Advisory Services

Introduction

Fraud is an art of deliberate deception for unlawful gain and is as old as history. Advisory Services that IFAIA provides are largely related to fraud prevention and prevention of fraud and white-collar crime is what the corporate would seriously look for and that is what IFAIA is about. Fraud prevention does not only mean creating a work environment that values openness, it needs strategy and must remember that more effective is the strategy more effective will be the compliance and the starting point would be to place on record a 'Fraud Policy' and 'Fraud Risk Management Strategy', 'Computer Forensic and Data Protection Strategy' and have employees signed off on issues such as breach of trust, employee discipline statement which needs to be incorporated in Fraud Risk Management Strategy. Fraud Risk analysis focuses on Control and Control is a system that prevents, detects and corrects unlawful events. When we evaluate a control we must consider its reliability from a system perspective and better placement of Controls leads to stronger prevention.

Experience

IFAIA has a team of professionals who have in depth understanding as how best to place controls on record in order to prevent any wrong at corporate. IFAIA has a strong team who have been working in this direction and has helped various Public Sector, Multi National Corporations and Indian Corporate in:-

• Identifying the vulnerable areas in ERP Scenario which often are the weak links in the system
• Suggesting meaningful controls which are effective means of preventing wrongs and how best to monitor them
• Helping out in creating and developing comprehensive 'Fraud Risk Management Strategy' best-fit for the corporate
• Provide complete advisory support on fraud prevention

Our Approach

IFAIA closely work with corporate on advisory services with its in-house team.

Our senior members who have over 25 years of experience in fraud prevention, by placing various fraud risk policies, strategies and controls on record and through monitoring its close compliance, associate with the in-house Risk Management Group on continuation basis and as well as independently for complete review and reinforcement of existing fraud policies for better results.