Kostin, Ruffkess & Company’s Fraud Services Group has the specialized skills and expertise to assist you in the prevention, detection, and risk assessment of fraud. While we conduct fraud investigations to document the losses caused by fraud, we also provide an array of services to assist your business in minimizing the risk of fraud.

Fraud is a real business risk that management must be aware of and take appropriate action to prevent or minimize. There are many internal controls, policies and procedures that can be implemented to reduce this risk. You cannot afford to wait until fraud happens before you address this issue. Your business’ success and your reputation are too important not to be proactive on this risk.

Occupational fraud significantly increases the cost of doing business. It is estimated by the Association of Certified Fraud Examiners (ACFE) 2002 Report to the Nation of Occupational Fraud and Abuse that the amount lost in 2002 to fraud was 6% of revenues or 600 billion dollars.

Why should I hire a Certified Fraud Examiner (CFE)?

A CFE is a specialist in the prevention, detection and deterrence of fraud. The designation is awarded by the Association of Certified Fraud Examiners to those who have the proven ability to prevent, detect and investigate a wide range of fraudulent activity.

Who is at greatest risk to be a victim of fraud?

Small businesses. Small businesses usually do not have the same level of internal controls as larger businesses and therefore losses are higher. Weak internal controls are the reason fraud occurs in 97% of the cases.

What is forensic accounting?

Forensic accounting is the term that refers to a broad range of investigative techniques that are designed to provide analysis and interpretation of accounting and financial information for use in determining the effect of a loss due to fraud for use in litigation or insurance claims.

Services

• Fraud Investigation
  • Forensic Accounting
  • Damage Loss Calculations
  • Contract Dispute Claims
  • Expert Testimony
• Fraud Prevention Check Up
• Development of Fraud Related Policies and Procedures including Code of Conduct/Ethics
• Development of Audit Committee Charter
• Background Checks
• Fraud Hot Line

We also provide Litigation Support Services in non-fraud related circumstances.

******Identity Theft****** by Joseph Centofanti, CPA, CFE, FCPA, CGFM

For more information on our Fraud Service Group and the services we offer, please contact Joseph Centofanti, CPA, CFE, FCPA, CGFM, Director of the Fraud Service Group at , or call 800-286-5726

Joseph Centofanti, CPA, CFE, FCPA, CGFM is currently President and Training Director for the CT Chapter of Certified Fraud Examiners for 2005-2006.