• Identify 2 professional organizations that the incoming forensic team should consider for membership. Include rationale.
• Remedies available for civil and criminal justice systems.
• Identify and explain the approaches used by investigators to obtain documents.
• Define and give examples of demonstrative evidence.
• Explain the factors that affect the decision to prosecute an entity or individual.
• Identify and explain with examples off-book fraud, skimming, cash larceny, asset misappropriation, and inventory shrinkage.
• Specify preventions that could be put in place for each type of fraud.

Professional Organizations for Membership:

Association of Certified Fraud Examiners (ACFE): Offers resources, training, and a network of professionals focused on fraud prevention and detection.

American Institute of Certified Public Accountants (AICPA): Provides guidance on forensic accounting and auditing, enhancing skills for investigative work.

Remedies in Civil and Criminal Justice Systems:

Civil System: Remedies include restitution, compensatory damages, and injunctive relief, which aim to restore the victim to the pre-fraud position.

Criminal System: Remedies include fines, probation, and incarceration, with the goal of punishing offenders and deterring future fraud.

Approaches for Obtaining Documents:

Document Requests: Requesting relevant documents from the entity or individual under investigation.

Subpoenas: Legally compelling third parties to provide documents.

Search Warrants: Obtaining court orders to search premises and seize documents.

Demonstrative Evidence:

Demonstrative evidence helps illustrate and clarify complex concepts in court. Examples include charts, graphs, videos, and simulations.

Factors Affecting Prosecution Decision:

Sufficiency of Evidence: The strength of the evidence collected.

Public Interest: The potential impact on the community.

Resource Allocation: The cost and effort required for prosecution

Types of Fraud and Prevention:

Off-Book Fraud: Concealing transactions from records. Prevention: Implement strong internal controls and regular audits.

Skimming: Diverting cash before it's recorded. Prevention: Segregate duties and monitor cash handling.

Cash Larceny: Stealing cash after it's recorded. Prevention: Enhance security measures and employee oversight.

Asset Misappropriation: Misusing company assets. Prevention: Strict access controls and inventory management.

Inventory Shrinkage: Loss of inventory due to theft or errors. Prevention: Implement inventory tracking systems and conduct regular reconciliations.

Question:

I need an introduction on this