General counsel in Canadian organizations should think about taking on a greater role in the compliance function to help combat fraud before it takes place, says a forensics expert with KPMG.
For years, John Williams, a partner with KPMG LLP based in Calgary has worked with audit committees and boards as well as in-house counsel. “More often than not when we get involved with the GC it’s on a reactive basis because there’s been a problem,” says Williams.
Often, it has been a situation when a senor level executive has engaged in some inappropriate behavior such as a form of fraud or other financial misconduct it often involves a call to a forensic accountant. In its recent report, "Who is the typical fraudster?" KPMG looks at patterns in fraud and provides insight based on its analysis of 348 actual investigations, including many cases of financial misreporting.