Vietnam’s Forensic Accounting Fights Financial Crimes
Fraudulent activities have become a significant concern for businesses operating in Vietnam, regardless of their industry, size, or ownership structure. Common examples of fraudulent and/or malpractice issues include:
- Kickbacks
- Conflicts of interest related to procurement and contracts
- Related party transactions
- Expense claim fraud
- Loss of materials, cash, and assets
- Non-adherence to contractual requirements
These fraudulent activities not only increase the cost of doing business but also demoralize the workforce and require management’s attention to handle fraud allegations, financial crimes, and other irregularities instead of focusing on running the business.
PwC Forensics: A Solution for Fraud Prevention and Detection
PwC Forensics has a team of 20 full-time forensic accountants and technical specialists located in Vietnam, Malaysia, and Thailand, as well as over 800 full-time specialists globally. Our experts are committed to providing clients with comprehensive solutions for fraud prevention, detection, investigation, and remediation.
Services Offered by PwC Forensics
- Fraud prevention and detection mechanisms
- Whistle-blowing policies and mechanisms
- Practical frameworks for managing related party transactions and conflicts of interest
- Analysis and diagnosis of fraud issues within a company
- Review of internal control breakdowns to provide a clear picture of the problems
In addition, our forensic specialists can:
- Forensically image, secure, and analyze electronic data from various computer systems
- Conduct FCPA or other anti-bribery reviews
- Assist businesses in understanding local regulations, legal systems, business practices, and cultural nuances
Dispute Analysis and Litigation Support
Our experts can:
- Conduct an initial assessment of the financial, economic, and business merits of a potential claim or defense
- Assist with the discovery process
- Prepare and evaluate claims for loss of profits and other damages
- Provide information to assist with settlement negotiations
- Prepare expert reports for use in disputes
- Appear as expert witnesses
Benefits of Forensic Accounting Services
By reviewing and designing fraud prevention policies and procedures, PwC Forensics can help businesses:
- Reduce the risk of fraud
- Improve process controls and monitoring
- Comply with prevailing laws and regulations
- Detect errors or fraud early
- Embed an anti-fraud mindset into the organization
- Implement better fraud management practices
- Comply with regulatory requirements
- Reduce fraudulent practices in businesses
- Reduce costs associated with fraud