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Ipsen Due Diligence examines financial statements such as income and expense statements looking for significant changes and fraudulent misrepresentations.   Investors before closing want to know all they can about the property which can be found by conducting the proper:

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• Financial Due Diligence

• Physical Due Diligence, and

• Legal Due Diligence.

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Third Party Due diligence services begin with assisting lenders and developers with site visits (local or international) for both construction and commercial projects, the examination of property taxes paid, zoning, title search, demographics, rent rolls, estoppels, income projections, utility invoices, legal claims, potential conflicts of interest, internal controls and the examination of vendor invoicing which may signal unpaid obligations or suspicions of fraud. 

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Those wanting an unbiased opinion may also want to know:

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• Is a potential partner or lender legit or a scammer?

• Is the investment property located close to major thoroughfares, airports, banks, medical facilities, and shopping?

• What are the demographics, crime rates, and zoning of the area?

• Does the property if remote have access to needed utilities and water? 

• Is local transportation available?  At what price? 

• What is the status of the local government? What role if any will they have in advancing your project?

• Is the buyer offering an amount far above market price?

• Has the lender asked for exorbitant upfront fees?

• Are there multiple loan applications on the property?

• Are there suspicions of buyer or seller misrepresentation?

• Are false appraisals or inflated prices suspected?

• Is a fraudulent transfer of title suspected?

• As a lender, do you suspect wrongdoing by builders or others?

• Are there "Red Flags" or suspicions of money laundering?

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Regarding Syndications, REITs, Trusts, and Feeder Funds, is there evidence or suspicion of fraud?

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• Is a potential partner or lender legit or a scammer?

• Is there possible 'Bad Actor' involvement?

• Are there suspicions of embezzlement, commingling or wire fraud?

• Are background checks part of your due diligence?  They should be.

• Are financial reports being provided?

• Are they timely and accurate?

• Are disbursements correct and occurring on-time?

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​​​​​​​​​What I Look for in Construction Projects

 

Cost overruns, false applications for payment, problematic change orders, embezzlement, evidence of builder bailouts, inflated material costs, internal controls, vendor fraud, work beyond the agreed upon scope, improper wage rates and equipment billing, theft, diversion or removal of equipment and misrepresentations by subcontractors, unlicensed contractors, non-permitted work, non-payment to subs and/or material suppliers, and material or equipment switches.
 

​Jerry Ipsen has conducted due diligence, financial examinations, written internal controls and has authored "Financial Due Diligence for Commercial Real Estate: Proven Methods to Detect and Prevent Fraud."

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1 to 3 - Day Audit Looking for Suspicious Vendors

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Ipsen Due Diligence offers a 1 to 3-day audit using forensic accounting methods that’s affordable and focused on identifying suspicious vendors. After that, it’s up to you to decide the direction you want to take. You can improve your vendor profiles, cut some loose, calculate your losses if any, demand repayment, take the responsible party to court, or maybe let some employees go in the process. It’s your decision. At a minimum, you’ll know if the accounting department is doing their job or is at the root of the problem.

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​​​​​​Conducting Audits and Financial Investigations to Include Examining Allegations of Theft, Embezzlement and the Misuse of Funds

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• Conducting Announced and Unannounced Periodic Back Office visits for Financial Examination and Fraud Prevention Purposes

• The Examination of Possible Fraudulent Financial Statements

• Verifying Entries of both Cash (Intake) and Check Handling Records

• Reconciliation of Bank Statements

• Conducting onsite visits for Fraud Prevention Purposes

• Speaking to Suppliers to Verify Transactions, Payment and Credits

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It’s not uncommon for property owners (Investors) in income properties, whether SFR, MF, or CRE, to have suspicions or questions regarding the performance of their investment(s) and the property manager.

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​​​​​​​​​​​​Ipsen Due Diligence investigates suspicions of financial mismanagement, embezzlement and the misappropriation of funds by property managers of income properties. 

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When it comes to HOA's, it's important to note that suspicions alone are not enough to warrant an investigation.  HOA fraud usually requires evidence of wrongdoing such as documentation of the misappropriation and may require the support of HOA membership.  Inferences and allegations alone without documentation are not evidence.

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Jerry Ipsen, a member of the Presbyterian church, a Certified Fraud Examiner with an MBA in Finance and service as a Marine Corps Officer is also a published author who along with Christopher Kelly, authored "Keeper of the Money Bag" an article on church fraud, that was published in the Institute of Internal Auditors Fraud Magazine, back in December of 2021.

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Jerry of Ipsen Due Diligence assists churches and nonprofits through speaking engagements and education by introducing them to efficient and safe ways to manage finances, preparing for an audit as well as the ability to recognize the warning signs (red flags) should financial wrongdoing be suspected.  

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Part I:  People Want to Know:

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• Is Church Fraud a Real Thing?​

• What Constitutes an act of Church Fraud?

• Is $60 Billion a year realistic?

• Not my Church!

• Who Would Do Such a Thing?

• What Do You Mean by a Conflict of Interest?

• How Does Church Money Suddenly Disappear?​​

• What are the Red Flags of Suspicious Activity?

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Part II:  Recommended Internal Controls (Measures) to Prevent Acts of Fraud in Regard to:

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• Cash Disbursements

• Payroll

• Bank & Investment Account Management

• Offerings, Deposits, & Contribution Recordkeeping

• Financial Reporting

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What does the Bible say:

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Stewardship: The Bible emphasizes the importance of being good stewards of God's resources. This means managing church money wisely and responsibly. For example, 1 Corinthians 4:2 says, "Moreover, it is required of stewards that they be found trustworthy."

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Transparency and Integrity: The Bible encourages honesty and transparency in financial dealings. In 2 Corinthians 8:21, Paul writes, "For we aim at what is honorable not only in the Lord's sight but also in the sight of man." This implies that church finances should be handled in a way that is above reproach and open to scrutiny.

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​​​​​​​Ipsen Due Diligence helps those who suspect financial wrongdoing from within their organization.  Such acts include embezzlement, checks made out to nonexistent vendors, wrongful card purchases such as gas, personal items, and let's not forget forged checks for payment of an employee's personal debts.

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In addition, Ipsen Due Diligence can assist with your background check and due diligence needs when it comes to the hiring of personnel, management, potential investor, or other interested party.

 

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