Who is IRM?
Interactive Risk Management (IRM) was formerly Accountants @ Law (A@L) – niche forensic accountants, providing litigation support to attorneys, counsel and corporate clients. After selling A@L to Zungu Investments Co. IRM changed focus to transactional analysis and validation (TAV) and quantitative methods such as inventory management modelling, while still providing forensic consulting services to A@L.
Services
1. Transactional analysis and validation (TAV)
2. Quantitative methods including inventory management modelling
3. Review of corporate governance in respect of financial and fraud risk
4. Valuations and quantification of damages
5. Due diligence and investigation, including business rescue support
6. Expert witness and forensic accounting litigation support
Our focus is on using quantitative methods as risk management tools
We analyse underlying corporate transactional data using sophisticated data mining tools, external reference databases and our experienced professional team. The analysis focuses on identifying hidden relationships in the data to identify fraud, questionable transactions, system defects and risk areas that require closer review.
Success Stories
IRM provides professional services at the highest level and has helped in the recovery, or the saving, of hundreds of millions of Rands for our clients.
Lack of corporate governance and identification of multiple questionable transactions
We recently analysed the transactional data of a large formerly JSE listed service provider with over 30 000 employees and turnover in excess of R5 billion in various jurisdictions. Our findings startled the executives as they trusted that the controls in place were adequate to prevent highly questionable transactions across numerous functional areas of the business. We are now working with the client to build system controls to proactively identify questionable transactions to assist in prevention. Their ongoing Masterfile management was hopelessly inadequate, which gives rise to high potential fraudulent conduct.
Fraudulent transactions below corporate authority threshold
An international entity was defrauded by a senior employee over 10 years by fabricating invoices for fraudulent work purportedly done by an entity related to his wife and approving these amounts which were below the threshold level of his authority, hence avoiding detection for 10 years, which resulted in losses of over R20 million.
Identification of duplicate payments due to failure to reconcile to creditors statements
The client did not reconcile monthly supplier invoices to supplier statements erroneously duplicated payments by the client were undetected until we identified, such, resulting in a direct recovery from the suppliers at no cost to the client.
Our Associates
Over the last 24 years IRM has built up wonderful relationships with numerous highly professional service providers across a wide spectrum of business in international jurisdictions including legal, statistics, quantitative methods, IT, cyber forensic IT, marketing, medical, forensics, state organisations, criminal authorities, actuaries, property and equipment valuers, auctioneers, asset tracers and local as well as international databases and many other disciplines. Where appropriate we utilise these skills in providing our services to our clients. There is such specialisation today that this business model provides far more successful outcomes for our clients. In providing our TAV and other services we rely on our in house as well as our independent IT associates including leading international artificial intelligence (AI) providers, such as Analycat (https://analycat.com)
