Fraud investigations are in most cases a serious undertaking. At the end of the rigorous investigation process fraud investigation reports are produced. Therefore this report is the output of the whole investigation process. A fraud investigation report documents the entire fraud investigation process paying a lot of attention to how the investigation was conducted.
Fraud Investigation Report
A qualified professional should write the report as it is an official document that is expected to stand up for itself. This means that the fraud investigation report is supposed to comprehensively and sufficiently cover the activities and findings of the investigations. All this will be expressed by the report without necessitating the presence of the investigators who compiled the report. The report will communicate the whole investigation to interested third parties.
Identifying In Report
A fraud report must identify the person who sanctioned the investigations. Here the report must also identify the team that was chosen to conduct the investigation and name the person who chose the team members. This part of the report is used to show the stakeholders in the investigation. The people named here are accountable for the investigations and equally the report. As the report may be used in court proceedings the people named here may be called upon to give testimony and hence it is important to name them. Secondly a fraud report must identify the reason why the investigation was called. Since an investigation can only be necessitated by reports of fraud being perpetuated, the fraud report produced at the end of the investigation must clearly indicate what events prompted the investigation. This will enable anyone reading the report appreciate the need for the investigation in the first place.
Techniques In Report
Thirdly a fraud investigation report should list the techniques that were used to conduct the investigations. The report must document methods used to gather evidence on the purported fraud. These methods include interviewing personnel, computer analysis; accounting forensics etc. this part of the report should show that the best methods were used to collect evidence on the purported fraud. The reader of the report should be convinced that the methods used were sufficient in investigating the fraud and nothing was over looked. The report is supposed to demonstrate that all avenues were explored when investigating the purported fraud.
The fraud report must in detail document the findings of the investigation. Here the report should describe the methods used to gather evidence in detail. It should then detail the significance of the evidence unearthed by the investigations and therefore the findings of the entire investigation. This part of the report is important in providing specific details of what exactly was inspected during the fraud investigation. It then highlights what was discovered as a result of the execution of the methods used.
Finally the report will document any recommendations made as a result of the investigation’s findings. For instance the report may recommend creation of better internal controls to prevent fraud in the future. The above description of a fraud investigation report exhibits the importance of hiring professionals to conduct fraud investigations and produce a fraud investigation report as the end product. UK private investigators are qualified in conducting high quality fraud investigations and producing an report that speaks for itself.