Fraud And Misuse of Company Resources Drive Start of New Investigations Practice

Coopers & Lybrand L.L.P. has launched Coopers and Lybrand Investigations L.L.C., to help clients gather information it says can help them "enhance decision making and reduce business risk." The company will focus on corporate investigations to evaluate and investigate fraud, questionable business practices, proposed acquisition candidates, future business partners, vendors, counter-parties in litigation, computer crimes and other strategic exposures.

The addition of Coopers & Lybrand Investigations to the firm's Litigation Consulting practice brings together a team of more than 400 seasoned professionals, located in seven offices across the country.

"Objective information is the foundation of every commercial endeavor," notes Steve Vale, Los Angeles-based head of the investigations practice. "Where risks are being taken and must be managed, where time, energy and capital are being expended, Coopers & Lybrand Investigations can provide value. We can help our clients both to prevent significant and costly mistakes and to make more informed business decisions."

Vale, formerly Los Angeles managing director of a major private investigations and security consulting firm, leads a group of consultants whose experience includes state, local and federal government, law enforcement, banking, journalism, consulting, business management and forensic accounting.

"Coopers & Lybrand Investigations services will further strengthen the firm's litigation consulting practice in this area of rising concern to many companies," says Craig Jacobsen, leader of the firm's Litigation and Claims Services group. "Fraud and the deliberate misuse and misapplication of company resources or assets cost U.S. organizations more than $400 billion annually. The average organization loses about 6 percent of its total annual revenue to fraud and abuse. We are pleased to be able to offer our clients an expertise that will help them to minimize this cost."