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Overview

Fraud is prevalent in the world today and every industry is affected. It is critical that organizations establish an anti-fraud culture that emphasizes fraud prevention and detection through executive leadership, policy, training, understanding of fraud risks and monitoring/auditing for fraud. This anti-fraud culture must be embraced by the organization’s management and board; in fact, a senior member of management with access to the board should be responsible for processes to promote ethical behavior, deter wrongdoing and ensure proper communication.

Brown Smith Wallace fraud prevention and detection solutions focus on stopping fraud before it occurs and detecting fraud in its early stages. The longer an incident of fraud goes undetected, the more money the victim organization loses. According to the Association of Fraud Examiners, proactive measures—surveillance/monitoring, IT controls, account reconciliation, internal audit and management review, for example—catch fraud sooner and minimize losses. Frauds that are caught by reactive measures—a tip, confession, document examination, by accident, external audit or notification by law enforcement—last longer and cause more harm.

Our team, which includes Certified Fraud Examiners (CFE) and Certified Forensic Accountants (Cr.FA), can help your organization develop proactive fraud prevention solutions, including:

  • Anti-Corruption Programs – A proven methodology designed to provide a logical approach to ensure appropriate controls are in place to prevent, detect and respond to corruption activity.
  • Audits & Internal Control Assessments – It is essential that duties are segregated and that controls are in place within your processes so that opportunities to commit fraud are limited.
  • Code of Conduct/Anti-Fraud Policy  A key to effective fraud prevention is a code of conduct and/or anti-fraud policy that lays out clear guidance as to permitted/prohibited behavior and actions.
  • Ethics Hotline/Training – Providing individuals a means to report suspicious activity and conducting targeted fraud awareness training for employees and managers.
  • Fraud Data Monitoring – An approach used by leading companies to highlight exceptions and anomalies to help prevent or detect fraudulent activity through the continuous or periodic analysis of data.
  • Fraud Prevention Check-up – Fraud prevention check-ups can be a quick and cost-effective way for you to evaluate whether your company is properly addressing fraud prevention.
  • Fraud Risk Assessment – Taking a proactive approach to understanding and systematically identifying where and how fraud may occur and who may be in a position to commit fraud.
  • Policy and Procedure Assistance – Policies and procedures are an important way to ensure an organization has the right practices in place to prevent fraud. Management must clearly communicate such practices to employees.

To schedule a fraud risk assessment or discuss your fraud prevention and detection strategy, contact Ron Steinkamp. Click here to take our fraud prevention self-assessment.

Experience

Testimonials

  • Ron Steinkamp and others from Brown Smith Wallace have partnered with the Association of Government Accountants (AGA) – Ozarks Chapter to provide webinars to our members. The webinars have been very well-received by our members. The insights that Brown Smith Wallace brings in the areas of government auditing, internal control, data analysis and fraud have helped to educate our members about the importance of internal controls and data analysis in government as well as fraud prevention and detection.

    Association of Government Accountants (AGA) – Ozarks Chapter

    Renee Vines, Education Chair

  • Brown Smith Wallace performed a fraud risk assessment for the City of St. Charles Parks and Recreation Department to identify potential occupational fraud risks within the financial and accounting processes, evaluate existing internal controls, and recommend the implementation of controls and processes designed to properly address those risks. As a result of that risk assessment, the firm identified opportunities to improve our internal controls and recommended ways to better prevent fraud in the future.

    City of St. Charles Parks & Recreation Department

    Maralee Britton, Director of Parks and Recreation

  • On behalf of the IIA Memphis chapter, I wanted to extend my sincerest thanks and appreciation for your exceptional two-hour webinar training on Fraud Prevention & Detection. We truly enjoyed how Ron Steinkamp shared stories of his experiences to illustrate how the fraud detection process works. The training topic and style of delivery was very well received by our chapter members. The time flew by and the chapter members I spoke with later in the day indicated they had many takeaways from the training that could help them improve their fraud audits. Thank you for being the first webinar speaker in the history of IIA Memphis!

    IIA Memphis 

    Valerie Annang, Chapter President

  • Ron Steinkamp is a frequent speaker at Missouri Municipal League conferences, trainings and webinars. His presentations have always been well-received by our audiences. His insights into fraud prevention and awareness have alerted our municipal officials to the vital importance of internal controls and financial oversight. The Missouri Municipal League recognizes Ron's expertise in forensic auditing.

    Missouri Municipal League

    Stuart Haynes, Policy and Membership Associate

  • Over the years, Brown Smith Wallace experts have shared their expertise with our members as presenters at our continuing education conferences. They consistently receive high ratings and positive feedback. In addition, they are collaborative, flexible and easy to work with. Their insights have enhanced the value of our sessions and have resulted in repeat attendees to our events.

    Missouri Society of CPAs

    Dan Koontz, Director of Professional Development

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