Top Five FAQs For Forensic Accounting Services Provided By Veriti Consulting LLC QUESTION #1: What is the average loss suffered by occupational fraud? According to the most recent Report to the Nations, the median loss caused by occupational fraud is $140,000; however, more than one-fifth of these cases resulted in losses of at least $1 million. QUESTION #2: How is occupational fraud detected? More than likely, it is detected by a tip from an employee of the victim organization. QUESTION #3: Who commits fraud? According to the Association of Certified Fraud Examiners, fraud is committed by individuals who have a higher level of authority.  The majority of fraud was committed by those working in the accounting, purchasing or customer service departments, as well as those in sales and/or executive or upper management. QUESTION #4: My company gets an outside audit every year. Won’t this detect, or help prevent fraud? External audits should not be relied upon as a primary fraud detection method. Per the Association of Certified Fraud Examiners, external audits only detected three percent of reported frauds.  Effective internal controls, anti-fraud training, and good ethical tones from management should be implemented to help prevent fraud from occurring. QUESTION #5: What are typical traits for someone committing fraud? While not true in every instance, our experience indicates various red flags are employees who are living beyond their means, employees refusing to take vacation, and those who exhibit excessive control issues in the workplace. CONNECT WITH EXPERIENCED FRAUD, FORENSIC & ECONOMIC DAMAGES EXPERTS CALL: 877-520-1280 EMAIL: INFO@TRUTHBEHINDNUMBERS.COM

1. VERITICONSULTINGLLC
Top Five
Forensic Accounting FAQ’s
TRUTHBEHINDNUMBERS.COM
In-DepthExperienceandUnparalleledExpertise

2. QUESTION #1
What is the average loss suffered
by occupational fraud?
According to the most recent Report to the
Nations, the median loss caused by
occupational fraud is $140,000; however,
more than one-fifth of these cases resulted
in losses of at least $1 million.
TRUTHBEHINDNUMBERS.COM
In-DepthExperienceandUnparalleledExpertise

3. QUESTION #2
How is occupational fraud detected?
More than likely, it is detected by a tip from an
employee of the victim organization.
TRUTHBEHINDNUMBERS.COM
In-DepthExperienceandUnparalleledExpertise

4. QUESTION #3
Who commits fraud?
According to the Association of Certified Fraud
Examiners, fraud is committed by individuals
who have a higher level of authority. The
majority of fraud was committed by those
working in the accounting, purchasing or
customer service departments, as well as those
in sales and/or executive
or upper management.
TRUTHBEHINDNUMBERS.COM
In-DepthExperienceandUnparalleledExpertise

5. QUESTION #4
My company gets an outside audit every year.
Won’t this detect, or help prevent fraud?
External audits should not be relied upon as a primary
fraud detection method. Per the Association of Certified
Fraud Examiners, external audits only detected three
percent of reported frauds. Effective internal controls,
anti-fraud training, and good ethical tones from
management should be implemented to help prevent
fraud from occurring.
TRUTHBEHINDNUMBERS.COM
In-DepthExperienceandUnparalleledExpertise

6. QUESTION #5
What are typical traits for someone
committing fraud?
While not true in every instance, our experience
indicates various red flags are employees who are living
beyond their means, employees refusing to take
vacation, and those who exhibit excessive control issues
in the workplace.
TRUTHBEHINDNUMBERS.COM
In-DepthExperienceandUnparalleledExpertise

7. THANK YOU
FORVIEWINGTHIS PRESENTATION
PRESENTATION BY: VERITI CONSULTING LLC
8111E. THOMASRD. #120SCOTTSDALE, ARIZONA 85251
TEL: (877)520-1280 • EMAIL: INFO@TRUTHBEHINDNUMBERS.COM
WWW.TRUTHBEHINDNUMBERS.COM

8. EXPERTTEAM
TRUTHBEHINDNUMBERS.COM
In-DepthExperienceandUnparalleledExpertise
Liz Monty,
CPA/ABV, CFF, CFE, CVA, DABFA
Managing Director
John White,
MBA, CPA/ABV, CFF, CFE, CBA, CrFA, ASA
Managing Director

9. CONTACT
VERITICONSULTING LLC
CONNECTWITHEXPERIENCED FRAUD,
FORENSIC& ECONOMICDAMAGES EXPERTS
CALL:877-520-1280
EMAIL:INFO@TRUTHBEHINDNUMBERS.COM
PRESENTATION BY: VERITI CONSULTING LLC
8111E. THOMASRD. #120SCOTTSDALE, ARIZONA 85251
TEL: (877)520-1280 • EMAIL: INFO@TRUTHBEHINDNUMBERS.COM
WWW.TRUTHBEHINDNUMBERS.COM