Advisory: Forensics

Fraud occurs when pressure, opportunity and rationalisation come together. Fraud has severe consequence and widespread impact on all key stakeholders in a business enterprise, including proprietors, investors, executives, employees, lenders, government agencies, law enforcements and regulatory authorities, and also auditors. It comes as no surprise then that fraud prevention has become a major global industry in its own right, with a plethora of legislative checks and balances sitting alongside new money- laundering and whistle-blowing regulations.

With a team of 20 full-time forensics accountants and technical specialists in Malaysia and Thailand, and 800 full time specialists at the global level, the PwC Forensics network supports clients; safeguards brand value and individual professional reputation; and preserves revenue and assets. Our Forensic professionals specialise in corruption and fraud prevention, detection, investigation and remediation.

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Litigation support

Business disputes and regulatory probes have become increasingly more disruptive, cumbersome and complicated. When faced with this challenge, companies and their counsel can call on our Litigation Support team. Clients can receive advice and assistance relating to damage assessment in complex litigation matters – we help with quantification of exposure, discovery assistance and gathering of financial data, and reconstruction of financial information.

Forensic technology solutions

Our Technology specialists can offer a broad range of services, including forensic technology, data discovery and eDiscovery, forensic data analytics, continuous controls monitoring (CCM) solutions and fraud detection technology. We are able to forensically image, secure and analyse electronic data from various sources, which are massive volumes of electronically stored information, by using specialised technologies. In addition, PwC partners with selective software providers to offer key technology solutions to perform risk assessments that can highlight potential fraud, control weaknesses, risky transactions and other possible risks.

  • Forensic technology, data discovery and eDiscovery: Organisations are often required to produce hardcopy documents and electronically stored information (ESI) as part of a discovery request, preservation order or subpoena. With as much as 90% of all business records now created and stored electronically, it is rapidly becoming a rule rather than the exception that discovery opponents will seek production of your electronic records. We can work with clients to identify, inventorise and secure all potentially relevant information, using evidential tools and methods to collect the available hardcopy data and ESI.

  • Forensic data analytics: Organisations have large amounts of data spread across financial, enterprise resource planning (ERP) and other disparate legacy systems. They are concerned about fraud and control weaknesses that bleed the P&L. We can help clients understand and reduce their exposure to regulatory violations, internal control weaknesses, fraud and other problems that can be revealed by examining their underlying data within the financial and business systems with defined methodology and technology frameworks.

  • Continuous controls monitoring (CCM): Using CCM methodology we can help companies, through rules and systems, to manage internal control more specifically, to prevent and diagnose fraud more effectively.

Fraud risk management

All business entities usually face a variety of fraud risks. Fraud risk assessments help management to understand the risks that are unique to their business, and identify gaps and weaknesses in the controls to alleviate those risks. Our team of experienced professionals focus on core areas of our clients’ needs including implementation and evaluation of anti-fraud programmes and controls, development of comprehensive fraud risk assessments, implementation of fraud auditing programmes that are tailored to individual client’s needs, and development of remediation plans after a fraudulent offence has occurred.

Investigations and forensic accounting

When a company uncovers fraud, either through proactive detection or happenstance, our Forensics team can assist clients in a confidential investigation. Our professionals combine deep investigative experience and advanced technology with industry and regulatory knowledge to assist clients and their counsel during all types of investigations.

Licensing management and contract compliance

Companies are constantly seeking to enhance revenue streams and manage risk. We help clients achieve this by examining compliance with licensing and franchising agreements. With an integrated network of licensing professionals across the globe, our expertise is unique as we employ forensic accountants, investigators and licensing professionals. Our unique blend of forensic accounting skills and industry knowledge enables us to quickly identify shortfalls in royalties that clients should receive.

Regulatory compliance reviews

Companies that have a presence in developing countries are frequently challenged by unfamiliar cultural and legal requirements; and foreign governments where lines between official and non-official statues are not always evident. Non-compliance in such jurisdictions can expose a company to unforeseen risk, and civil and criminal penalties. We provide confidential global resources to assist companies with implementing and/or assessing regulatory compliance programmes as well as supporting companies that may be subject to regulatory investigation, like under the Foreign Corrupt Practices Act (FCPA).