We have access to a network of specialist auditors that we can call upon in support of client's objectives. Petroserve can carry out forensic investigations as part of one of our other audit services or as a specialized stand alone investigation. Our combination of years of expertise in the upstream Oil & Gas business coupled with our specialist Investigators ensures that we adopt the right approach and focus in tackling and identifying fraud and corruption.
Our investigations include:
||Review of current internal controls and company procedures and policies and perform risk assessment.
||Develop anti corruption and fraud procedures and policies.
||Strengthen Internal Controls
||Forensic investigation of:Financial recordsAwarding of ContractsEmployee behaviours and business relationships.
||Identify improper and unethical practices.
Prices being charged significantly above the market price.
Fictitious entities set up by employees and invoices submitted for services not performed.
Payment for services that were not required or never performed.
Theft of Company property.
Improper use of Company assets.
Kickbacks and improper gifts and gratuities by Vendors to employees.
Bribery and Corruption.
The Association of Certified Fraud Examiners (ACFE) in the U.S. estimates that 5% of a Company's income will be lost as a result of occupational fraud. Accurate statistics are not available for other countries but it could be higher in parts of Europe, Africa and the Middle East. Therefore it is very beneficial for a Company to invest in fraud prevention.