METHADOLOGY AND SKILLS EMPLOYED
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The forensic investigator employs a diverse variety of methodologies and skills. The factors below must not be seen as an exhaustive list of factors, methodologies and skills employed by us but rather a key list of important and crucial methodologies and skills:
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- Investigation is a vital part of auditing process but only applied when the event or transaction is becloud
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- It could be referred to as a details verification and clarification of doubt about a transaction or event
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- The search and examination of the particulars of an event to determine the hidden, unique or complex facts surrounding the event
- Investigation is a structured gathering of documentary evidence and testimony to resolve an allegation of improper activity
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- The investigation tries to determine whether misconduct/fraud has taken place and tries to detect evidence pertaining to the alleged misconduct/fraud
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- The investigation would probably entail the use of assets searches, CIPC searches, business investigations and other types of methods to get to the bottom of the case
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- The most common feature of asset misappropriation is the theft of cash or other assets from the subject entity for example:
*Cash Theft: The stealing of physical cash for example petty cash
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*Fraudulent disbursements: Company funds being used to make fraudulent payments or payments were there are cause behind the payment. Common example include billing schemes were payments are made to fictitious supplies/creditors and payroll scheme where payments are made to fictitious employees (often known as “ghost employees”)
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*Inventory Fraud: The theft of inventory/product from the subject entity
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*Misuse of assets: Principal/employees using company assets for their own personal interest
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*The investigation will be done on the flow of funds into and out of the subjects entity’s bank account and the search for underlying documents for questionable transactions
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- Investigation in obtain information about the suspect business includes information about the organization, personnel, money flow pattern and location of bank accounts, financial condition and record keeping
- The investigation would also include investigation in what is known as “financial statement fraud” which is often carried out with the intention of presenting the financial statements with a particular bias, for example concealing liabilities in order to improve any analysis of liquidity and gearing. This is known as fraudulent financial reporting which can include:
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* Deliberate falsification of accounting records;
* Omission of transactions, or
* Balances or disclosure from the financial statements
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- The following questions provide lead way into resolving suspicions conduct of target persons or enterprises:
* How?
* Who?
* What?
* Where?
- The investigation is concluded with the delivery of a report to the client. The report is done on the bases that, it:
* Provides a factual correct executive summary of findings during the investigation
* Is not accusatory, inflammatory, prejudicial or conclusive as to guild. This is done as the report must be unbiased as it might form part of civil or criminal litigation.