Annemari Krugel
Head of Forensics
Eliminating exposure by bringing clarity
Fraud is a global problem with an adverse effect on organisations and it is difficult to determine the full scope of losses as fraud is often undetected and sometimes never reported. According to the Association of Fraud Examiners (ACFE) Report to the Nations (2020 Global Study on Occupational Fraud and Abuse) and research across 125 countries and 2 504 cases, it is estimated that losses of an estimated $3.6 billion arise from occupational fraud.
Over the 30 years our team has been conducting forensic investigations, we have observed various instances of corporate fraud that have been committed by employees, either acting alone or with outside accomplices, such as suppliers. Despite intense efforts by companies to stamp out corruption and misappropriation of assets, it appears that fraud in its various forms is a problem that is increasing in frequency and severity.
At BDO we bring knowledge, innovation and clarity to our clients through a multidisciplinary methodology that includes lifestyle assessments, lifestyle audits, fraud risk assessments and forensic investigations into possible fraud, corruption and other related offences. By being a deliberate and direct partner, we can help organisations detect, prevent and combat fraud, corruption and other related offences. Our mission is to provide clarity to our clients through the delivery of professional services, using technology and world class methodologies that will enable clients to protect their assets and credibility.
LIFESTYLE ASSESSMENTS & AUDITS
People are subjective beings, so it is not unusual that in any decision-making process there is an element of conflict of interest in some form or another - and we have found that the procurement process is usually the hotspot for such conflicts. These situations often involve an employee with procurement responsibilities (or a spouse or close family member of such an employee) having an undisclosed personal financial interest in one or more of the companies they are tasked with overseeing in the procurement process.
In order to identify conflicts of interest that may have resulted from employees engaging in business (directly or indirectly) with external entities such as clients and suppliers, we have developed a unique BDO lifestyle assessment and lifestyle audit offering. This gives us insight into the lifestyle of the individual/s and related parties so that we can pinpoint risk indicators which might further lead to the detection of fraud, corruption and other related offences.
We can also help you protect your company assets and brand reputation through our BDO lifestyle processes which might determine trends of material concern. Lifestyle assessments and audits are conducted as a pro-active measure to identify possible corruption, fraud and/or other related offences. Our process includes the analysis of income vs expenditure, assets vs liabilities and analysis of information declared vs financial information available from public platforms.
OUR APPROACH
We lead by example, being clear about our roles and responsibilities. We are also critically clear about where we can add value and how we behave in delivering our work. Our approach further includes innovative and modern technology solutions such as robotics, visual data analysis, digital inter-active dashboard reporting and electronic submission platforms.
Having completed over 500 lifestyle assessments and audits over the past year, our team of professional staff with 30 years of combined experience are highly qualified forensic specialists. Our lifestyle assessments and audits are designed around your company's needs and will be conducted discreetly, with a factually documented process available at conclusion.
TRUST IS PARAMOUNT
The privacy of our clients is paramount to us. To guarantee we are responsible with your data, we adhere to the Electronic Communications and Transactions Act, no 25 of 2002 and the Protection of Personal Information Act, no 4 of 2013 and all data will remain your property and will be retained or destroyed as per your instruction at the conclusion of the assignment.