Video | Protiviti Legal Perspectives With Managing Director Melissa Cohen In the latest episode of Protiviti Legal Perspectives, host Chad Volkert, Global Solutions leader at Protiviti, sits down with Melissa Cohen, a managing director in Protiviti’s Legal Consulting practice, to explore the intricacies of managing internal fraud investigations and proactive risk management. With nearly two decades of experience in forensic accounting and financial investigations, Melissa brings a wealth of expertise to the conversation, offering insight into how companies can effectively navigate sensitive legal matters.Melissa’s background as a certified public accountant (CPA) and certified financial-forensics professional sets the stage for her deep knowledge in handling fraud investigations, whistle-blower cases and misappropriation of assets. She emphasizes the critical role that outside counsel plays in ensuring that all investigations are conducted under attorney–client privilege. From the outset of any inquiry, Melissa advises clients to engage their internal legal teams and outside counsel to protect sensitive information and maintain confidentiality. Topics Legal Litigation One of the key aspects of managing internal investigations, Melissa explains, is establishing clear communication and collaboration between in-house counsel, outside legal advisers and corporate stakeholders. This cross-functional approach helps ensure that each party’s expertise is leveraged effectively. By creating a comprehensive work plan at the start of an investigation, the team can outline responsibilities, set objectives and align on periodic updates to keep all parties informed. This collaborative framework helps prevent silos and fosters a unified approach to resolving complex legal matters.Technology plays a pivotal role in modern investigations, particularly when it comes to data collection and preservation. Melissa highlights the importance of working alongside technologists to collect data from various sources, including email servers, messaging platforms and mobile devices. This data is then processed and hosted in secure environments, enabling teams to analyze critical information efficiently. However, she cautions that without proper oversight, technology can also present risks, such as inadvertently recording meetings or mishandling sensitive data. To mitigate these risks, Melissa’s team ensures that all data-collection and communication practices are aligned with protocols pertaining to attorney–client privilege.Beyond reactive investigations, the conversation delves into proactive advisory work aimed at helping corporations prevent legal crises before they arise. Melissa underscores the significance of understanding where company data resides and implementing robust document-retention and mobile-device policies. Many companies, she notes, are unprepared when faced with an investigation, lacking the knowledge of their own data-retention schedules or how to initiate legal holds. By conducting litigation-preparedness assessments, companies can position themselves to respond swiftly and efficiently in the event of an inquiry.Another proactive measure is maintaining up-to-date policies and procedures. Melissa advises companies to have detailed records of all policies, including any iterations, readily available. These documents serve as a foundation for forensic reviews and help identify gaps in compliance or internal controls. When companies have well-documented procedures and clear data mapping, they are better equipped to address potential issues before they escalate into full-blown investigations.Melissa also shares key red flags that corporate stakeholders should watch out for to prevent fraud and misconduct. One common oversight is the failure to leverage available data to proactively detect anomalies. For example, many organizations use corporate credit cards or procurement cards without integrating transaction-level data into expense-monitoring systems. By incorporating detailed bank-provided data into expense-review processes, companies can enhance accountability and identify discrepancies more effectively.Ultimately, the conversation highlights the value of a collaborative, transparent approach to legal investigations and risk management. Melissa’s insights underscore the importance of working hand in hand with clients to build proactive frameworks that not only respond to legal crises but also help prevent them. By fostering open communication, leveraging technology responsibly and maintaining robust policies, companies can better protect themselves against fraud and misconduct.Want to learn more? Listen to our other episodes from the Protiviti Legal Perspectives podcast to stay up-to-date on the latest trends and insights shaping the legal industry. For more information about Protiviti’s services, visit our website.
