Fraud had historically been present in different forms in the corporate life. It affects organizations across the world regardless of size, location or industry. PricewaterhouseCoopers Economic Crime Survey 2007 statistics gathered for previous two years revealed that 43% of companies worldwide experienced fraud. The impacts of such events put company’s management, reputation and disclosed financial statements under immense scrutiny from the regulators.
1. Fraud risk management and fraud prevention
PwC forensic specialists can help you setting the company control environment to minimize the probability of fraud to occur and maximize the probability to detect it. Our forensic specialists have in-depth experience in advising its clients in:
- identifying the fraud risks
- identifying the weaknesses in internal controls exposing company to fraud risks
- conducting controls remediation to minimize potential fraud risks
- designing antifraud programs reflecting client and industry specifics.
The companies are under increasing and changing legislative pressures. With this regard we help companies to be compliant with:
- Anti-money laundering legislation
- FCPA legislation
We perform quality assurance reviews, design compliance programs.
2. Corporate fraud investigations
Our forensic experts are prepared to provide advisory in re-gaining lost values whether those are of a financial or non-financial nature. Our experienced forensic team conducts investigations, background searches, special interviews, analyzes of documents and accounting evidence. Moreover, our investigations are supported by unique forensic technology specialists who are able to run complex data analyses and various searches using various computer technologies.
Key success factor in the fast completion of the fraud investigation process is represented by comprehensive and structured background research once fraud occurred. Completion of fraud documentation for the forthcoming legal proceedings provides also the basis for setting new controls and workflows internally in within companies in order to prevent fraud in the future.
3. Commercial disputes / Acquisitions & shareholder disputes
Putting contractual clauses into practice and solving occurring commercial issues by referring to signed contracts may lead to different interpretations of contracted parties. We can advise you in your disputes on the economic and accounting valuation by using industry and valuation experts, financial experts or actuaries. Our accountants, investigators, financial experts, economists and engineers can condense, analyze and interpret significant volumes of data and present complex financial and technical findings clearly.
4. International Arbitration
Increasing number of business transactions and their complexity and global reach contributed to the fact that the international arbitration became the most frequent means of solving disputes. Among many services we provide for instance expert witnessing, investigation of consequences of disputes including breach of contracts or construction disputes, acquisition disputes and claims under investment treaties.
5. Licensing Management
Our globally integrated network of licensing professionals can help companies optimize their revenues, capitalize on and protect their intellectual property. In 90% of the royalty examinations for our clients, we uncover underreported revenues due to clerical errors, accounting mistakes or contract misunderstandings. Inevitably, there are financial recoveries, sometimes very substantial figures.
