Forensic Advisory: An Introduction

Fraud, theft, and other forms of wrongdoing present a major challenge for businesses in the information age. Whereas in earlier times, paper trails and physical evidence could often be relied upon to catch corporate criminals, the digital nature of both assets and spreadsheets allow would-be fraudsters to engage in more sophisticated levels of obfuscation.
However, the same set of new technologies enables improved guardrails against such damaging activity. It is the responsibility of modern organisations to actively prevent fraud and theft from occurring within their ranks — either directly through internal procedures, or with the help of external specialists, or both.

Don’t make yourself an easy target 
In business as in life, unguarded assets are soon separated from their owners. We explored the statistics behind this uncomfortable truth in a previous article, where we noted among other things that organisations worldwide lose an estimated 5% of their total revenue to fraud. Such losses, especially when compounded over the years, can drastically alter the prospects and growth trajectories of companies with thin profit margins.

Fraud can be prevented before it occurs, or identified and examined after it occurs. The former is clearly preferable, but both initiatives are necessary for a strong anti-fraud effort. If all energy is directed towards prevention, for example, and none toward forensics and prosecution, then would-be fraudsters will not be deterred from making the attempt since they will have no fear of getting tracked down after the fact.

What is needed, then, is a holistic approach to fraud minimisation. These efforts must be made highly visible to those within the organisation, discouraging anyone even considering fraud by showcasing strong safeguards, continuous monitoring, and clear reporting mechanisms.

A responsive immune system for your organisation
At Grant Thornton in Thailand, our dedicated Forensic Advisory team helps businesses prevent fraud before it happens while also providing swift, discreet investigations when issues arise.

Our proactive risk management solutions include:

• Fraud risk assessments – Identifying vulnerabilities before they become costly problems. These risks can arise in various areas, including Procure-to-Pay (P2P), where conflicts of interest, favouritism, and kickbacks are common vulnerabilities. In Order-to-Cash (O2C), instances of fake billing to meet KPIs are not uncommon. Even in supply chain operations, risks such as leakage and pilferage can pose significant challenges.
• ABAC (Anti-Bribery and Anti-Corruption) compliance reviews – Ensuring adherence to FCPA, UKBA, and local regulations. Every economy addresses corruption in a way that seems most appropriate for them. In Thailand, initiatives such as Thai Collective Action Against Corruption, commonly known as Thai CAC, play a key role in tackling the issue, an area in which the Grant Thornton team has extensive experience.
• Programme remediation – Strengthening compliance frameworks to assess the organisation's readiness to handle any unforeseen incidents of fraud.
• Right of audit reviews – Conducting forensic audits of third-party contracts to assess potential relief for the client in cases of losses caused by third-party actions.
• Regulatory and sector-specific updates – Keeping businesses informed on ever-evolving risks such as bribery, corruption, and antitrust.
• Whistleblowing hotline services & case management – Whistleblowers play a crucial role in proactively detecting fraud. We have the expertise and experience to manage end-to-end whistleblowing hotline services, customising channels and reporting to meet the client’s needs.
• Cybersecurity – Cyber risk assessments, incident response, and recovery planning.
• Staff training – Beyond technology, staff awareness is crucial. We provide specialised training on fraud detection, whistleblower protection, and compliance, ensuring employees can recognise and report suspicious activity.
  When fraud, corruption, or disputes arise, businesses need immediate action to contain financial and reputational risks. 

Our reactive forensic services include:

• Investigations of fraud, asset misappropriation, and financial crime
• Expert witness testimony & legal dispute resolution
• Forensic audits and loss quantification for insurance or litigation purposes

Technology also plays a critical role in both fraud prevention and forensic investigations. To support our clients, we leverage:

• Digital forensics – Preserving and reviewing electronic data
• Forensic data analytics – Detecting anomalies in large financial datasets
• Corporate intelligence – Background checks and relationship mapping
• Cybersecurity – In the event of ransomware or other cyberattacks, our experienced team supports the client by investigating and isolating the affected network or servers to protect the organisation as a whole 

Fraudsters exploit weak governance, poor controls, and corporate blind spots. Whether the risk is bribery, financial misconduct, regulatory non-compliance, or cybercrime, we help businesses strengthen defences, uncover wrongdoing, and stay ahead of emerging threats.

This is the first article in our Forensic Advisory series. Stay tuned for upcoming insights on risk management, corporate compliance, and fraud prevention.

Contact us today to protect your organisation.