Forensic Audits
An investigation into financial records to detect fraud, embezzlement, financial misreporting, or other financial irregularities
What is it?
A forensic audit is an investigative process that involves a detailed review of financial records to detect and investigate fraud, embezzlement, financial misreporting, or other financial irregularities. Unlike traditional audits that focus on overall financial health, a forensic audit delves into the specifics of suspected wrongdoing, aiming to identify fraudulent activities and provide evidence for legal or regulatory action. Forensic audits are typically triggered by concerns such as employee theft, financial mismanagement, regulatory violations, or suspicious financial transactions. They can be a crucial part of resolving disputes, supporting litigation, and ensuring that all financial practices within the organization are transparent and lawful.
Our Process
Our forensic audit process is highly methodical and focused on identifying fraud or financial mismanagement. The process includes:
1
Initial Consultation & Scoping
We work with you to understand the issues at hand and define the scope of the forensic audit. This ensures we focus on the right areas, whether it’s a specific transaction, department, or broader organizational review.
3
Analysis & Evaluation
We perform a thorough analysis of financial records, identifying irregularities, tracing suspicious transactions, and assessing the extent of any fraud or mismanagement.
5
Legal Support & Recommendations
Our team can also assist with providing expert testimony or collaborating with legal teams to support prosecution or settlement efforts. We also offer recommendations for improving internal controls to prevent future issues.
2
Investigation & Data Collection
Our forensic auditors collect and analyze relevant financial data, documents, and records, applying advanced investigative techniques to detect discrepancies or fraudulent activities.
4
Reporting & Documentation
We compile our findings into a detailed forensic audit report, documenting the nature of the fraud or misconduct and providing evidence that can be used in legal proceedings, if necessary.
Your Deliverables
Upon completion of the forensic audit, you will receive the following:
Comprehensive Forensic
Audit Report:
This Comprehensive Forensic Audit Report details our findings, the scope of our investigation, and specific instances of fraud or financial misconduct.
Recommendations
Report:
The Recommendations Report outlines steps to improve internal controls, prevent future fraud, and enhance financial management practices.
Evidence
Documentation:
The Evidence Documentation supports our findings, organized in a manner that is suitable for legal or regulatory use.
Follow-Up
Support:
Follow-Up Support provides assistance with implementing corrective actions and supporting any ongoing legal or regulatory efforts.
Why Choose NDB?
At NDB, we bring a blend of expertise, experience, and precision to every forensic audit. Our forensic auditors have deep experience in detecting financial fraud, mismanagement, and regulatory violations across various industries.
We approach each investigation with a meticulous eye for detail, using advanced forensic techniques to uncover hidden issues that may otherwise go unnoticed. Our team is committed to providing clear, evidence-based findings that support legal action and help you mitigate risks going forward. By working with NDB, you gain a trusted partner who can help you navigate complex financial investigations, safeguard your organization, and protect your reputation.
Key Highlights about NDB:
Expert Team: Certified professionals with extensive experience in compliance and cybersecurity.
Comprehensive Services: Offering a wide range of services, including SOC 1, SOC 2, PCI DSS, ISO 27001, HIPAA, GDPR, CCPA, and more.
Tailored Solutions: Customizing our services to meet the specific needs of various industries and organizational sizes.
Commitment to Excellence: Focused on delivering high-quality services that empower clients to thrive in a complex regulatory environment.
Client-Centric Approach: Prioritizing collaboration and communication to build strong partnerships with our clients.
California’s Leading Provider for All Things Compliance
Fixed-fee services for SOC 1/SOC 2, PCI DSS, ISO 27001, HIPAA, HITRUST, GDPR, Pen Testing, Data Privacy, and so much more.