Our firm provides forensic accounting, fraud investigation and training services in Toronto and GTA. The ultimate objective is to minimize opportunities for fraud, waste and abuse of the corporate resources within an organization. We work with small and midsize clients.

According to the 2020 Report to the Nations published by the Association of Certified Fraud Examiners (“ACFE”), it is estimated that the typical organization loses approx. 5% of revenues to fraud each year.  In Canada, the median fraud loss is approx. $200,000 USD. It is 54% higher than the global median of $130,000 USD.

Victim organizations range from small local businesses to multinational corporations with thousands of employees. Frauds are committed by individuals in virtually every part of the organization, from entry-level employees to C-suite. One difficult aspect of fraud and white-collar crimes-it is hidden. We only know about the once that surface.

Occupational fraud—fraud committed against the organization by its own officers, directors, or employees. There are three primary categories of the occupational fraud. First, is the asset misappropriation such as theft of cash, data or property.  It follows by corruption and financial statement fraud (deliberate misstatement, misrepresentation, or omission of financial statement data).

Among the various kinds of fraud, occupational fraud is likely the largest and most prevalent threat.

Asset misappropriation is by far the most common of the three primary categories. It consistently occur in more than 83% of all cases. Occupational fraud typically tend to cause the lowest losses with the median loss of $125,000 USD per scheme. There are various techniques which an employee may utilize to steal company assets and resources. It includes theft of cash receipts and fraudulent disbursements of cash such as through billing schemes, fictitious vendors, fraudulent expense reimbursements, or check tampering.

On the opposite end of the spectrum is financial statement fraud, which was involved in less than 10% of cases. However, it caused a median loss of $975,000 USD. And corruption schemes fall in the middle in terms of both frequency and losses with median loss $200,000 USD.

WHEN YOU SUSPECT FRAUD, THEFT, OR OTHER WRONGDOING WITHIN YOUR COMPANY, DECISIVE ACTION IS CRITICAL

Victim organization will require a forensic accounting professional who able to apply professional accounting skills and an investigative mindset to provide answers. We dedicate ourselves to obtaining a detailed understanding of your unique case. Also, we work closely with you to identify internal control and compliance failures, and resolve your issues. We understand the sensitivities that can be implicit in these types of assignments. Communication and careful planning are the keys to a successful outcome. Our forensic accounting experts have earned a reputation for being credible, thorough, and intuitive.

OUR SERVICES INCLUDE:

For more information or to receive a free consultation, call us at (647) 877-5605 or complete contact form.