Not considering one aspect or another risks jeopardizing success.
New York, NY (PRWEB) July 28, 2008
Dealing with corporate fraud increasingly requires multi-purpose teams, bridging legal, accounting, technology and investigative skills, according to a report from Kroll, the world's leading risk consulting company.
"Increasingly, the cases we deal with are cross-border and multi-disciplinary," said Blake Coppotelli, a New York-based senior managing director in Kroll's Business Intelligence and Investigations division. "Not considering one aspect or another risks jeopardizing success."
Intricacies of the U.S. legal system are increasingly affecting the way investigations are tackled, even in cases outside the United States. "Concepts like privilege and discovery must be considered in any investigation," said Coppotelli. "The application of U.S. law to foreign subsidiaries, increased litigation and legislation like the Foreign Corrupt Practices Act underscore the need for sound investigative methodology."
Furthermore, using sophisticated accounting techniques to detect, trace and resolve frauds is essential when the results may impact financial statements. "The skills of forensic accountants are essential both to uncovering the extent of certain frauds and to negotiating the regulatory challenges which they entail," said David Hess, a managing director in Kroll's Forensic Accounting and Litigation Consulting practice
The latest edition of Kroll's Global Fraud Report explores some of the complexities of a successful investigation, including:
- Culture and diplomacy: managing constituencies, often across borders and cultures
- Technology: gathering, protecting and using electronic evidence
- Accounting: tracing and recovering assets
- Legal: preserving privilege and maintaining confidentiality.
- Reporting: oral and written reports
- Management: keeping momentum when hard evidence doesn't surface
- Law Enforcement: How and when to liaise
- Choosing an investigator: making sure your story gets heard - and believed
To obtain a copy of the Global Fraud Report (July 2008) visit http://www.kroll.com/fraud.
Kroll, the world's leading risk consulting company, provides a broad range of investigative, intelligence, financial, security and technology services to help clients reduce risks, solve problems and capitalize on opportunities. Headquartered in New York with offices in more than 65 cities in over 33 countries, Kroll has a multidisciplinary team of more than 3,800 employees and serves a global clientele of law firms, financial institutions, corporations, non-profit institutions, government agencies, and individuals. Kroll is a subsidiary of Marsh & McLennan Companies, Inc. (NYSE: MMC), the global professional services firm.