The intersection of law, business, accounting, and technology
With regulatory enforcement on the rise, a strong anti-fraud and compliance program can reduce financial and reputational risk, improve accountability, and deliver a competitive advantage. But even with a robust compliance program, fraud may still occur.
BDO’s Forensic Accounting & Regulatory Compliance practice helps organizations enhance their risk management strategy through remediation or design, implementation, testing and monitoring of compliance programs.
When fraud arises or is suspected, our forensic accounting team possesses the analytical, investigative and technical skills to quickly understand, document, and quantify wrongdoing and design and implement the appropriate remediation strategy. In addition to certified public accountants, certified fraud examiners and forensic accountants, our multidisciplinary team includes forensic technologists, data analysts,and former members of law enforcement and regulators.
Whether your organization is responding to a regulatory inquiry, a whistle-blower report, or performing due diligence on a company or individual, we help you navigate high-stakes matters, offering support, scale and speed to resolution.
Corporate Compliance Monitorships: The Need for Data AnalyticsNovember 23, 2022
Updated DOJ guidance on regulations such as the Foreign Corrupt Practices Act is creating more emphasis on companies’ need to incorporate data analytics as part of their internal controls for compliance programs.
How BDO Can Help
Our investigative services team preserves and collects relevant data and information, forensically reviews books and records, performs discrete corporate intelligence, conducts data analytics, performs information gathering interviews on matters, such as:
- Crimes against the company, including asset misappropriation, embezzlements and self-dealing by employees and/or third parties to the detriment of the organization
- Financial reporting fraud, including financial statement irregularities and inadequate disclosures
- Corruption, such as bribery, embezzlement, insider trading, extortion, kickbacks and other abuses of entrusted power
By mobilizing quickly in a targeted manner, our global team helps organiations and individuals trace misappropriated assets, including digital assets and mitigate the impact of financial and economic crime.
We are present in every critical “offshore haven” working as a seamless team across offices in more than 160 countries.
We help organizations:
- Identify the flow of funds, unscrambling layering techniques often implemented by fraudsters
- Navigate data privacy, data protection and anti-money laundering regulations
- Gather evidence through intensive corporate intelligence procedures, forensic books and records review, unexplained wealth assessments and interviews
- Leverage knowledge, experience and insights of BDO insolvency professionals in key jurisdictions
- Present evidence to triers of fact, trustees, liquidators and law enforcement in support of freezing orders, discovery, injunctions and seizure orders
For organizations operating in high-risk industries, the ability to understand and mitigate potential issues and threats can minimize risk and drive better decision-making.
We assist with:
- Business Integrity Support: Objective fact-finding, helping organizations identify critical information including the mapping of often complex and indirect relationships of both companies and individuals and identifying and understanding backgrounds of parties of interest
- Investigations: Critical research, analytics and ongoing monitoring of intel on key parties
- Pre-IPO: Insight for pre-IPO companies and advisors who must quickly and efficiently identify issues that may pose reputational or regulatory risks
- Investment Migration: Background investigations on behalf of government Residence and Citizenship By Investment (RCBI) programs worldwide
- Investments and M&A: Support deal teams by gathering background information \about the track record and reputation of parties involved in a prospective business transaction
- Social Media: Conduct social media research that can provide key data points or red flags on a target’s reputation and activities
We help organizations:
- Comply with all relevant and applicable AML regulations, and rulings including:
- Bank Secrecy Act (BSA)
- Office of Foreign Asset Control (OFAC)
- New York Department of Financial Services (NYDFS)
- Financial Crimes Enforcement Network (FinCEN)
- Identify or help prevent money laundering and sanctions violations
- Conduct AML look-back investigations
- Implement robust AML compliance programs
We assess regulatory risk, design, implement and strengthen compliance programs, provide training, test internal controls, and monitor compliance.
Our expertise includes:
- FCPA, UK Bribery Act, and other anti-corruption regulations
- International Traffic in Arms Regulation (ITAR)
- Export Administration Regulations (EAR) governing export controls on U.S. products
- Data privacy and data governance
- False Claims Act
A robust and efficiently conducted monitorship can help organizations comply with laws, regulations, consent judgments and/or settlement agreements to remediate prior non-compliant corporate behavior.
In the event of a corporate monitorship, either voluntary or imposed, we assistorganizations prepare internally for the monitor’s review or provide support to the monitor bringing:
- A deep understanding of the regulatory environment that applies to U.S. and global organizations
- Access to former regulators
- Strong investigative, forensic accounting and analytical skills
- Objectivity and independence
- Credibility and experience working with the U.S. Department of Justice (DOJ), the U.S. Securities Exchange Commission (SEC), Federal Reserve, Consumer Financial Protection Bureau (CFPB), Bureau of Industry and Security (BIS) and other regulators
Forensics & Investigations Insights
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