Financial statement fraud is the deliberate misrepresentation of the financial condition of an enterprise. Its intent is to deceive financial statements users (e.g., shareholders, creditors, regulators). It has many forms and guises, but is perpetrated through intentional misstatements or omissions of amounts in financial statements. It occurs in large publicly traded companies. It occurs in small family-owned firms.
If you?re thinking about conducting background checks, you might be wondering if hiring a private investigator will make a difference. That is a good question to have because private investigation services don?t usually come cheap. Is it truly worth it to hire a private investigator for running background checks?
Most people think that a business only needs a private investigator when something goes wrong. Some think that a private investigator is only hired for investigating personal matters such as infidelity or finding missing children. Private investigation services have evolved by quite a lot in the past decade. These days, more private investigators are working with businesses than investigating personal matters.
Alarming as this may sound, CEO fraud emails are becoming more common in recent times. Scams like these are often well-crafted and may sound legitimate; thus targeting employees that may not be too savvy with how the organization works. For this reason, employee education is of utmost importance to combat this type of fraud and when possible, mitigate risks and losses.
Your lawyer is probably the last person you can expect to do something shady but sometimes people are simply not who they present themselves to be. Earlier this month in Rockland, Ontario, a lawyer had his license suspended after it was discovered that around $4 million in funds held trust for the lawyer?s clients was missing.