Detectives in Warsaw ›› Investigative and Investigative Audit of Economic Abuse
Investigative and Investigative Audit of Economic Abuse
Corporate crimes and fraud have surged in recent years. Research shows that globally, the scale of internal misconduct is growing exponentially, and Poland is experiencing even higher rates than Western Europe or the USA. Financial losses stemming from such activities increasingly burden companies and can severely impact profitability, posing a serious threat to corporate security. Contrary to popular belief, companies are not more vulnerable to external attacks, which they are often well protected against. In fact, more than 50% of business fraud is committed by employees, with significant losses resulting from dishonest actions and abuses by top-level executives.
Economic Abuse - How to Protect Yourself?
Every company is vulnerable to abuse from employees and internal stakeholders. However, not all companies can afford specialised investigative units to monitor financial processes, asset use, prevent document forgery, falsified expenses, or other harmful activities. These preventive measures are costly and resource-intensive. Nonetheless, companies can protect their assets by outsourcing these services.
Investigative Audit of Economic Abuse - What Does It Involve?
An investigative or forensic audit is a service focused on safeguarding resources against employee fraud and dishonest practices. At KOB GROUP, we conduct in-depth investigative activities that detect irregularities, identify those responsible for damages, and gather crucial evidence.
The causes of economic abuse vary—from security system errors, overconfidence, lack of process control, inadequate procedures, to the personal characteristics and behavior of employees. Regardless of the motive, it is critical to systematically eliminate and prevent such threats.
How Can KOB GROUP Help with Investigative Audits of Economic Abuse?
At KOB GROUP, we have extensive experience in conducting investigative audits of economic fraud. With the right expertise, tools, and a team of skilled specialists, we efficiently and effectively detect fraud and design preventive measures to safeguard your business in the future.
KOB GROUP auditors - highly specialised professionals
The audit team consists of qualified professionals: auditors, internal control specialists, and retired police officers with over 20 years of experience in areas such as the Department for Combating Organised Economic Crime, the Department for Combating Economic Crime and Corruption, and the Control Departments. The investigative methods used by KOB GROUP are always tailored to the individual needs and circumstances of the client, supported by effective and proven tools.
Investigation Audit - Scope of Services
- Verification of financial procedures.
- Examination of accounting records and financial documentation.
- Verification of assets and property.
- Control of purchasing processes from external vendors and the usage of goods in production and daily operations.
- Detailed examination of the circulation of information, documents, and assets within the company.
- Review of relationships and links within the company’s structure, including external connections of employees in key positions, such as procurement and tendering.
- Comprehensive collection of evidence for use in restoring desired conditions or as evidence in legal proceedings.
Investigation and inquiry audit - final report finalizing cooperation
The investigation and forensic audit concludes with the preparation of a comprehensive report detailing all detected frauds and irregularities, including the identification of employees responsible for losses or malfunctioning processes.
Further in the report, KOB GROUP analysts compile a list of the losses incurred. All information is verified and based on evidence that can be used in a court case against the perpetrators of fraud.
The audit report also contains precisely described recommendations, which include not only a description of the possibility of eliminating current (discovered) problems but also a package of recommendations and indications for the future, to prevent similar events from occurring. A team of investigators and consultants is also at the client’s disposal, ready to clarify any doubts and actively support the implementation of suggested changes in the company.
