (CFFA), and Certified Internal Auditors (CIA).

Each member of our senor team of professionals has over 20 years of expertise in analyzing and improving internal control structures. Our engagements help companies ensure compliance with all sections of the Sarbanes-Oxley Act (including Section 404 compliance) and Foreign Corrupt Practices Act. We have performed such activities for numerous multinational corporations and public companies.

There are 3 factors present in every fraudulent situation: motive, opportunity, and rationalization of the act. There are also straightforward actions that can be taken to shield an organization from the risk of fraud. Our assessments focus on removing the causal factors of fraud by implementing these actions.

Our fraud deterrence engagements:

  • Help companies better understand their internal control structures
  • Follow guidelines set by the Sarbanes-Oxley Act and Foreign Corrupt Practices Act
  • Assist in removing causal factors of fraud from the organization
  • Assist companies in minimizing the risk of material misstatements due to fraud