INTRODUCTION
SAB&T Forensic Services is the forensic division of SAB&T South Africa’s largest BEE firm of chartered accountants and management consultants. The company has eight national and two international offices, and is a member firm of SC International, the worldwide association of professional firms providing accounting, business consultancy and tax advisory services.
SAB&T Forensic Services take a revolutionary approach to white-collar crime, expanding the scope of forensic accounting to include investigations into theft, fraud, corruption, money-laundering and risk.
From the collection and evaluation of evidence to preparing dockets for local law enforcement agencies, from providing expert witness evidence in court to following the traces of fraud through cyber-space, SAB&T Forensic Services offer a multi-disciplinary service that can be tailor-made to suit individual clients’ needs.
The highly experienced team includes chartered accountants, ex-SAPS investigating officers, attorneys and IT specialists. In addition, the team has access to a unique range of resources both nationally and internationally. Their combined experience includes investigative work at the highest levels of public and private enterprise, and their clients represent some of South Africa’s biggest companies as well as government departments. All this is supported by comprehensive education, training and awareness programmes.
SAB&T Forensic Services take a pro-active, thorough and holistic approach to the business of forensic investigation. When it comes to disclosure, nobody does it better.
OUR SERVICES
SAB&T Forensic Services deliver the following services:
1. Forensic Accounting and Investigations
2. Fraud Risk Management
3. Accounting Litigation Support and
4. Forensic Computer Technology Solutions.
Set out below is a brief description of our service offerings.
FORENSIC ACCOUNTING AND INVESTIGATIONS
Forensic accounting and investigative assignments involve probing financial and accounting issues, often in a legal or regulatory context. Each investigation is different and requires specialist skills for a speedy and reliable outcome. We tailor-make our assignments to suit individual needs and circumstances.
Our Forensic Accounting and Investigation services include:
Fraud, corruption and financial investigations
We get to the root of discrepancies, allegations and other irregularities by assembling and securing evidence. Based on our wide experience of investigating financial fraud, we produce comprehensive reports addressing all areas of concern in accordance with an agreed mandate. These investigations often require using our in-depth industry knowledge and investigative experience.
We also review internal controls breakdowns as part of our comprehensive Fraud Risk Management.
We independently report our findings and recommend appropriate remedies (civil or disciplinary) to clients, keeping management issues in mind (eg. employee morale).
Asset tracing and recovery
Our asset tracing and recovery service is designed to establish what assets have gone missing, where they have gone, how to get them back and what urgent steps need to be taken to optimize the recovery process.
Integrity, probity, background checking and other investigations.
Our extensive experience enables us to assist with various investigations that the modern corporation might need to minimise risks or protect its reputation. Examples include screening of new employees, background checks on suppliers, and non-financial due diligence investigations or reputation checks on prospective business partners. We also conduct internal investigations into the conduct of company officials, presenting our findings at enquiry proceedings into the affairs of insolvent estates.
Anti-money laundering services
We offer a comprehensive and contemporary anti-money laundering service. In modern business, money laundering poses a serious threat to the credibility of unsuspecting third parties that suddenly find themselves embroiled in the proceeds of unlawful activities. We are pro-active in our approach, and we also conduct post-event investigations.
FRAUD RISK MANAGEMENT
This pre-emptive service is designed for organisations that want to manage their risks before problems occur. To this end, we assist with the development and implementation of unique Fraud Prevention Plans.
The benefits of implementing such plans are not only financial but also reduce demand on management time and improve corporate image and morale. Increasing international awareness of the need for good corporate governance and effective in-house fraud management has resulted in a huge increase in the demand for our Risk Management services
Vuvuzela Hotline (Pty) Ltd
We believe that an essential part of the development and implementation of any fraud prevention plan is the incorporation of a fraud hotline.
The Vuvuzela Hotline (Pty) Ltd is a 100% BEE firm that provides various channels of communication for communities, through organisations and businesses, to voice their concerns about crime, unethical or corrupt behaviour. The safe, secure and anonymous Vuvuzela Hotline prevents the intimidation and victimization of those who disclose information.
ACCOUNTING LITIGATION SUPPORT
We provide support to our clients involved in major disputes requiring financial analysis, quantification of claims and expert witness services. Litigation support can include investigating allegations, assembling evidence, interpreting events and analysing transactions in order to form an opinion as to the origins of a dispute.
Disputes can be resolved in many different ways and through a variety of different forums.
Our professionals often act as expert witnesses, adding considerable credibility which is attributable to our reputation and track record.
Our litigation support services include:
Dispute resolution
We assist parties involved in contractual and other disputes, usually involving breach of contract, damages or loss of profits. We provide independent, expert investigative skills and testimony as well as business, economic and financial advice, throughout the dispute resolution process. In addition, we have extensive experience in alternative dispute resolution including arbitration and mediation.
Insurance claim services
We provide assistance in the investigation, negotiation and settlement of complex insurance claims.
Valuations
We are able to provide assistance in conducting a variety of valuations including:
• Business valuations
• Share valuations
• Minority interest valuations
• Estate valuations
Licensing management services
We can investigate whether licensees or business partners are complying with the terms of the applicable agreements and royalty reporting procedures. Should any non-compliance be found by us, we will quantify any losses that might have been incurred.
FORENSIC COMPUTER TECHNOLOGY SOLUTIONS
We have access to a forensic computer laboratory dedicated to electronic evidence recovery and computer-related investigations.
Modern business activity, in line with the growth of e-commerce, has seen the migration of traditional theft and fraud from paper to the electronic realm, and the arrival of the cyber criminal. This evolving threat is becoming increasingly complex.
In responding to this cyber challenge, we employ a wide range of proactive and reactive IT-based investigation services through our experienced team of investigators and state-of-the-art technology.
We have various toolsets available to us which we use when appropriate.
OUR EXPERIENCE
SAB&T Forensic Services have wide-ranging experience in providing forensic services and litigation support.
Our assignments have included the following examples*:
(*Confidentiality requirements and undertakings in respect of forensic and other investigations prohibit us from providing exact detail on individual matters.)
FORENSIC ACCOUNTING AND INVESTIGATIONS
Payment fraud/ EFT funds transfer
• Investigation into cash theft by a payroll office at a heritage site.
• Investigation of electronic funds transfers fraud which involved the manipulation of supplier bank account details at a senior government department.
Procurement fraud
• Due diligence reviews into the BEE status of suppliers listed on a parastatal supplier database.
Identity fraud
• Investigating irregular transactions and fund transfers relating to bank accounts held in the name of a fictitious entity at a major bank.
• Performing a forensic audit on an employee’s qualification as disclosed in their applications for employment.
Litigation Support
• Investigation and expert evidence in respect of allegations of irregularities regarding funds received by a company director.
• Expert evidence in respect of a number of divorce matters.
• Investigation in respect of VAT dispute between a client and his supplier.
• Expert evidence in matters pertaining to the contravention of the Marine Living Resources Act.
Fraud Prevention Consulting
• Providing various organisations with a customized Code of Conduct and advice regarding their disciplinary procedure manual.
• Development and implementation of comprehensive Fraud Prevention Plans for numerous clients in the public sector.
Forensic Computer Technology Solutions
• Investigation of alleged fraudulent electronic funds transfer transactions and irregular relationships.
OTHER EXPERIENCE
• Identifying and investigating acts of fraud and theft which resulted in the self-enrichment of employees, determining the material potential and actual monetary losses suffered by various entities/organisations.
• Probity investigations in respect of sellers of duty credit certificates at a major textiles retailer.
• Assisting the SAPS with an investigation implicating a senior staff member in fraud and corruption.
• Review and re-calculation (various scenarios taking into account applicable legislation) of Customs Duty and VAT liabilities for a wholesale importer. |
