Forensic Accounting & Security Analysis Service
Detect Fraud. Quantify Losses. Strengthen Security.
Financial fraud and security breaches are among the most serious threats facing Nigerian organisations today. From internal theft and financial statement manipulation to cyber-enabled fraud and asset misappropriation, the financial and reputational damage can be devastating. The Association of Certified Fraud Examiners estimates that organisations lose approximately 5% of revenue to fraud annually, and in Nigeria, where regulatory scrutiny is intensifying, the stakes are particularly high. At Qeeva Advisory, we provide forensic accounting and security analysis services that help you detect fraud, quantify losses, strengthen controls, and protect your organisation from future threats.
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Why Nigerian Organisations Need Forensic Accounting & Security Analysis
Financial crime is evolving rapidly in Nigeria, and organisations must be equipped to detect, investigate, and prevent it. Here are the most critical challenges we help you address.
Internal Fraud and Asset Misappropriation – Employee fraud, theft, and asset misappropriation remain among the most common and costly forms of financial crime. Without robust controls and detection mechanisms, fraud can continue undetected for years.
Financial Statement Fraud – Deliberate manipulation of financial statements misleads investors, lenders, and regulators. Creative accounting and profit manipulation undermine trust and can lead to severe regulatory penalties.
Cyber-Enabled Fraud and Security Breaches – As organisations digitise, they face increasing cyber threats including hacking, ransomware, data breaches, business email compromise, and payment fraud. The financial and reputational impact can be severe.
Corruption and Bribery – Corruption and bribery undermine governance, distort markets, and expose organisations to significant legal and reputational risk. Detection and prevention require robust anti-fraud frameworks.
Regulatory and Compliance Investigations – Regulators including the SEC, CBN, FIRS, and EFCC may conduct investigations that require organisations to respond with accurate, well-documented financial information.
Litigation and Dispute Support – Commercial disputes, shareholder disagreements, and litigation often require forensic accounting expertise to quantify losses, analyse financial evidence, and provide expert testimony.
Weak Internal Controls – Weak internal controls create opportunities for fraud, errors, and misappropriation. Fraud often exploits control weaknesses that could have been addressed through proper design and monitoring.
Insider Threats – Employees, contractors, and trusted insiders pose significant security risks. Detecting and preventing insider threats requires specialised expertise in both financial and security analysis.
The Solution: Forensic Accounting & Security Analysis
We provide forensic accounting and security analysis services that help you detect fraud, quantify losses, strengthen controls, and protect your organisation. Our approach combines investigative expertise, financial analysis, data analytics, and security assessment.
At Qeeva Advisory, we understand that forensic accounting and security analysis require more than standard audit procedures—they require investigative rigour, financial expertise, and a deep understanding of fraud and security risks. Our team brings together forensic accountants, financial analysts, and security specialists who work together to protect your organisation.
Matthew Ogagavworia, FCA, CFAN, brings over 20 years of experience across banking and finance, capital markets, oil and gas, consulting, and audit, with specialist expertise in Forensic Accounting and Taxation. This expertise forms the foundation of our forensic accounting practice.
Whether you need fraud investigation, loss quantification, litigation support, security assessment, or proactive fraud prevention, we provide the expertise and commitment to help you protect your organisation.
Our Comprehensive Forensic Accounting & Security Analysis Services
We offer end-to-end forensic accounting and security analysis services tailored to the Nigerian business environment.
Fraud Investigation
We conduct thorough, discreet investigations into suspected fraud.
Fraud Detection and Investigation – We investigate suspected fraud, including asset misappropriation, financial statement fraud, procurement fraud, payroll fraud, and expense fraud. We gather evidence, interview witnesses, and document findings.
Internal Theft Investigations – We investigate internal theft of cash, inventory, assets, and intellectual property. We trace funds, identify perpetrators, and quantify losses.
Financial Statement Fraud Investigation – We investigate allegations of financial statement manipulation, including revenue recognition fraud, expense manipulation, and asset overstatement.
Procurement and Vendor Fraud – We investigate procurement fraud, including bid rigging, kickbacks, vendor collusion, and inflated invoicing.
Payroll Fraud – We investigate payroll fraud, including ghost employees, inflated hours, unauthorised overtime, and expense reimbursement fraud.
Corruption and Bribery Investigations – We investigate allegations of corruption and bribery, gathering evidence and supporting regulatory or legal proceedings.
Loss Quantification and Damage Assessment
We quantify financial losses resulting from fraud, breach of contract, or other wrongdoing.
Fraud Loss Quantification – We quantify losses resulting from fraud, including direct losses, indirect losses, and consequential losses. Our analysis supports insurance claims, legal proceedings, and recovery efforts.
Breach of Contract Damages – We quantify damages resulting from breach of contract, including lost profits, consequential damages, and mitigation costs.
Intellectual Property Infringement – We quantify losses resulting from intellectual property infringement, including lost sales, lost royalties, and brand damage.
Business Interruption Losses – We quantify business interruption losses resulting from fraud, security breaches, or other events.
Shareholder Dispute Quantification – We quantify financial impacts in shareholder disputes, including dilution, mismanagement, and diversion of assets.
Litigation and Dispute Support
We provide expert support for legal proceedings and commercial disputes.
Expert Witness Testimony – We provide expert witness testimony in courts and arbitration proceedings, explaining financial evidence and opinions clearly and credibly.
Litigation Support – We support legal teams with financial analysis, evidence assessment, and case preparation.
Arbitration Support – We provide financial analysis and expert support for arbitration proceedings.
Commercial Dispute Support – We support commercial disputes with financial analysis, loss quantification, and expert opinion.
Shareholder and Partnership Disputes – We provide financial analysis and expert support for shareholder and partnership disputes.
Forensic Data Analytics
We use advanced data analytics to detect fraud and anomalies.
Transaction Analysis – We analyse transactional data to identify unusual patterns, anomalies, and potential fraud indicators.
Benford’s Law Analysis – We apply Benford’s Law and other statistical techniques to identify suspicious patterns in financial data.
Duplicate Payment Detection – We identify duplicate payments, overpayments, and unauthorized payments.
Expense Analysis – We analyse expense data to identify policy violations, inflated claims, and fraudulent expenses.
Data Mining for Fraud Indicators – We mine financial and operational data for fraud indicators, including unusual transactions, round amounts, and unusual timing.
Continuous Monitoring – We implement continuous monitoring systems that detect fraud indicators in real time.
Security Analysis
We assess security risks and vulnerabilities across your organisation.
Security Risk Assessment – We assess physical, cyber, and operational security risks, identifying vulnerabilities and recommending mitigation.
Internal Control Review – We review internal controls for fraud vulnerabilities, identifying control weaknesses that create opportunities for fraud.
Segregation of Duties Review – We assess segregation of duties, identifying instances where single individuals have excessive control.
Access Control Assessment – We review access controls over systems, data, and physical assets, identifying inappropriate access.
Insider Threat Assessment – We assess insider threat risks, including employee, contractor, and vendor risks.
Cyber Security Assessment – We assess cyber security controls, including network security, data protection, access management, and incident response.
Physical Security Assessment – We assess physical security controls, including facility access, asset protection, and surveillance.
Fraud Vulnerability Assessment – We conduct comprehensive fraud vulnerability assessments, identifying risks and recommending controls.
Anti-Fraud and Anti-Corruption Frameworks
We help you design and implement frameworks that prevent fraud.
Fraud Risk Assessment – We conduct fraud risk assessments to identify where your organisation is most vulnerable to fraud.
Anti-Fraud Policy Development – We develop anti-fraud policies and procedures that clearly communicate expectations and consequences.
Whistleblower Mechanisms – We design whistleblower mechanisms that encourage reporting of misconduct while protecting whistleblowers.
Anti-Bribery and Corruption Frameworks – We develop anti-bribery and corruption frameworks that comply with Nigerian and international standards.
Fraud Awareness Training – We deliver fraud awareness training for employees, managers, and executives, building awareness of fraud risks and red flags.
Code of Conduct Development – We develop codes of conduct that articulate ethical expectations and guide behaviour.
Fraud Response Plans – We develop fraud response plans that guide your organisation’s response when fraud is detected.
Regulatory Investigation Support
We support organisations responding to regulatory investigations.
Regulatory Investigation Response – We support organisations responding to investigations by the EFCC, SEC, CBN, FIRS, and other regulators.
Evidence Collection and Preservation – We collect and preserve financial evidence for regulatory and legal proceedings.
Forensic Reporting – We prepare forensic reports that clearly document findings, evidence, and opinions.
Regulatory Liaison – We support communication with regulators during investigations.
Asset Tracing and Recovery
We trace assets and support recovery efforts.
Asset Tracing – We trace assets that may have been misappropriated or hidden, including funds, property, and investments.
Recovery Support – We support recovery efforts through legal proceedings, negotiation, and asset recovery mechanisms.
Bankruptcy and Insolvency Fraud – We investigate fraud in bankruptcy and insolvency situations, including asset concealment and preferential transfers.
Cross-Border Asset Tracing – We support cross-border asset tracing, working with international partners where required.
Financial Crime Compliance
We help organisations comply with financial crime regulations.
Anti-Money Laundering (AML) Compliance – We develop AML policies and procedures, conduct AML risk assessments, and provide AML training. Money laundering represents one of the most significant threats to global financial integrity, affecting not only traditional financial institutions but also a wide array of non-financial businesses.
Know Your Customer (KYC) Reviews – We review KYC processes and procedures, ensuring compliance with regulatory requirements.
Sanctions Screening – We support sanctions screening processes, ensuring compliance with sanctions regimes.
Transaction Monitoring – We design transaction monitoring systems that identify suspicious transactions and support reporting obligations.
Suspicious Activity Reporting – We support the preparation and submission of suspicious activity reports (SARs).
Our Investigation Methodology
We follow a rigorous, structured methodology for forensic investigations.
Phase 1: Planning and Scoping – We understand the allegation or concern, define investigation scope, and develop an investigation plan. We identify relevant evidence, systems, and individuals.
Phase 2: Evidence Gathering – We gather financial records, documents, electronic data, and other evidence. We ensure evidence is collected and preserved appropriately.
Phase 3: Analysis – We analyse financial data, documents, and evidence to identify patterns, anomalies, and fraud indicators. We use data analytics to support analysis.
Phase 4: Interviews – We conduct interviews with relevant individuals, including witnesses, suspects, and management. We document interviews and findings.
Phase 5: Reporting – We prepare comprehensive reports documenting our findings, evidence, and conclusions. We provide clear, defensible opinions.
Phase 6: Remediation and Control Improvement – We provide recommendations for control improvement and remediation, helping prevent future fraud.
Industries We Serve
We provide forensic accounting and security analysis services across multiple sectors in Nigeria.
Banking and Financial Services – We investigate fraud in banking, insurance, and other financial services. Money laundering represents one of the most significant threats to global financial integrity.
Manufacturing – We investigate procurement fraud, inventory theft, and asset misappropriation in manufacturing environments.
Oil and Gas – We investigate fraud in energy sector transactions, including procurement, contracts, and joint ventures.
Retail and Consumer Goods – We investigate retail fraud, including inventory shrinkage, refund fraud, and employee theft.
Healthcare – We investigate fraud in healthcare billing, claims, and procurement.
Technology and Digital – We investigate cyber-enabled fraud, data breaches, and intellectual property theft.
Professional Services – We investigate fraud in professional service firms, including billing fraud, expense fraud, and trust account mismanagement.
Government and Public Sector – We support government investigations into corruption, procurement fraud, and asset misappropriation.
Non-Profit and NGOs – We investigate grant fraud, donation fraud, and asset misappropriation.
Real Estate and Construction – We investigate construction fraud, including inflated invoices, bid rigging, and contractor fraud.
Why Choose Qeeva Advisory for Forensic Accounting & Security Analysis
Deep Forensic Expertise – Our team brings deep expertise in forensic accounting, fraud investigation, loss quantification, and litigation support. Matthew Ogagavworia, FCA, CFAN, brings over 20 years of experience with specialist expertise in Forensic Accounting and Taxation.
Multi-Disciplinary Approach – We combine forensic accounting, data analytics, security assessment, and legal support to provide comprehensive solutions.
Nigerian Market Knowledge – We understand the Nigerian business environment, including local fraud schemes, regulatory requirements, and cultural factors.
Discretion and Confidentiality – We conduct investigations with the utmost discretion and confidentiality, protecting your reputation and legal position.
Rigorous Methodology – We follow established investigation methodologies that ensure thoroughness, accuracy, and defensibility.
Expert Testimony – We provide expert witness testimony in courts and arbitration proceedings, explaining financial evidence clearly and credibly.
Technology-Enabled – We leverage advanced data analytics and forensic technology to detect fraud and analyse evidence.
Practical and Actionable – We provide practical recommendations that strengthen controls and prevent future fraud.
End-to-End Support – We provide comprehensive services from investigation to remediation to ongoing monitoring.
Confidentiality and Integrity – We treat your information with the highest level of confidentiality.
Related Services
Internal Control Advisory Services – Strengthen governance, prevent fraud, and drive operational excellence.
Learn More About Internal Control Advisory Services
Risk Management Services – We specialize in identifying and managing business interruption risks, including regulatory compliance and internal audit support.
Learn More About Risk Management Services
Audit and Assurance Services – We provide audit and assurance services to ensure your financial records are accurate and compliant.
Learn More About Audit and Assurance Services
Business Recovery Services – Rescue your business, restore stability, and rebuild for growth.
Learn More About Business Recovery Services
Financial Reengineering & Corporate Reorganization Services – Restructure for resilience, reorganize for growth, and rebuild value.
Learn More About Financial Reengineering & Corporate Reorganization Services
Business Valuation Services – We provide professional business valuations for M&A, financial reporting, shareholder disputes, and capital raising.
Learn More About Business Valuation Services
Fixed Asset Verification and Asset Control Services – Know what you own, protect what you have, and optimize what you use.
Learn More About Fixed Asset Verification and Asset Control Services
Financial Liability Valuation Services – We provide IFRS-compliant valuations for debt instruments, derivatives, provisions, and employee benefits.
Learn More About Financial Liability Valuation Services
Suggested Reading
Anti-Money Laundering Compliance for Non-Financial Firms in Nigeria – Money laundering represents one of the most significant threats to global financial integrity, affecting not only traditional financial institutions but also a wide array of non-financial businesses.
Common Accounting Errors That Affect Profitability in Nigeria – Accounting errors quietly drain profits, attract penalties, and limit growth.
Preparing a Business for External Audits in Nigeria – External audits can be daunting, but with the right preparation, they become an opportunity to demonstrate your business’s financial integrity.
Deferred Tax Asset Validation Burndown: Complete Guide for Nigerian Businesses – Deferred tax asset validation is a critical financial reporting discipline that has become even more important with the enactment of the NTA 2025.
Frequently Asked Questions (FAQ)
1. What is forensic accounting?
Forensic accounting is the use of accounting, auditing, and investigative skills to examine financial evidence, detect fraud, quantify losses, and support legal proceedings. It combines financial expertise with investigative rigour.
2. What is security analysis?
Security analysis is the assessment of physical, cyber, and operational security risks, identifying vulnerabilities and recommending controls to protect assets, data, and people.
3. When should I engage forensic accountants?
You should engage forensic accountants when you suspect fraud, need to quantify losses, require expert testimony in litigation, respond to regulatory investigations, or want to assess fraud vulnerabilities and strengthen controls.
4. What is fraud investigation?
Fraud investigation is the process of examining financial records, documents, and evidence to determine whether fraud has occurred, identify those responsible, and quantify losses.
5. How do you quantify fraud losses?
We quantify direct losses (funds or assets misappropriated), indirect losses (costs incurred as a result), and consequential losses (lost profits, damage to reputation). Our analysis supports insurance claims, legal proceedings, and recovery efforts.
6. What is forensic data analytics?
Forensic data analytics uses advanced analytics to detect fraud and anomalies in financial and operational data. Techniques include transaction analysis, Benford’s Law analysis, duplicate payment detection, and continuous monitoring.
7. What is a fraud vulnerability assessment?
A fraud vulnerability assessment identifies where an organisation is most vulnerable to fraud, assesses existing controls, and recommends improvements to prevent and detect fraud.
8. Do you provide expert witness testimony?
Yes. We provide expert witness testimony in courts and arbitration proceedings, explaining financial evidence and opinions clearly and credibly.
9. Do you serve businesses outside Lagos?
Yes. While our head office is in Ikeja, Lagos, we serve businesses across Nigeria. Our forensic accounting and security analysis services are available to clients regardless of location.
10. How do I get started?
Contact us to schedule your free consultation. We’ll discuss your forensic accounting and security analysis needs, assess your situation, and provide recommendations for how we can help.
Contact Us
Detect fraud, quantify losses, and strengthen security. Let us build a partnership that protects your organisation from financial crime and security threats.
Schedule Your Free Consultation to discuss your forensic accounting and security analysis needs and explore how we can help.
Phone: +234 802 320 0801, +234 807 576 5799
Email: info@qeeva.com
Address: 5, Ishola Bello Close, Off Iyalla Street, Alausa, Ikeja, Lagos, Nigeria
Business Hours: Monday to Friday, 8:00 AM – 6:00 PM WAT
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