Every organization is exposed to fraud and financial irregularities, both on the internal and external levels. Studies show that the average company loses approximately 3% of its sales turnover to irregularities and fraud.

Fahn Kanne Control Management specializes in the field of investigative accounting and can help your organization identify and prevent frauds of this type.

Investigative accounting is a special branch of accounting which developed as a result of the need to provide solutions in the field of ethics. This branch integrates accounting know-how with investigative experience, such as: interrogation, gathering information, quantification of damages and preparing the infrastructure for expert court testimony.

Identification and prevention of fraud

By minimizing risks, closing loopholes and improving the control framework, it is possible to reduce the scope of fraud even if it cannot be prevented totally.  Fahn Kanne Control Management has experts with extensive experience in this field, who can assist your organization in preventing fraud and who will conduct investigations to identify suspicions in a discreet and efficient manner.

A variety of services

1. Performing investigative accounting

All organizations in Israel are exposed to some extent to fraud from within and without.  Our services include the following:

  • Identification of fraud, embezzlement, white collar crime, and financial irregularities
  • Quantification and valuation of damages caused as a result of fraud and embezzlement
  • Conducting forensic audits and specialty audits for government ministries and enforcement bodies.
  • Preparing expert opinions and giving testimony in court proceedings
  • Location of embezzled assets and assistance in recoupment of such assets

2. Performance of fraud vulnerability studies

Prevention of fraud and improvement of work and control processes by performing fraud vulnerability studies, with a goal of exposing possible risk concentrations.

3. Accounting and Forensic assistance for legal proceedings and liquidation and receivership processes

  • Services designed for receivers, liquidators, judges and attorneys who handle business disputes, white collar crimes, embezzlement damages, loss of profits, insurance, and marital matters.
  • The services include:
  • Initial assistance in seizing documents, filtering, marking, and analyzing documents
  • Identification of deviant transactions
  • Analysis and follow-up of complex financial transactions
  • Preparation of expert opinions and appearance as an expert witness before an arbitrator or court
  • Identifying fraudulent transactions carried out immediately prior to cessation of corporate activity (articles 373 and 374 of the Companies Ordinance), such as: preference of creditors, embezzlement of assets, and emptying the corporate coffer
  • Assistance in conducting investigations of functionaries

4. Special investigations

A service designed for entities and promoters about to perform mergers, acquisitions, and joint transactions, as well as for companies interested in gather information on customers, suppliers, and competitors.

5. Money laundering

Identification, location, and disruption of money laundering activities.

Forensic Accounting Department

Our firm has a dedicated department that specializes in forensic auditing, integrating accounting know-how with special investigative techniques, with a goal of exposing, identifying and assisting in the prevention of fraud and embezzlements, financial irregularities and extraordinary occurrences in the financial area.

The department has extensive experience in the identification and prevention of embezzlements, in specialty audits in various areas and in the performance of accounting investigations at many government entities and in various organizations. The department consists of CPAs, certified internal auditors (CIA), certified fraud examiners (CFE), attorneys, experts in information systems and employees with extensive knowledge and experience in investigations in general and in forensic auditing in particular.

Members of our team act with complete discretion and in cooperation with the parties who requested the audit in order to achieve effective results. As part of the investigations conducted by the department, it followed the trails of financial transactions, gathered information on and identified, companies, senior executives and assets.

Our uniqueness

  • A dedicated department totally devoted to Forensic accounting
  • Service based on personal accompaniment of senior staff of the department, discretion, and professionalism of the highest degree
  • Assistance of all of the technical departments in the firm, including accounting, internal auditing, information systems, taxation, and economic consulting
  • Performance of investigations around the world, using the services of local experts from the Grant Thornton International network

 

Fahn Kanne Control Management Ltd. Shay Medina

Head of the Investigative Accounting Department

Find out more about Shay Medina