THAILAND FORENSIC SERVICES

1. Thailand Forensic Accounting Services

Forensic accounting is the specialty practice area of accounting that describes engagements which result from real or anticipated litigation, and encompasses both litigation support and investigative accounting. When confronted with a situation demanding special investigation and expert analysis of business information that requires outside expertise in accounting and financial analysis, call on our forensic accountants. We also assist clients with the information they need to assess the background, reputation, and integrity of any business before entering into a substantial financial relationship.

Fraud should be detected through effective internal control measures. However, in reality it is often uncovered by accident, through anonymous letters, or as a result of an unexpected business crisis. International Risk helps its clients mitigate the costs of fraud through our extensive capability and wide-ranging experience in tackling these problems.

Sometimes the fraud evidence trail is straightforward, but often it has been deliberately concealed. Fraud can be committed by customers, suppliers, distributors, employees, or by management. It often involves collusion between two or more employees or between an employee and an external party. Fraud is often complex, difficult to unravel, and handling it requires specialist knowledge. Fraud is increasingly international in scope. Very few companies are equipped to investigate fraud when they become its victim.

Our forensic accounting professionals have extensive experience in resolving a variety of complex white-collar crimes involving as follows:

  • Misappropriation of company funds;
  • False expense reporting;
  • Phantom vendors;
  • Procurement fraud;
  • Payroll fraud;
  • Kickback and secret commissions; and
  • Distributor fraud.

Conducting internal investigations requires far more than a series of employee interviews. Evidence of wrongdoing may be found through former employees, vendors, clients and other outside parties. It also may exist in documents outside the four walls of your offices. We use a comprehensive approach to corporate investigations.

Dealing with fraud and financial investigations requires more than technical know-how. It requires speed, sensitivity and discretion. We understand the importance of reacting quickly and confidentially to a crisis. We appreciate the need to stop illegal activity, safeguard your company’s assets and reputation, arrive at a resolution with as little disruption as possible to the regular flow of business, and prevent re-occurrences.

If your operation does become the victim of serious fraud, the survival of your business may be dependent on the successful recovery of lost assets. Investigating fraud to recover missing assets requires specialist skills that are not usually available in-house.

We provide a multidisciplinary team of investigators, computer forensics specialists and forensic accountants (supplemented, if required, by industry experts) to help clients who are the victims of fraud.

We provide clients with the information they need to assess the background, reputation, and integrity of any business before entering into a substantial financial relationship. This is particularly essential in business environments with weak corporate governance, a lack of transparency and where information in the public domain may be limited.

When organizations are exploring under-writings, investments, acquisitions, mergers or other commercial partnerships, among the principal’s questions to be answered are as follows:

  • Are the representations and warranties that form the basis for the deal accurate and complete?
  • What is the background and reputation of the parties with whom we will be doing business?

We seek out information on relevant issues such as management backgrounds, company reputations, ethical track records, regulatory compliance, market conditions, hidden interests, environmental liabilities and non-disclosure of material facts.

We are also able to evaluate critical intangibles that can impact the success of a proposed deal, including the compatibility of management styles, ethics and corporate cultures of potential alliance partners.

Our forensic accounting service will answer the following questions:

  • What went wrong?
  • How much money is involved?
  • Where is the money, and how can we get it back?
  • Who is responsible?
  • What steps now need to be taken?
  • Which controls failed?

Our forensic accounting service includes the following:

  • Quickly establishing what went wrong and developing a cost effective solution;
  • Collecting and securing vital evidence;
  • Obtaining information that the fraudster hoped to hide;
  • Conducting interviews with witnesses and suspects;
  • Identifying control weaknesses;
  • Investigating the quantum of the loss, including unforeseen losses;
  • Reconstructing damaged or incomplete accounting records;
  • Identifying potential recoveries, including from others less directly involved in the fraud; such as accomplices who laundered the proceeds;
  • Preparation of reports to support insurance claim, the initiation of civil proceedings or criminal complaints to law enforcement; and
  • If your business is regulated, the preparation of reports for regulators.