Stronger protection for your business, reputation & bottom line
Think of Risk Advisory as proactive maintenance to reduce exposure, strengthen controls and safeguard what you’ve worked hard to build so you can replace uncertainty with resilience.
How We Help
In today’s fast-changing environment, businesses face greater risk than ever. BS&P’s Risk Advisory services are designed to protect your organization before issues arise, serving as proactive maintenance for your business.
We start by evaluating your existing policies, procedures, and internal controls to identify gaps and strengthen your framework. Our internal control reviews provide clear, practical recommendations to safeguard assets, improve compliance, and enhance operational efficiency.
We also help clients address fraud risk head-on. With Certified Fraud Examiners and Certified Information Technology Professionals on our team, we bring the specialized expertise needed to assess vulnerabilities, implement preventative measures, and investigate fraudulent circumstances should they arise.
Every engagement involves partner-level support, ensuring you receive the highest expertise and strategic insight. We are proud of the knowledge our team can offer in combining our accounting expertise with technological guidance so that we can address today’s risks and help position your business to adapt to future vulnerabilities.
What We Offer
Internal Control Reviews
As CPAs and fraud examiners, we understand that effective risk management depends on strong checks and balances. Our team starts with risk assessment by evaluating the controls currently safeguarding your business, and where needed, designs more robust systems to protect your assets and operations. A well-structured internal control framework not only deters fraud but improves efficiency, accountability and compliance. This is a foundational step towards SOC reporting readiness. We approach this as an ongoing remediation process, providing regular reviews and updates to help you stay ahead of evolving risks and prevent costly exposures.
Forensic Accounting
Fraud costs businesses an estimated 7% of annual revenues, and no organization is immune. If you find yourself in a fraud situation, you can be assured that your engagement will be led by our Certified Fraud Examiner and other forensic audit professionals to help you safeguard against risk, uncover irregularities, and strengthen your internal controls. With years of investigative auditing experience, we’re skilled at detecting and quantifying fraud, locating hidden assets, and rebuilding compromised financial records. Whether you’re proactively assessing vulnerabilities or responding to a suspected incident, our team provides the expertise you need to protect your organization and maximize recovery.
FAQs
Your Questions, Answered
How is Risk Advisory different from an audit or SOC Report?
SOC Reporting is an independent audit that evaluates a company’s internal controls. It is especially critical if you are a service company or doing business with a third party provider, where you may have increased risk exposure. SOC reporting evaluates whether you have the optimal controls in place to address any threats or risks and engaging in one provides your customers and stakeholders with higher trust and confidence in your work. Risk advisory is a macro assessment of a company’s risk management and governance controls. SOC reports are a helpful component in assessing risk, identifying gaps and moving towards more sophisticated risk management strategy.
What are the most common types of fraud that occur in small companies?
We have assisted clients with a variety of fraud cases with the highest incidence rates involving check tampering, fraudulent billing, skimming, cash larceny, expense reimbursements and payroll schemes. We take great pride in helping to ensure justice is served.
What are some warning signs I should look for in employees who are committing fraud?
Employees committing fraud often display certain behaviors or characteristics that may serve as “red flags” including:
- Living beyond their means
- Financial difficulties
- Family or personal problems
- Refusal to take vacations
- Wheeler dealer attitude
- Unusually close attention with vendor / customer
- Control issues
- Unwillingness to share duties
The presence of one or more of these characteristics does not necessarily mean that fraud is actually occurring; however, management should explore the possibility that fraud exists.
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Ready to build a stronger defense for your business?