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Fraud Investigation Recovers 100% of Losses

Distribution company on the east side of Houston. 100+ employees - Many employees have been with the company since the formation 25+ years ago.

  • Fraud Investigation
  • Internal controls
Solution & Benefits

This investigation covered four years of accounting transactions including accounts payable, fixed assets, payroll, petty cash, and travel expenses. All transactions and processes that the controller touched were included.

The engagement determined that the controller had misappropriated $225,000 over five years through concealment and taking advantage of a weak internal control environment. Due to the controller's tenure with the company, there was a large amount of trust in this person by company management and employees. The company had insurance coverage for employee theft and our thorough investigation and documentation allowed the company to recoup 100% of their losses.

We also made recommendations to significantly improve their internal control environment to reduce the opportunity for fraud in the future.

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