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Juan Carlos Venegas
Forensic accountant, fraud specialist and finance trainer
No.1 Provider of Non-Execs to UK SMEs
“Helping an SME client detect fraudulent
transactions and mitigate their
How I helped an SME client detect fraudulent
transactions and mitigate their exposure
Juan Carlos Venegas:
“I was tasked to carry out a forensic audit due to allegations of
fraud within the company and to set up procedures for prevention”
“The work Juan Carlos Venegas undertook helped the company
detecting „red flags‟ of fraud and a conspiracy to defraud the
company hundreds of thousands of pounds. The forensic audit that
Juan Carlos Venegas carried out identified and quantified losses of
£50,000, but those losses could have been higher without setting
up stronger procedures. Now our exposure has been minimised
but we continue to implement independent reviews and regular
tests of our procedures”
How I helped an SME client detecting fraudulent
transactions and mitigate their exposure
The company had weak internal controls and they lacked an independent
review of transactions, proper authorisations, reconciliations and proper
closure within a set timeframe
Overcoming the challenges
I first carried out a forensic audit in order to identify where loss of assets and
resources could happen and also to quantify the losses. Then I designed
proper internal controls and procedures, training and awareness on fraud for
staff so the company could mitigate their exposure to the risk of fraud.
What value was your role to them
They became more conscious of the risk of fraud and the loss and damage
that would represent to the company. They were receptive to the new ideas
and to the fact that they were not free from the risk of fraud as they thought.
Profile: Juan Carlos Venegas
Juan Carlos is a hands-on individual who takes a proactive approach to the issues that
companies face. He applies his knowledge and experience to the individual cases and
listened to their clients and their needs.
His skills and experience have been developed from what he has observed as a common
factor in a number of different companies. And he uses that knowledge and experience
in his training for companies worldwide.
Fraud prevention and detection
Financial statements analysis and data analysis
Forensic audit and fraud investigations
Budgeting, forecasting, financial management and final accounts
NXD is the No.1 Provider of Non-Execs to UK SMEs
Wanting to grow their business to the
Concerned that their business is
getting too big to manage
Frustrated with persistent and
Facing new types of challenges in the
Preparing their business for succession
Needing a high quality, independent
NXD non-executives have substantial
commercial experience that enables them
to act as a seasoned sounding board. They
also have the commercial acumen to help
you improve your financial performance.
Non-exec services include:
Vision, strategy, planning
Succession planning, acquisition & exit
Geographical and product expansion.
NXD non-executives operate across the
full range of industry sectors including:
Charities & Not For Profit
Energy & Chemicals
Healthcare & Pharmaceuticals
Leisure & Tourism
Property & Construction
Retail & Consumer Goods
Transport and Logistics
NXD is a network that provides non-executive services to SMEs.
Challenges that the NXD non-executives work with business owners to address
NXD is a membership organisation of 100 plus business leaders using their
experience and skill to help hundreds of businesses across all sectors improve
their financial performance.
It is a fact that SME’s with non-executive directors consistently outperform their
counterparts who don’t have one.
NXD will help you find the right non-executive director for your business, the one
that will add real value and help take your business on to the next level. Even
better, we normally find the person for you free of charge.
Contact: 08450 038 213