Forenspect helps organizations to deal with fraud by adopting a proactive approach rather than reactive in dealing with fraud. With help of technology Forenspect automates the review of financial processes. The purpose of the review is to identify and red flag potential changes or anomalies in the organisations financial process that may be errors or, indicate an ongoing fraud scheme. Forenspect offers organizations a completely hands-off solution to identify and red flag risks in the payroll process.
An internal audit is a common way businesses can catch payroll schemes.
According to the Association of Certifie and some businesses have fewer anti-fraud controls making them especially vulnerable to fraud.
Payroll Fraud happens in 27 percent of all businesses and this is nearly twice as often in small organizations.
Here are some top fraud risks for businesses.