Our goal at "Fovera Prostasia S.A." is to stand by entrepreneurs and continuously enrich the scope of our services. The transparency services sector was created to assist companies and organizations in the prevention and management of operational risks.
Our aim is to add value to businesses by contributing to risk management (including fraud risks), the implementation of effective controls, and the investigation of fraudulent activities.
No company or organization is exempt from the risk of fraud. According to the latest ACFE report, losses from fraudulent activities are estimated at 5% of annual sales. Unfortunately, only a very small percentage of victimized companies manage to fully recover the damages they suffered. Our company operates proactively by identifying potential fraud schemes, assessing their exposure, evaluating appropriate control design, and monitoring their operational effectiveness (i.e., their practical implementation). In case you have already fallen victim to fraud, our team, consisting of certified fraud examiners (CFEs), undertakes the fraud investigation and prepares an expert report in full compliance with international best practices.
According to the same report, based on data from 2,110 fraud cases in 133 countries, the whistleblower policy is one of the most powerful detection and prevention measures against fraud, as reports for the period 2020-2022 were the primary means of fraud detection (42%), and if well-designed, it reduces the average fraud loss by 50%. Moreover, very recently, the EU Directive 1937/2019, which provides for the implementation of an effective whistleblowing policy by both public and private entities, was adopted into National Law through Law 4990/2022. Our company takes on the following tasks: the development of a whistleblowing policy in full compliance with Laws 4990/2022 & 4080/2021, the receipt and/or investigation of reports with complete confidentiality, and the provision of statistical data to the management at regular intervals to address weaknesses in the internal control system.
Additionally, our company provides internal audit services to both public and private sector entities, in full compliance with International Standards (IPPF). According to the Institute of Internal Auditors, internal audit is an independent and objective assurance and consulting activity designed to add value and improve an organization's operations. It helps the organization achieve its objectives by adopting a systematic, professional approach to evaluating and improving the effectiveness of risk management processes, internal control systems, and corporate governance.
"Fovera Prostasia S.A." also provides technical support for legal disputes and a range of certification systems (ISO).
Indicative services:
- Fraud prevention and investigation
- Internal audit
- Legal disputes
- Development of whistleblowing policies in accordance with EU Directive 1937/2019 and Laws 4808/2021 & 4990/2022.
- Whistleblowing management and/or investigation
- Technical support for ISO standardization systems
Why us:
- We operate in absolute compliance with International Standards (e.g., IPPF) and international best practices.
- Our team consists of Certified Internal Auditors and Certified Fraud Examiners with deep knowledge of the subject matter.
- We continuously update our knowledge and operate in full compliance with mandatory Continuing Professional Education rules within our membership organizations.
- We have extensive experience in internal audit, fraud prevention, and investigation.
- We are always available and provide responsible advice.
- We respond promptly to your needs.
- We implement the most reliable information technology solutions.
- We approach cases holistically and take into account all factors that affect a business.
