Fraud, Concealment & Misrepresentation

Fraud can cause financial ruin for any company, destroying even the strongest business.  Matson, Driscoll & Damico has helped resolve some of the largest, most devastating and high-profile global fraud and arson cases.

When a business owner, manager or employee is accused of falsely reporting transactions, overstating the value of an asset or destroying business assets for insurance money, MD&D’s forensic accounting experts can determine how the fraud occurred and how to best determine damage amounts. 

Our professionals examine all business records, including:

• Transaction reports
• Balance sheets
• Income statements
• Cash flow statements
• Retained earnings statements
• Pricing and costing records
• Adjusting journal entries

MD&D’s process identifies unusual trends in the business by comparing the affected company’s current and historical financial statements to similar documents in comparable companies. A comprehensive review of the company’s financial records and board meeting minutes is also completed.   

The team will often prepare vertical and horizontal analyses for each financial period based upon common units, such as percentages of sales or units of production. These analyses will identify swings in expenses or costs disproportionate to similar businesses, and will determine if financial account balances are moving in an unexpected direction. 

The forensic accountants at MD&D can also remain on-site to work with the company’s accountants, computer analysts and other staff during the analysis and reconstruction process. This hands-on approach can help the business return to its normal operations quickly and with an accurate starting point for future financial reporting.

Our forensic accountants can also work with the insured and other professionals involved to establish new and improved procedures to reduce the risk for future fraud occurrences.