Frequently Asked Questions

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It's very difficult to estimate the fees of a forensic audit because usually the extent of the issues is not known at the beginning of the engagement. For instance, one issue may initiate a forensic audit but during the course of an engagement other issues come to light. Based on our experience, the best way to proceed with a forensic audit is the phased approach. The anticipated work and fees of each phase are determined before the work is started. Depending on the results of the first phase, the work may move onto other phases as needed. Work is billed based on hourly rates and time expended.  

The timing of a forensic audit depends on many factors and is difficult to predict. Working on a phased approach helps you control the time and cost. 

• A financial manager of an organization suddenly quits. Upon review, it appears that some unusual bank transfers were done prior to his departure.
• A board member of a non-profit organization notices an odd expense item on the monthly financial report and discovers a payment made to an unauthorized vendor.
• An accounts payable clerk opens a new credit card on a company's existing corporate credit card account and uses this credit card for personal purchases.
• An employee for a retail company steals inventory and takes it home where she sells it online for personal profit.
• A general manager of a construction company uses the company's equipment and employees without permission for the benefit of his side business.
• An executive of an organization disguises personal expenses as corporate expenses in her expenses report.
• A bookkeeper forges the owners’ signatures on company cheques and pays for personal items.
• A customer service employee processes fake refunds and applies the refund amount to his personal credit card.
• A division manager manipulates inventory to create higher profits and earn higher bonuses.
• An employee sets up a fake company and pays this company from the employer’s funds for fake services.
• An employee overpays a supplier and receives a kick-back from the supplier of some portion of the overpayment. 
• An off-site employee encourages customers to go to a competitor run by a friend of the employee.
• A property manager steals contingency funds from a strata property and misrepresents the financial reports to hide the missing funds.  
• A professional bills the government for work not done. 
• Employees pocket payments from customers meant for their employer.
• An employee encourages a customer to pay him a bribe in order for the customer to obtain a product from the company which is in limited supply.