Frank Nute CPA, LLC focuses on the prevention, investigation and detection of occupational fraud. Occupational fraud is defined as using ones occupation for personal enrichment through deliberate misuse or misapplication of the employing organizations resources. It is estimated the typical organization loses 5% of its annual revenue to fraud. In a study conducted by the Association of Certified Fraud Examiners between January 2008 and December 2009, the median loss caused by occupational fraud cases was $160,000. Also, dealing with fraud investigations can result in business resources being redirected, preventing them from achieving their full potential.
I help clients understand where the risks for occupational fraud lie within their organization and I help them mitigate the risk of occupational fraud from occurring. In those cases where the fraud has already occurred, I help clients understand what happened, how it happened, who was involved, the duration of the fraudulent act and I provide evidence and documentation to support my findings in written reports.
Many frauds go undetected for long periods of time, on average 18 months. A small business impacted by a major fraud may never recover. Many businesses still do not have formal systems and procedures in place to prevent, detect and respond to fraud. While no system is completely foolproof, there are steps which can be taken to deter fraud and make it much less attractive to commit. I provide the knowledge and expertise to help business owners better manage fraud risks. My training, experience and analytical and technical skills enable me to investigate alleged occurrences of occupational fraud in small business. I have been a Certified Fraud Examiner for over 20 years and I have investigated a number of alleged fraud occurrences.
