Forensic Services

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Fraud is a problematic issue facing many businesses in Vietnam no matter which industry they operate in, their size or their ownership structure. Examples of fraudulent and/or malpractice issues that we have encountered in Vietnam are kickbacks, conflicts of interest related to procurement and contracts, related party transactions, expense claim fraud, loss of materials, cash and assets and non-adherence to contractual requirements.

Such fraudulent activities increase the cost of doing business, demoralise the workforce and require management’s attention to handle fraud allegations, financial crimes and other irregularities instead of focusing on running the business.

We have a team of 20 full time forensic accountants and technical specialists located in Vietnam, Malaysia and Thailand and over 800 full time specialists globally. The PwC Forensics network supports our clients; safeguards brand value and individual professional reputation and preserves revenue and assets. Our Forensic professionals specialise in fraud prevention, detection, investigation and remediation.

Common issues

  • Allegations or suspected incidents of misappropriation of company assets/funds
  • Financial statements which are fraudulent or misrepresented
  • Computer related incidents such as unauthorised access, suspicious transactions, suspicious system activities or targeted attacks, or licensing issues with clients
  • You need to ensure compliance with anti-money laundering rules, Foreign Corrupt Practices Act (FCPA) and other anti-bribery legislation
  • You need local Vietnamese forensic assistance to assist your corporate head office investigative team
  • You are having disputes or litigation over operations or contracts
  • You desire to decrease the risk of fraud occurring or non compliance with prevailing legislation

How we can help

Our local team of forensic specialists offer a range of services to address the issues above:

  • Fraud and compliance assessment: We will analyse and diagnose the fraud issues within your company, reviewing internal control breakdowns to give you a clear picture about your issues.
  • Data recovery: Our experts can forensically image, secure and analyse electronic data from a host of computer systems including laptops desktops, servers, pda's and mobile phones. Using proprietary tools we can organise and examine large volumes of data typically found in the corporate environment. This can include emails within the corporate mail system, file servers and financial data hidden within the Enterprise Resource Planning (ERP) system.
  • Data analysis: We can analyse a vast amount of data to identify abnormal patterns, errors, and fraud indicators.
  • Compliance reviews: We can conduct FCPA or other anti-bribery reviews, and anti-money laundering reviews.
  • Local support: We can assist your team to understand the local regulation, legal system, business practices and the Vietnamese culture.
  • Dispute resolution: We will help you by providing dispute analysis and litigation support by first conducting an initial assessment of the financial, economic and business merits of a potential claim or defence (where we may work closely with your legal counsel); assist with the discovery process; preparing and evaluating claims for loss of profits and other damages; providing information to assist with settlement negotiations; preparing an expert report for use in the dispute; preparing reports in response to experts acting for other parties in the action; and appearing in the dispute as an expert witness.
  • Fraud prevention: We can assist to review and design fraud prevention policies and procedures to ensure that you effectively reduce risk of fraud, improve process controls and monitoring, and compliance with prevailing laws and regulations. This will involve some or all of the components set out below:

Schematic of our fraud risk management process:

In our professional experience, controls alone are not enough as it is the organisation’s culture that makes the difference.  Hence to strengthen your response to fraud, we will assist you to combine the power of controls, people and culture because:

  • Fraud prevention and detection mechanisms are far more effective when supported by the appropriate corporate culture, and
  • Strong ethical culture is determined not by regulation alone but more by the “tone at the top”.

We can assist you in designing the policies related to fraud prevention, setting the correct “tone at the top”, design the right control and management programs, assist in identifying the right resources, design whistle-blowing policies and mechanisms, and design practical frameworks to manage related party transactions and conflict of interests.

Your benefits

  • Early detection of errors or fraud
  • A world-class experienced forensic team to assist you for your litigation process
  • An anti-fraud mindset embedded into your organisation
  • Better fraud management practices
  • Better compliance with regulatory requirements
  • Reduced fraudulent practices in your businesses
  • Reduced the cost to the business of fraud

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