Corporate fraud investigations
With over two decades of experience, GoodCorporation has established a reputation as a trusted partner for addressing allegations of fraud and dealing with fraud prevention within an organisation. We provide clients with the tools they need to protect their interests, whether through internal investigations or the preparation of defence case support and materials.
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How GoodCorporation
can help
We assist our clients with complex internal investigations, providing forensic investigation services and conducting operative and efficient fact-finding strategies in a skilful and cost-effective manner. Recognising the complexity of the information often associated with fraud investigations, our experience allows us to translate highly technical information into clear and comprehensible reports that meet client needs.
Our knowledge of the ever-changing anti-fraud regulatory landscape, on-site experience and international network allow us to quickly identify fraudulent incidents, remediate them with corrective measures, and provide benchmarking data to support an adequate procedure defence to help frame our clients’ broader legal strategy. Â
Our fraud investigation methods and tools
Forensic analysis
eDiscovery
(internal|external)
Evidence
gathering and document review
Adequate
procedures benchmarking
Control integrity analysis
System | procedure failures | gaps
System testing
Interviews
Benefits of our workplace fraud investigations
Unlike many other investigations consultancy firms, GoodCorporation’s expertise comes from extensive first-hand experience of working onsite with clients to assess practices, procedures, systems and processes. This extensive onsite experience, together with our international network of local consultants, has enabled us to develop a distinct approach that is pragmatic while also being knowledgeable of local business cultures. GoodCorporation’s multicultural and multilingual teams enable us to carry out sensitive investigation work in various geographies and take cultural differences into consideration when addressing fraud allegations.
GoodCorporation’s anti-fraud expertise covers a breadth of fraudulent practices, including financial fraud, inventory and asset fraud. We provide our services across the full value chain, from ordering companies to their suppliers.
We also offer specific workplace fraud investigations into allegations of employee embezzlement, procurement and supplier fraud, payroll fraud and corruption and bribery. At GoodCorporation, we understand that investigations into allegations of corporate fraud require a high level of trust from our clients. We deploy small, stable delivery teams, not only to ensure the best continuity of services and reactivity to fulfil our clients’ needs, but also to guarantee confidentiality during the investigation.
Our consultants working on a fraud investigation will not change from one project to another and will work on the investigation from the day our clients seek support to the final the investigation conclusion. Â
Economic Crime and Corporate Transparency Act
Following the passing of the Economic Crime and Corporate Transparency (ECCT) Act in October 2023, extensive discussions have taken place regarding its scope and potential impact on reducing economic crime and fraud.
With Royal assent received, the Act is a significant addition to the legal framework targeting corporate crime and is expected to be in effect by the end of 2024. Recognising the multifaceted nature of fraud, the act aims to crackdown on a wide range of fraudulent activities, targeting large organisations specifically. The Act has also embraced two significant concepts, the ‘failure to prevent’ offence and the expansion of the identification principle.
Under this new piece of legislation, organisations in scope will be required to establish ‘reasonable procedures to prevent fraud’ to safeguard the organisation in the event of a prosecution. This becomes doubly important with the expansion of the identification principle as this makes it easier for regulators to attribute responsibility and bring about a successful prosecution.
Read our related blog
Complying with the Economic Crime and Corporate Transparency Act: what businesses need to do now
Framework on
Preventing Fraud
The GoodCorporation Framework on Preventing Fraud is a set of responsible business principles which can be used as a tool to improve the management practices needed to prevent fraud and fraudulent behaviour.
Designed to help organisations respond to the UK’s Economic Crime and Corporate Transparency (ECCT) Act, the framework covers all forms of fraudulent practice listed in the act, including mis-selling, mis-representation, false claims, over-charging and dishonest sales practices.
Framework on Preventing Fraud
All relevant business functions are covered, including sales and marketing, procurement, finance, government and regulatory affairs and human resources.
GoodCorporation uses this framework to help organisations evaluate their operations, identify where any risks of fraudulent practice might occur and help ensure that suitable controls and mitigation measures are in place. The framework can be used to conduct high-level reviews of policies and procedures, as well as site level assessments testing the effectiveness of any existing procedures already in place.
Companies working with GoodCorporation can use these assessments for board reports, internal assurances, external reporting and as evidence of reasonable procedures.
The framework follows GoodCorporation’s established methodology using our independent assessment process for evaluating the practices and procedures under review.
Frequently asked questions
What are the common signs of employee fraud?
Common signs of employee fraud include anomalies in financial records, such as discrepancies between reported revenue and actual income or irregularities in expense reports, as well as unexplained inventory shrinkage, where stock levels decline without a clear explanation. Additionally, sudden and unexplained lifestyle changes among employees, such as extravagant spending or unaffordable purchases, may raise suspicions of illicit behaviour. These red flags, when observed collectively or in combination, can signal potential instances of workplace fraud, prompting organisations to conduct thorough investigations to uncover any wrongdoing and protect their financial integrity.
How can workplace fraud be prevented?
Preventing workplace fraud requires a comprehensive approach. Implementing strong financial controls, conducting security audits, and establishing strict procurement regimes are crucial steps. Compliance with anti-bribery legislation and implementing clear policies and training programs are also essential. Additionally, being vigilant for behavioural red flags among employees can help detect potential fraud early. By integrating these measures, organisations can mitigate the risk of workplace fraud and protect their financial integrity. To find out more about how your organisation can prevent fraud, contact a member of our team here:https://www.goodcorporation.com/contact-us/ Â
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