Investigative accounting

Background

Every organization is exposed to the risks of fraud, embezzlement and financial irregularities, at both the internal and external levels. Research studies have shown that the average company loses 3% of its sales turnover as a result of irregularities and fraud.

Our firm has a department that is dedicated to the field of forensic auditing. The department integrates accounting know-how and special investigative techniques in order to expose, identify and assist in the prevention of fraud and embezzlement, deviances and irregularities.

The department has extensive experience in identifying and preventing embezzlements, in conducting specialty audits in various fields, and in performing accounting investigations at many governmental entities and different organizations. The department consists of accountants, certified internal auditors (CIA), certified fraud examiners (CFE), jurists, information system experts and other employees with extensive investigative experience in general and in investigative auditing in particular. The staff members of the department act very discretely and in full cooperation with the clients in order to achieve effective results. As part of the investigations conducted by the department, it traced and found many financial transactions and gathered information regarding companies, senior officers and assets.

The investigative auditing department is one of Israel leading departments in this field of work. The department has amassed, since its founding in 1998, extensive experience in specialty examinations, accounting investigations, consulting and auditing of processes that are exposed to embezzlements and fraud in various organization, including government ministries, authorities, cooperative societies, not-for-profit organizations, public companies, private companies, etc.

Our firm is ranked by Globes Dun’s 100 and BDI as the number one firm in the field of investigative accounting.

To view the Globes DUN'S 100 ranking, click here

To view the BDI ranking, click here

The services rendered by the investigative auditing department

Performance of accounting investigations

All organizations are exposed in some form or another to internal or external frauds. The services we provide include the following:

• Quantification and valuation of damages caused as a result of the perpetration of fraud or embezzlements
• Performance of investigative audits or specialty audits on behalf of government ministries and enforcement agencies
• Preparation of expert opinions and testimony for court proceedings
• Location and recoupment of assets that have been concealed from creditors and others.

Accounting and investigative assistance for legal proceedings and for liquidation and receivership proceedings

This service is geared toward liquidators, receivers, judges and attorneys that handle business disputes, white collar crimes, embezzlement damages, loss of profits, insurance and family matters. The services include:

• Initial assistance in the impounding, classification, marking and analysis of documents. Identification of deviant transactions
• Tracking and analysis of complicated financial transactions
• Preparation of expert opinions and appearance in court or arbitration proceedings for purposes of giving expert testimony
• Identification of fraudulent transactions immediately prior to the termination of corporate activity (articles 373 and 374 of the Companies Ordinance), such as: prioritization of creditors, concealment of assets and emptying a company of its assets
• Assistance on the management of investigations of company officers

Specialty audits

Services geared toward entities and entrepreneurs who are facing mergers, acquisitions and joint ventures, as well as companies interested in gather information of their clients, suppliers and competitors.

Money laundering

Identification, location and disruption of money laundering activities

Our added value

• A department dedicated solely to the performance of investigative auditing
• Service based on the personal involvement of senior department staff, while maintaining discretion and professionalism at the highest level
• Since the founding of the department in 1998, we have amassed extensive experience in the performance of specialty audits, accounting investigations, consulting and controls regarding the processes that are exposed to embezzlements and fraud at various organizations, including government ministries, authorities, cooperative societies, not-for-profit organizations, public companies, private companies, etc.
• The assistance provided by the professional departments of the firm-at-large, in the fields of accounting, internal auditing, information systems, payroll control, taxation and economic consultancy
• Performance of investigations across the globe, utilizing the facilities of local experts from the member firms of the Grant Thornton International network of which we are the Israeli member firm.