Services

Which services does IAFAA offer?

International Association of Forensic Accountants and Auditors

Forensic Cost Controlling

The main purpose of the cost control service is to identify the potential to reduce operating costs, to improve the financial result, including cash flow and profit, but also to prepare the company for significant changes and continuous improvement.

Smanjenje troškova ne znači samo redukciju specifičnih troškova. Profit je mnogo manji i u opasnosti ako prodaja i kontrola troškova ne idu ruku pod ruku. Veliki obim prodaje ne znači obavezno i veliki profit. Velika i povećana prodaja često stvara privid blagostanja, dok su prikriveni troškovi iza te slike preveliki i izjedaju profit. Povećanje profita kroz smanjenje i rezanje troškova mora biti zasnovano na organizovanom, planiranom konceptu, jer rezanje troškova nije jednostavno smanjenje nekih ili svih troškova ne planski i ne metodički.

Forensic cost control is carried out by a specific methodology and covers all sectors of the company from production, through procurement, marketing, sales, human resources and administration.

Ako mislite da postoji manjak gotovine, da su troškovi vaše organizacije previsoki, da je poslovna dobit previše niska u odnosu na prihod od prodaje, vreme je da proverite svoje troškove. I to forenzičkom kontrolom!

Forensic Audit

Misstatements in financial statements are not always the result of ignorance, oversight or misapplication of international accounting standards, but also of criminal acts for own profit.

Fraud threatens the company's business in many different ways, not only because of the financial damage, but it significantly spoils the image of that company in the eyes of the public and lowers the morale of employees. Based on the conducted research, it has been proven that on average, organizations lose 7-10% of their annual profit due to fraud, and organizations manage to recover only a small percentage of these losses .

In order to prevent a further increase in this type of crime, the possibility of discovering the manner in which the fraud was committed, as well as the identification of the perpetrators, is extremely important. Forensic audit and modern digital forensic tools play a key role in detecting criminal acts committed by the so-called "White collar".

Forensic auditing of financial statements is a relatively new, highly specialized service that assumes the special engagement of persons who are specially trained and have experience in preventing and detecting criminal acts.

The main goal of forensic audit is to detect criminal activity in the financial statements of the suspect or controlled subject of analysis, and from the basic, the individual goals of forensic audit branch in the following:

• detection and naming of perpetrators of criminal acts,

• discovering the manner, place and time of its execution,

• determining material damage and the impact of criminal activity on the business of the organization,

• providing evidence for judicial or disciplinary proceedings.

If you have any doubts, concerns or reports that criminal activities are taking place in your organization, the IAFAA expert team can help you.

Financial Fraud Risk Management

Prevara i finansijska zloupotreba su neprijatna realnost na današnjem globalnom tržištu sa prosečnom organizacijom koja gubi oko 5 procenata svog godišnjeg prihoda zbog prevare. Kao rezultat toga, neophodno je upravljanje rizikom od prevare kako bi se zaštitili krajnji rezultat, integritet i reputacija svake organizacije .

Razumevanje ranjivosti svake organizacije i uspostavljanje odgovarajućeg okvira za identifikaciju i reagovanje na njih su od suštinskog značaja na današnjem globalnom tržištu, pošto regulatori zahtevaju aktivnije upravljanje i istragu za širok spektar rizika, uključujući finansijski kriminal, prevaru i korupciju.

Korporativni rukovodioci i direktori odgovorni su ne samo za dela prevare ili podmićivanja koja su sami počinili, već i za dela koja su možda bila pod njihovom kontrolom, ali nisu preduzeli jasne mere da spreče isti. U stvari, rizik od prevare postoji u svakoj organizaciji – samo u različitom stepenu.

Through fraud risk management and anti-fraud services you can:

Identify, assess, and mitigate key risks of fraud and misconduct
Identify and determine priority areas in business that are prone to fraud and take appropriate action
Establish adequate anti-fraud measures to effectively mitigate the risk of fraud and combat misconduct

The IAFAA expert team can provide support in the following ways:

Overall assessment of the risk of fraud and misconduct,
Review of internal controls of fraud, compliance, anti-fraud programs and corporate ethics,
Designing compliance programs and improving fraud risk management processes,
Assist management in designing and implementing fraud prevention frameworks, including corporate codes of ethics and conduct, fraud response policies, fraud prevention controls, communications, monitoring and prevention policies and standards,
Comprehensive and practical advice on all aspects of fraud risk management

The IAFAA expert team has knowledge and experience in the field of fraud risk faced by today's companies, so it can be helpful to identify business areas vulnerable to fraud and susceptible to misconduct, assess and prioritize fraud risk and suggest activities to reduce the risk of fraud.

Preparation for the implementation of the international standard ISO 37001: 2016

ISO 37001: 2016 prescribes requirements and provides guidelines for the establishment, implementation, maintenance, review and improvement of anti-bribery management systems. The requirements of ISO 37001: 2016 are applicable to all organizations (or parts of organizations) regardless of the type, size and nature of the activity, whether in the public, private or non-profit sector. In addition, it can be implemented as a standalone standard or be integrated with other management systems.

ISO 37001 serves as a precautionary framework for organizational integrity and helps combat the risks associated with bribing and fostering a decent business culture. It helps organizations prevent, recognize and respond to bribery and adhere to the law on the prevention of bribery and corruption.

Compliance with the ISO 37001: 2016 standard yields benefits for the organization, because:

It strengthens controls, reduces the risk of bribery and corruption.
It provides assurance to management, employees, owners, financiers, clients and other business associates that internationally recognized anti-corruption control practice has been established.
It demonstrates that the organization has taken reasonable steps and the necessary controls to prevent, detect and respond to bribery and corruption.
They gain a competitive advantage in the market, especially in tenders.
They comply with Art. 49 and Art. 50 of the Law on Public Procurement.
Advantage for entering international supply chains.
The organization gains a better image and reputation with all stakeholders.
Integrity of the organization is improved.

The IAFAA expert team can provide support in the following ways:

Training of the project team / implementation team for practical understanding of the ISO 37001: 2016 standard,
Review of documents and assessment of compliance of existing policies, processes, procedures,
GAP analysis for compliance with ISO 37001:2016,
Mapping and risk assessment of bribes and corruption of each risk process and / or department and / or business unit (identification of the most exposed positions, assessment of inherent / residual risks, risk assessment of specific transactions, related parties)
Support in the creation and / or improvement of operational documents of the anti-bribery management system,
Raising awareness and capacity of employees through the implementation of necessary training programs

Rely on the IAFAA expert team, save your time and prepare to receive the certificate as soon as possible.

External Assessment of Internal Audit

According to IIA Standard 1312-External Evaluation, the organization must conduct an external evaluation of the quality of internal audit work by a qualified external evaluator or a team of evaluators at least once every five years.

Whether your organization belongs to the business, public or banking sector, it is essential to adhere to this internal audit standard.

The IAFAA expert team can provide support in the following ways: assessment of compliance with international standards for conducting internal audit , in particular:

Purpose, authority and responsibilities of the internal audit service
Independence, objectivity and expertise
Managing the activities of the internal auditor
Planning and performing engagements
Communication with shareholders/owners
Progress monitoring methods

The IAFAA expert team consists of experts for the external assessment of the quality of internal audit work from the region and can facilitate your fulfillment of legal obligations in the public and financial sector.