Forensic Focus on COVID-19
Conducting investigations remotely during times of uncertainty
What steps you can proactively take to help respond to and recover from the outbreak and mitigate potential fraud and financial crime risks?
Companies are facing significant operational, financial, and strategic challenges as a result of the novel coronavirus (COVID-19) breakout. Lower revenues will likely result in budget modifications, with funding allocated to those parts of the business deemed critical to meet current and near-term operations.
Among the issues companies will need to address is how to handle internal investigations. While some categories of investigations can clearly be delayed, others will require more immediate attention because they concern allegations of significant financial impropriety (e.g., large frauds), implicate the integrity of key officers or management, or are the subject of regulatory or law enforcement actions.
In addition to existing investigations and fraud risk factors, the COVID-19 outbreak may result in opportunities for fraudulent or corrupt behavior, including financial statement fraud, misappropriation of assets, and insider trading.
Adding to the complexity of the investigative process are social distancing requirements currently in place, making physical interactions challenging or impossible in the near term.
Accordingly, companies will need to consider how they can productively continue or initiate investigations in the current environment. Fortunately, technology-driven solutions are available to help perform data and information collection and analysis, as well as provide virtual connectivity for interviews and collaboration needs.
Download the report (a link on the right side of the page) and learn what options for the remote investigative process include.