Australia

Fraud is on the rise in Australia putting many companies out of pocket and in some cases even out of business.  The potential cost of fraud to your business can extend well beyond its bottom line.  The discovery of fraud can jeopardise the reputation of your business in the market place and consequently diminish its value.

Perhaps the biggest fallout for a business is the sense of betrayal that can follow such an offence.  Research has revealed that the most likely offender is a long serving and trusted employee. The feeling of betrayal can in turn result in a loss of productivity due to falling staff morale.

Today, the variety of schemes used to defraud a business is astounding and can range from falsifying expense claims, to setting up a secondary business and submitting false or inflated invoices. A great number of these offences go undiscovered as many businesses do not have systems in place to uncover fraud even where it may be suspected.

William Buck’s Fraud Investigation and Prevention team brings together the expertise and experience of forensic accountants, internal audit and risk management specialists to provide a fully integrated service.

Our team applies proven methodologies and processes to ensure that your business is protected against the risks and costs associated with fraudulent activity.  By taking the time to get to know your business we provide a comprehensive and detailed solution that is tailored to your needs.

In the unfortunate event that a fraud has already taken place, our team is well equipped to identify the weaknesses in controls that allowed the fraud to occur and recommend practical improvements.  We can also assist in investigations and advise on an appropriate approach should criminal, civil or insurance recoveries be sought.
Our professionals are sensitive to the non-financial impact that fraud can have on your business and provide practical recommendations to improve controls and security

How we can help

Preventative fraud services

  • Risk Assessments & Control reviews
  • Development of robust fraud policies and procedures
  • Control testing and gap analysis
  • Assistance in identifying legislative obligations

Post fraud services

  • Detection & Investigation Services
  • Quantification of losses for insurance & civil recoveries
  • Criminal Investigation support services

Audit & Assurance >

Fraud Investigation & Prevention Specialists

Latest insights from our Fraud Investigation & Prevention team

16 June 2021 | Minutes to read: 2

New Director Identification Numbers to tackle illegal phoenixing

All directors of Australian companies will be required, by 30 November 2022, to obtain a Director Identification...
1 June 2021 | Minutes to read: 7

The purpose of an audit: an explanation for those that require, or should seek, an audit

This article will explain why organisations require audits, identify the legislation that enacts those audits, and detail...
1 June 2021 | Minutes to read: 4

SPFR Preparers: a plain language guide for what to expect under the new general-purpose financial reporting regime

Dear Special Purpose Financial Report Preparers – let me call you SPFRPs for short – it will...
1 June 2021 | Minutes to read: 7

Removal of Special Purpose Financial Statements for certain For-Profit entities

In March 2020, the Australian Accounting Standards Board approved the issue of AASB 2020-2  Removal of Special...
27 May 2021 | Minutes to read: 3

Not-for-profits entities and Australian charities and Not-for-profits Commission (ACNC)

What is a not-for-profits entity? A not-for-profit entity, as its name suggests, is an organisation that does...
20 May 2021 | Minutes to read: 4

Governance & Compliance | May 2021

Breakthru back-pays more than $2.7m   Disability services provider Breakthru Ltd is back-paying employees more than $2.7 million...

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Be Informed

Be Informed is William Buck's regular newsletter, filled with up to date news and relevant advice for individuals and businesses.

Get in touch!