Forensic Audits
A specialized type of audit designed to investigate potential fraud, financial misconduct, or legal violations within an organization
What is it?
A forensic audit is a specialized type of audit designed to investigate potential fraud, financial misconduct, or legal violations within an organization. It often involves gathering evidence for litigation or regulatory proceedings.
Forensic audits are typically used when there is suspicion of financial fraud, asset misappropriation, or other illegal activities, and they provide a clear, independent investigation to uncover the truth. They can be a crucial part of resolving disputes, supporting litigation, and ensuring that all financial practices within the organization are transparent and lawful.
Our Process
Our forensic audit process is highly methodical and focused on identifying fraud or financial mismanagement. The process includes:
1
Initial Consultation & Investigation Scope
We begin by consulting with your organization’s leadership to understand the nature of the suspected issue—whether it’s fraud, financial irregularities, or other concerns. We define the scope of the forensic investigation to ensure we focus on the areas of highest risk.
3
Data Forensics & Analysis
We use advanced forensic techniques to analyze financial records, digital data, and transaction logs. This helps identify patterns of fraud, misappropriation of assets, or financial irregularities. We also examine financial statements and supporting documentation to uncover discrepancies.
5
Fraud & Misconduct Detection
We investigate any potential fraudulent activities or violations of regulations, such as embezzlement, bribery, or financial manipulation. Our forensic audit team uses specialized tools to detect irregularities that may not be apparent through traditional audits.
7
Expert Witness Testimony & Litigation Support
If the investigation leads to legal action, we can provide expert witness testimony and assist in litigation support. Our forensic auditors are skilled in explaining complex financial data and evidence in a manner that is understandable for courts & regulators.
2
Evidence Gathering & Preservation
Our team works quickly to collect and preserve all relevant evidence. This can include financial records, transaction histories, emails, and any other documents that may be required for investigation or legal purposes. Evidence preservation is critical for maintaining the integrity of the case.
4
Interviews & Testimony Collection
If necessary, we conduct interviews with employees, stakeholders, or third parties involved. These interviews are essential for obtaining additional insights and evidence regarding the suspected misconduct. Our team is also prepared to provide testimony during legal proceedings if needed.
6
Reporting & Legal Documentation
Following the investigation, we prepare a detailed forensic audit report that outlines our findings, supported by evidence, analysis, and any recommendations for legal action. This report is structured to be admissible in court and can serve as evidence in legal or regulatory proceedings.
8
Ongoing Monitoring & Compliance Recommendations
After the investigation, we offer recommendations for preventing future fraud or misconduct. This may include strengthening internal controls, improving financial monitoring systems, and implementing employee training programs.
Your Deliverables
Upon completion of the forensic audit, you will receive the following:
Forensic Audit Investigation Report
Detailed findings supported by evidence, identifying any fraudulent activities or financial misconduct.
Evidence Preservation Documentation
Confirming that all evidence has been collected and preserved according to legal standards.
Fraud Detection Summary
Outlining the methods used to detect and uncover fraud or irregularities.
Expert Testimony & Legal Support Documentation
Prepared for use in litigation or regulatory proceedings.
Compliance Improvement Recommendations
Suggestions for strengthening internal controls and preventing future incidents.
Why Choose NDB?
At NDB, we bring a blend of expertise, experience, and precision to every forensic audit. Our forensic auditors have deep experience in detecting financial fraud, mismanagement, and regulatory violations across various industries.
We approach each investigation with a meticulous eye for detail, using advanced forensic techniques to uncover hidden issues that may otherwise go unnoticed. Our team is committed to providing clear, evidence-based findings that support legal action and help you mitigate risks going forward. By working with NDB, you gain a trusted partner who can help you navigate complex financial investigations, safeguard your organization, and protect your reputation.
Key Highlights about NDB:
Expert Team: Certified professionals with extensive experience in compliance and cybersecurity.
Comprehensive Services: Offering a wide range of services, including SOC 1, SOC 2, PCI DSS, ISO 27001, HIPAA, GDPR, CCPA, and more.
Tailored Solutions: Customizing our services to meet the specific needs of various industries and organizational sizes.
Commitment to Excellence: Focused on delivering high-quality services that empower clients to thrive in a complex regulatory environment.
Client-Centric Approach: Prioritizing collaboration and communication to build strong partnerships with our clients.
Canada’s Leading Provider for All Things Compliance
Fixed-fee services for SOC 1/SOC 2, PCI DSS, ISO 27001, HIPAA, HITRUST, GDPR, Pen Testing, Data Privacy, and so much more.