© 2019 Association of Certified Fraud Examiners, Inc.

Building Your Fraud

Examination Practice

Managing Client Expectations

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Managing Client Expectations

▪ Managing client engagements starts from the

initial phone call through the close of the

case.

▪ It is often more difficult managing client

expectations than performing the actual fraud

examination.

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Receiving the Initial Phone Call

▪ It’s more than money.

• Human element

• Demographics of perpetrators

▪ Explain what CFEs can do . . . and what they

can’t.

• Credentials and expertise

▪ Avoid overpromising.

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Receiving the Initial Phone Call

▪ Provide initial direction to

the client.

• Legal counsel

• Insurance

• Preservation of evidence

▪ Offer to meet.

• Understand client’s urgency

to start engagement

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Receiving the Initial Phone Call

▪ Common conundrums:

• Timeline

• Lacking expertise

• Unable to answer questions

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Sealing the Deal

▪ Prove they can

handle it.

• Cut through the chaos.

• Have a plan.

▪ Discuss a phased

approach.

• Suggest a limited

scope.

• Discuss fees.

• Discuss resources.

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Sealing the Deal

▪ Engagement letter

▪ Retainer

▪ Initial direction to client:

• Documents to obtain

• Additional evidence

preservation

• Employees’ assistance

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Sealing the Deal

▪ Set realistic

expectations.

• Complicating factors

• Estimated time to

complete engagement

• Prosecution timeline

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Sealing the Deal

▪ Common conundrums:

• No money

• Nervous about engagement letter

• Testimony “requirements”

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Working the Case

▪ Discuss the end game.

• Insurance claim?

• Criminal prosecution?

• Civil complaint?

▪ Discuss deliverables.

• Full report?

• Schedules only?

• Verbal only?

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Working the Case

▪ Discuss communication preferences.

• Communication is critical to success.

• Establish communication frequency.

• Know the point of contact for questions.

• Know the point of contact for documents.

▪ Know what is important to the client.

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Working the Case

▪ Provide ongoing direction to the client:

• Progress

• Difficulties

• Access to personnel and documents

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Working the Case

▪ Common conundrums:

• The case is more complicated

than anticipated.

• There are no signs of fraud.

• The budget is blown.

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Delivering Work Product

▪ To draft or not to draft.

• Issue a draft?

• Keep copies of drafts?

▪ Keep it simple.

• Do not use complicated terminology.

• Remember the audience.

▪ Prepare for testimony.

• It takes time.

• Communicate what CFEs can testify to . . . and what

they can’t.

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Delivering Work Product

▪ Common conundrums:

• No payment

• Client wants report

changed

• Expert has never testified

before

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Case Closed

▪ Retaining

documents

▪ Follow-up work

▪ Referrals and

testimonials

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The Expert Should:

▪ Have a plan.

▪ Know their strengths and capitalize on

them.

▪ Surround themselves with other experts.

▪ Manage their time.

▪ Manage their cash flow.

▪ Consistently market services.

▪ Deliver results.

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The Expert

To establish oneself in the world, one does all

one can to seem established there already.

—Francois de La Rochefoucauld