📧 info@akwconsultants.com   📞+971 54 582 1550
📧 info@akwconsultants.com   📞+971 54 582 1550
What Is Fraud Risk Management?

In recent years, it has been noticed that in the emerging economic scenario, forensic accounting has got momentum. The council of the ICAI of India recognises the needs for Forensic Accounting and Fraud Detection. Forensic accounting utilises accounting, investing and auditing skills to examine the finances of an individual or business. Forensic accounting provides an accounting analysis that is suitable to be used in legal proceedings. With the rise in cybercrimes and fraud, forensic accounting and fraud detection are in increasing demand.

The expansion of online business channels has led to increased fraud instances, especially for e-commerce industries, airlines, banks and other industries. Every year companies lose billions and face heavy losses to financial crimes and frauds. To combat fraud, companies can extensively manage fraud detection and leverage analytical models with predictive capabilities to detect vulnerable transactions at the outset.

At AKW consultants, we provide tax fraud and forensic accounting to look beyond the numbers and deal with the business reality. Forensic accounting and fraud detection is frequently used in embezzlement cases to explain the nature of a financial crime in court. It is also used in the insurance industry regularly to calculate the economic damages from a vehicle accident or medical malpractices. We also provide forensic and fraud accounting in Dubai, especially in the insurance industry, to authenticate damages from claims.

    Following are the principal features of forensic accounting that you need to know:

    At AKW Consultants, we provide forensic accounting and fraud detection services and comprehensive fraud management services across the value chain to support leading global organisations across national boundaries. We provide forensic and fraud investigation in the UAE  to ensure efficiency in operations and businesses’ smooth functioning. The services we provide cut across analytics, technology, and people support. Our predictive fraud model is based on fraud propensity scores. We analyse the current transactions and categorise them according to previous fraud cases’ characteristics through multiple predictive techniques. 


    What We Do
    Prevention

    1.Conduct controlled risk assessment to identify gap areas vulnerable to fraud

    2. Develop Code of Conduct policies and standards

    3. Developing and implementing anti-fraud controls

    4. Communication and training

    Detection

    1. Whistle blowing policies and mechanisms

    2. Continues monitoring process and Audits

    3. Forensic Data Analytics

    4. Offshore Integrity Review and Audit

    Response

    1. Conducting Investigations

    2. Crisis Management and Remedial Action

    3.Act as Expert Witness for Dispute Resolution