Single European Vat Area

The EU are reviewing the operation of Vat within the European Union. The following proposals have been made:

The Cornerstones of a definitive vat regime

  1. The principle of taxation at destination for intra-EU cross border supplies of goods. Under this principle the Vat rate of a member state of destination, where the buyer is located, is charged.
  1. The confirmation that the vendor is liable in the case of an intra-EU supply of goods as a general rule, which means that the seller is responsible for charging and collecting the Vat. However, if the buyer is a ‘certified taxable person’ it is the buyer who is liable for payment of Vat due directly to the treasury of the member state of destination.

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Posted on January 9, 2018 by Nigel Mayberry

Why do Fraudsters do it?

As a fraud examiner, we consider the Fraud Triangle:-

  • Pressure
  • Opportunity
  • Rationalisation

In 2008 a Harvard Business School professor, Eugene Soltes examined this question and in 2016 published a book on the subject.

He found that middle management and employees further down the corporate ladder might commit fraud because they found a ready source of cash to ease their economic problems.

What puzzled Soltes is why well-paid business people committed fraud and he interviewed Read more

Posted on November 16, 2017 by Paul Leonard

Forensic Techniques To Detecting Procurement Fraud

The starting point for such an investigation is gathering all the payments to suppliers preferably over a number of years.  We then sort this information to enable us to review trends in the payment history.  Once this data is gathered, sorted and reviewed we carry out the following procedures.

1. Background checks on the suppliers

  • Internet presence – is their website professionally designed and does it advertise the goods and services that were supplied
  • Is the supplier reputable and who are the suppliers’ other clients
  • Is the supplier company a long-standing registered company or recently incorporated
  • Who are the Directors/shareholders of the supplier and is there any links to key staff in the business we are examining
  • What is the address used by the supplier and carry out checks on the address for multiple users

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Posted on November 14, 2017 by Paul Leonard

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