Many of the firm’s suite of services offered can be provided in either in a consulting or expert witness capacity. Below are additional consulting services provided, which can help an organization improve their net income. Pamela Wickes, based on her experience performing valuations for over 10 years and her Accreditation in Business Valuation, reviews and critiques business valuations on a consulting basis as well.
Internal Control Consulting
As a Certified Fraud Examiner and a Certified Public Accountant, Pamela Wickes is well equipped to obtain an understanding of an organization’s internal control structure, identify design deficiencies, and provide recommendations to help management protect its income and assets. The Association of Certified Fraud Examiners continues to report that the typical organization loses 5% of revenues in a given year as a result of fraud. Pam can help organizations establish adequate controls as a preventative measure. In addition, tests of the internal controls can be performed to determine if they are in operation and effectively functioning.
Fraud Prevention & Detection Training
Pamela Wickes has presented to many business and professional associations over the years, providing facts and statistics about occupational fraud and tips to prevent and detect employee fraud. Studies have shown that tips from employees regarding their peers are the most common way fraud in the workplace is detected. Pam regularly finds during fraud investigations that other employees recall red flags of fraudulent activity but they did not recognize them as such at the time. The longer a fraud lasts, the greater the financial damage. She can perform training at organizations to help employees detect fraud schemes quicker to reduce associated losses.
Operational evaluations are requested for a variety of reasons, including cost/benefit and profitability analyses. Sometimes organizations have lines of business, departments or programs for which income and expenses are not separately accounted for. As a result, when a need arises to evaluate the cost/benefit or profitability of such activities, the organization cannot easily extract the necessary financial data. Pamela Wickes tailors these types of analyses to meet the needs of the situation at hand. For example, sometimes the focus is more on gaining an understanding of the overall operation and decision making processes. Pam provides the organization feedback and recommendations identified during the engagement.