Certified forensic loan auditor methods
The forensic loan audit is the best course of action any borrower may want to take in case they may experience any difficulty regarding their loans. The audit is performed by a certified forensic loan auditor who is well conversant with the steps and procedures of a scientific audit so as to be able to find the illegalities in the loan documents and procedures. This evidence will be used by the borrower to either negotiate the terms of the loan or for court use should they decide to follow up the case in the court.
The auditor may use certain method s to collect the evidence, these methods include;
- Identifying the type of fraud committed and how it has been concealed.
- Identifying the perpetrators of the fraud.
- Identifying the loss the borrower has suffered.
- Using analytical procedures to compare trends in different parts of the business and the loan documents.
- Use of computer aided audit techniques to find the details of the information that may have been altered.
- Testing the controls to identify the weaknesses that may have caused the fraud to be committed.
- Forensic data analysis of anomalies that may be present in the loan documents.
After the evidence has been collected a comprehensive report is produced. The report contains a summary of the evidence collected and the loss that may have been suffered as a result of the fraud. The report includes a step by step explanation of how the fraud unfolded. The report also contains the best course of action that may be taken to avoid such cases of fraud in the future.
The final step of a forensic loan audit is the possibility of a court appearance. The auditors will be required to give litigation and advice on the case. The auditors should present the evidence in a simple manner that the court may be able to easily understand. For free consultation please go to https://www.mortgageauditsonline.com/