• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • File a Report
  • Check Report
  • Client Login

Red Flag Reporting

Protecting Organizations & Their People

  • Home
  • About RFR
    • Our Team and Expertise
    • Who Do We Help?
    • Published Articles
  • Services
    • Hotline Service
    • Compliance Services
  • Benefits
    • Protect Employees
    • Protect Your Reputation
    • Protect Your Bottom Line
    • Manage Cases with Ease
  • Blog
  • Get Started
    • FAQ
    • Request a Demo or Quote
  • Contact Us

March 30, 2016

Found Fraud? Here’s A Next Step

Share on LinkedIn Share
Share on Facebook Share
Share on TwitterTweet

What is a wise next step once you, the small business or not-for-profit manager, has discovered workplace fraud? Consider enlisting a squad of professionals, be it a CPA, a Certified Fraud Examiner, law enforcement, an attorney, or other advisors.  Let’s profile some of the scenarios:

  • CPAs – While a CPA are a good resource, remember their primary function is not to detect fraud. Instead, consider tapping a forensic accountant, typically a CPA who is also a CFE (Certified Fraud Examiner) or CFF (Certified in Financial Forensics).

 

  • CFEs – Unlike CPAs and some forensic accountants, CFEs are often equipped and trained to confront suspected fraudsters and embezzlers. By virtue of their skill sets in investigations, law, financial review, and criminology, an effective CFE may eliminate additional examiners.  Choose wisely, however, not all CFE’s have strong financial knowledge or backgrounds.

 

  • Law enforcement– Law enforcement officers are a strong ally and may even be necessary for working with some insurance agencies. But with limited resources, even top notch law enforcement may not bring the speedy resolution you want or need.

 

  • Attorneys – Although you may ultimately need one, remember criminals can also enlist their own attorney. Beside, having an attorney does not prevent the criminal from skipping town, destroying or hiding evidence, or countersuing with a baseless suit.

 

  • Crime Insurance Agencies – Investing in crime insurance for your business is a wise protection, but claims often involve time-consuming examinations. Factor in the scrutiny of an audit, unforeseen delays, and the possibility of a denial.

Data supports occupational fraud accounts for 5% of annual gross revenue, the average loss being $145,000.  Workplace fraud is a headache to be sure.  The best defense after an offense is knowing your options for presenting a winning counter move.

Looking for an independent ethics hotline provider?  We can help!

Share on LinkedIn Share
Share on Facebook Share
Share on TwitterTweet

Filed Under: Fraud Prevention

We are Red Flag Reporting

We offer ethics, safety and fraud hotline / case management solutions to our clients via the web, over the phone and through other methods. Trusted by organizations large and small in 50 countries, we can help you!

We are an Ethics Hotline Service Provider
Find Out More  Get a Quote

Primary Sidebar

Hotline and Web Portal

We are an Ethics Hotline Service Provider

Get a Quote

We offer ethics, safety and fraud hotline / case management solutions to our clients via the web, over the phone and through other methods. Trusted by organizations large and small in 50 countries, we can help you!

Red Flag Reporting is Hiring!

About Red Flag Reporting Founded in 2010, …

[Read Article...] about Red Flag Reporting is Hiring!

Best Practices for Preventing a Workplace Retaliation Claim

Retaliation is the most frequent type of claim …

[Read Article...] about Best Practices for Preventing a Workplace Retaliation Claim

Internal Whistleblowers Face Few Protections: Why This Matters

The decision to become a whistleblower is never …

[Read Article...] about Internal Whistleblowers Face Few Protections: Why This Matters

Footer

Follow Along

  • Facebook
  • LinkedIn
  • Twitter

Red Flag Reporting

Red Flag Reporting provides compliance and ethics hotline services and case management software solutions to organizations seeking to promote safe and ethical behavior.

Reach Us

Red Flag Reporting
P.O. Box 4230, Akron, Ohio 44321
Contact Us

(Sales Office only – not a reporting line)
Tel: 877-676-6551
Fax: 330-572-8146

NOTE: Red Flag Reporting services are available for purchase by organizations only. We do not sell or provide our services to individual people.

  

 

Copyright © 2023 Red Flag Reporting all rights reserved. All other trademarks and copyrights are the property of their respective holders.

  • Red Flag Reporting – Ethics, Fraud and Whistleblower Hotline Service
  • Contact Us
  • Privacy Policy