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Frequently Asked
Questions

When is it worth taking anti-fraud services?

Anti-fraud services cover diverse services including fraud prevention, fraud detection, fraud investigation and services provided after a fraud has occurred and detected. It is worth taking fraud-related services among others in the following cases:

  • a business endeavors to prevent fraudulent activities thus pays extra attention to set up a cost efficient internal audit and fraud prevention system based on identified fraud risks in a professional way;
  • an organization’s owners and managers are committed to following high-level ethics and doing business in a fair way, and they want to strengthen this commitment among colleagues and business partners, as well;
  • a fraud is suspected to be in progress at the company thus it becomes necessary to pursue a full fraud investigation;
  • after detecting a fraud the company wishes to take legal steps against the perpetrators and after identifying circumstances enabling the fraud to occur intends to build adequate controls in the prevention system.
Why is it worth taking anti-fraud services?

A fraud committed against the company has a straight impact on its efficiency and profitability. A fraud is extremely costly: its price is paid jointly by the organization, the employees and the company’s clients and customers as direct damages and losses incurred from the abuse shall be produced again in order to maintain the planned business results. Further, fraudulent activities may impair the competitiveness, market perception and reputation of the business entity which factors have also significant direct and indirect impact on the company’s performance.

What does fraud risk assessment mean?

Based on mapping a company’s business processes and organizational structure, fraud risk assessment is intended to establish which business units in the organization are exposed to fraudulent activities and how high is their probability . The most appropriate starting point for building up an efficient fraud prevention system is a professionally substantiated fraud risk assessment which is based on the due diligence of the business procedures.

What is the output of a fraud investigation and what can it be used for?

As an output of the fraud investigation process we prepare an in-depth fraud investigation report which contains the identified circumstances of the committed fraud, notably the perpetrators participating in it, the evaluation of the evidence supporting the fraud and the conclusions of the fraud examiner. The conclusions of the fraud investigation report make it possible for the owners and management of the company to take necessary and well-founded legal steps (if they wish to do that), namely to initiate civil law, criminal law or labor law procedures provided the necessary legal conditions are met.

What are after-fraud consultancy services directed to and why is it worth taking them?

The aim of after-fraud consultancy services is to provide professional assistance to our Clients in adequate interpretation and evaluation of the possible legal consequences of the abuse committed based on the fraud investigation report. These services include the exploration of opportunities for legal accountability of alleged perpetrators and weighing the open legal options in order to recover the damages incurred based on the available evidence. Moreover the conclusions of the fraud investigation report make it possible as a starting point to improve and revise the existing fraud prevention system in order to avoid and mitigate potential fraud occurrences in the future.

How the advisory team is compiled?

The advisory team is always compiled based on the specific client needs and the purpose of the assignment so that our Clients receive productive services and solutions conform to their requirements in every single case. Our advisors and expert partners are professionals having extensive expertise in business, legal, taxation, security, audit and fraud examination fields and whose professional experience ensures for our Clients high-level and at the same time feasible and practical solutions as a result of individual assignments.

How are the services priced?

The pricing of our services is always in accordance with the object of the assignment. Since each task is unique, we assign our fees to the end results expected by our Clients and to the professional procedures necessary to achieve those. Before entering into assignment contracts, we find it important to pursue detailed discussions with our Client in order to mutually clarify the expected results of the assignment and the service environment, thus in lack of individual reconciliation we cannot give any preliminary fee quote in a responsible way. Depending on the object of the assignment, our service fees can be determined as a fixed fee, as capped hourly rates with time estimation or as a combination of them. Provided the fulfillment of the assignment requires cash expenses, the settlement thereof is always subject to a separate agreement.

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