Though our research noted some regional differences in the methods used to commit fraud — as well as organizational approaches to preventing and detecting it — many trends and characteristics are similar regardless of where the fraud occurred. Providing individuals a means to report suspicious activity is a critical part of an anti-fraud program.
Apr 25, at 8: Creating a team approach that leverages the skills of everyone — whether partner or associate, litigation support professional, paralegal, technologist, or project manager — is the most cost-effective approach to dealing with the discovery of ESI.
There seems to be an invisible wall between lawyers and staff members — whether the staff member is the Chief Marketing Officer or the Project Manager in Litigation Support — and the two are practically separate castes.
That invisible wall is preventing you from doing the best job you can do for your client.
As lawyers, your job is to think. To plan and to execute on the plan. Every lawyer struggles mightily with being able to stay focused on the key facts and issues and not be distracted by noise in a case.
And that noise is most often all of the information we receive in discovery. How many times have you thought this: If someone could just filter through the noise and get me The Good Stuff — the documents that I need for the case — and I could forget about the noise, my job as a strategist would be so much easier?
If that was the case, you could spend the time on the facts, talk to experts, strategize, etc.
Litigation support professionals know technology. Discuss what you need to prove and brainstorm about where to find it. When your entire team is on the same page about what the case is about and what you are looking for, they can each leverage their skills with strategy or technology to get to The Good Stuff.
I still see litigation support departments using detailed checklists to identify sources of ESI at a client without knowing which of those sources may actually be important in the litigation.
Use the same checklist, but make it a more targeted conversation that you can then strategize with at the same time. In my experience, the majority of the decisions that allow for cost control and targeted discovery are made during the custodian interviews and looking at data samples.
Mobile devices are a great example of why this approach is key. When you interview that custodian and ask about their mobile device, you can make a determination whether the data on the device is 1 relevant, 2 reasonably accessible from another source, and 3 necessary for preservation and collection.
Talk to the custodians and find out how they use them and what they know about how the key witnesses on the other side use their devices — they know, but you have to ask. All of those things inform your strategy on what to ask for, and your lit support team who will go and get the data need to understand the thought process.
The team approach also allows you to collect from just the sources you need using the specific date ranges that matter for a case. Not sure what that date range should be? Let the associate or the litigation support folks work with the client to review samples of data to narrow the window.
All too often, I see an extra year to five years of data being requested by firms that has no real value to a matter and is never touched, yet hundreds of thousands of dollars go into handling the data.
A few hours spent reviewing the data outside the range helps you focus. Another noise elimination step. Address it head on and tell the client that at the outset of the case here is the approach and why you will see meetings for several people at once.
The ROI will be Of course, if you are one of the many firms working hard to engage in flat fees or reduced rates for your clients, the team approach will be vital. So, drop the wall. Most lawyers have a great team behind them. The best lawyers use their teams effectively.View Notes - CH 1 FRAUD EXAM QUIZ from ACCT FRAUD at West Virginia University, WVU Tech.
CH 1 FRAUD EXAM QUIZ Question 1 1 out of 1 points What is the most cost-effective way to minimize the cost of%(6).
the learning level, we approach a different method to make the students realize the significance of identifying and managing risks in practice.
Risk management is “a scientific approach to the problem of pure risk, which results to. An effective risk management framework therefore includes appropriate consideration of fraud risk, which is a subset of operational risk.1 internally and externally, its approach to managing fraud risk.
This may include, for example, relevant policies by reference, such. Sep 30, · This dedicated team will help provide guidance on each subsequent project for culling techniques, familiarity with your company acronyms, privilege terms, in-house and outside counsel names and the ability to track metrics will, working together, provide the most cost-effective review project.
In Managing Fraud Risk: A Practical Guide for Directors andManagers Steve Giles lays out the modern, strategic approach tothe problem. He explains corporate fraud theory (what it is, whocommits it and why) and examines the results primarily from thebusiness perspective of identifying the most cost-effective methodsavailable to manage the urbanagricultureinitiative.com: Steve Giles.
The cost of trying to prevent fraud is less expensive to a business than the cost of the fraud that gets committed. If you have any questions or would like to discuss fraud .