Fraud Prevention and Detection

Fraud prevention and detection in forensic accounting involves identifying and mitigating risks of fraudulent activities within an organization. Forensic accountants analyze financial records and transactions to uncover discrepancies or suspicious patterns that could indicate fraud. Prevention methods include establishing strong internal controls and employee training, while detection focuses on continuous monitoring and investigations. When fraud is suspected, forensic accountants gather evidence to support findings, which may be used in legal proceedings. Ultimately, their work helps organizations safeguard their assets and maintain trust.