PracticeAccounting FirmsHong Kong forensic expert flown in to aid PwC Leeds practice

Hong Kong forensic expert flown in to aid PwC Leeds practice

PricewaterhouseCoopers has brought in one of its biggest guns to help boost its new forensic centre in Leeds

PwC’s head of computer forensics in Hong Kong is relocating to the UK to lead
the firm’s forensic practice in Leeds.

Russell Wallace will take the helm of the new forensic lab based in Yorkshire
in order to deal with the increase in fraud cases since the beginning of the
recession the
Yorkshire
post
reported

He was previously head of computer forensics at Hong Kong where he used
technology to support fraud, corruption and other financial crime investigations
in emerging economies such as China.

Wallace is a former commercial crime agent with the New South Wales Police in
Sydney.

Wallace said: “Understanding technology, and having the knowledge and
experience to interpret it, is vital to the future of investigations. Basically
we are searching for the smoking gun in a corporate information and financial
system.”

“Such tools underpin not only our investigation and e-disclosure services,
but also our proactive services including fraud detection, and helping companies
not to pay more than required for software licenses” he added.

The PwC office in Leeds will now have three specialists and over 20 staff in
three offices in the area.

The forensic department will identify financial irregularities and introduce
procedures to limit future risks of fraud – which has reached its highest level
in 13 years at more than £1bn in 2008.

Fran Marwood, Northern leader of fraud and investigation team, said fraud is
currently high on most companies’ agendas. “As a consequence of current economic
conditions, we have seen a large increase in fraud,” he said.

Further reading:

Frauds put forensic accountants in the spotlight

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