The value of Q4 Consult
AUDIT, RISK & COMPLIANCE
BUSINESS ADVISORY SERVICES
Q4 Consult is an advisory practice focused on adding value in internal audit, risk, and compliance.
Services include: operational audits, regulatory compliance advisory, internal controls management, risk mitigation, process improvement, and fraud investigation.
We work with clients to strengthen their control environment, compliance efforts, and governance framework. In addition, we help to optimize clients' business performance and enterprise risk management.
How Q4 can help
CONSULTING WITH PURPOSE
The best assurance advisors assist management with operational disruptions, navigating changes in business and technology, managing new regulations, and addressing compliance, fraud, and reputational risks.
At Q4 Consult, we've got the professional skills and the proven track record to be your trusted business advisor to help with your internal audit, risk, and compliance needs. Our mission is to add value as we mitigate your risks and support your business objectives.
We are based in Montreal, Canada and we actively seek local and international mandates. We provide services in English and French. Contact us and we'd be delighted to tailor a solution to satisfy your business needs. Your satisfaction is our priority.
Q4 Advisory Services
INTERNAL AUDIT
Internal auditing is an objective assurance and consulting activity that adds value and improves an organization's operations by bringing a systematic approach to assessing and improving the effectiveness of the governance processes, risk management, and control environment. Mandates include: operational, cost reduction, governance, third party relationships, and financial reporting.
REGULATORY COMPLIANCE
Non-compliance with regulations is not an option. We help your organization to identify the regulations that affect your business and implement controls and processes to address these requirements. Areas of review also include conflicts of interest, anti-bribery, anti-money laundering, anti-terrorist financing, Foreign Corrupt Practices Act, and politcally exposed persons.
RISK MANAGEMENT
Regulatory requirements, operational disruptions, and risks from third parties are areas that are complex, expensive, and damaging to an organization's reputation. An integrated risk management framework can help your company to address risks and even gain a competitive advantage. We are here to help you manage these risks and ensure you remain on-side.
INTERNAL CONTROL ASSESSMENT
Companies enforce internal controls to ensure the financial integrity of transactions, to safeguard assets, to prevent fraud, and to monitor organisational performance. We can help ensure that your internal controls framework meets your business and regulatory requirements.
FRAUD INVESTIGATION
Frauds and financial crime occur regularly and they take its toll on organizations and on society. We can help ensure that your organization has robust anti-fraud procedures and internal controls to detect and mitigate fraud. We also perform detailed and complex fraud investigations, as required.
TRAINING & COACHING
Our courses include: conducting risk-based internal audits, monitoring strategic risks, advanced report writing, conducting fraud investigations, and identifying fraud red flags. For more tailored training or coaching solutions, please contact us.
Contact Q4 Consult today and see how we can tailor a business advisory solution for you
Statistics on Fraud
SOURCE: THE ACFE
5%
IS THE ANNUAL LOSS OF REVENUES DUE TO FRAUD
The ACFE estimates that organizations typically lose 5% of their revenues to fraud each year at an annual estimated cost of $3.5 trillion USD worldwide.
14 months
IS THE AVERAGE TIME FRAUDS GO UNDETECTED
Fraud can have an insidious impact on your organizations and may never be detected. Those that are detected typically take up to 14 months to be uncovered.
86%
OF FRAUD CASES REPORTED WERE RELATED TO ASSET MISAPPROPRIATION
Asset misappropriation fraud schemes accounted for a large amount of the total fraud schemes reported to the ACFE, and the median loss was $100K USD
43%
OF FRAUD CASES ARE DETECTED FROM TIPS
Tips are the most common form by which occupational frauds are detected. These days, frauds are being reported more via web-based forms and emails and the use of hotlines has seen a decline in utility.
2X
HIGHER FRAUD RISKS IN CERTAIN AREAS FOR SMALLER ORGANIZATIONS
Compared to larger businesses, smaller organizations were found to have two times or more incidence of fraud in these areas:
1) Billing fraud: 2X
2) Payroll fraud: 2X
3) Cheque tampering: 4X
50%
OF OCCUPATIONAL FRAUD OCCURRED IN THESE AREAS:
1) Operations: 15%
2) Accounting: 15%
3) Upper management: 12%
4) Sales: 11%
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