Techniques to Detect Corporate Expense Fraud via Forensic Accounting Harvard Case Solution & Analysis

Techniques to Detect Corporate Expense Fraud via Forensic Accounting

Fraud

The most appropriate way to steal cash and other resources from a firm is fraud, which can be of many types such as manupulation, falsification and misrepresentation.However,nowadays employees have a more appropriate way to steal cash and other resources, which is known as corporate expense fraud.

Corporate expense Fraud

Corporate expense fraud is a very convenient way to steal cash.Through this method, employees can easily manipulate resources by using their rights. This method involves the presentation of invoices, bills checks and other receipts again and again in front of different approvers for the approval and then the cash is stolen.

This fraud can be of both types i.e. intentional and unintentional, which means that the employee can make it in the confusion of what he has allowed and what doesn’t.

This type of fraud may contain further sub types which are stated below

• Mis characterized expenses (Claiming different sort of expenses which didn’t incurred )
• Inflated expense claims (claiming expenses at a higher prices)
• Falsified claims (claiming those expenses which are not originally made)
These accountants and financial anlysts are professionally trained to detect errors and frauds in the company and are highly paid for the specific job.
Forensic Accounting Methods of Fraud detection (Corporate Expense Fraud)
Forensic accounting is a globally used technique for fraud detections as we discussed earlier and we have certain techniques to identify frauds under the forensic accounting, especially we will discuss techniques for the detection of corporate expense fraud. (How to Identify Expense Report Fraud, 2015)
• Direct method
• Indirect method
• Cash T method
• Sources and application of fund method
• Net worth method.........................

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