Working together, Attorneys and Forensic Accountants Can Bring About Optimal Solutions
There is a value added for a client when an Attorney is working in tandem with a forensic accountant. Litigation often involves overlapping complex accounting and legal issues. Working together, Attorneys and Forensic Accountants can bring about optimal solutions. Clients that work with one and exclude the other are putting themselves at a greater risk. […]
A Forensic Accountant Bringing the Investigative Component to a Matter at Hand, Can Give an Attorney an Edge
Presenting results in an easily understood manner is something one must expect a forensic accountant to bring to the plate. The skill set of a forensic accountant can provide a significant advantage by taking complex financial data and putting it in an understandable format for an attorney, judge, and jury. When we speak of forensic […]
Are you Managing your Fraud Risk Proactively?
Managing fraud risk proactively is imperative. It is not only about protecting against financial losses commonly associated with fraud. It is also about surviving reputational risk. There is a need for Organizations to create an environment and implement appropriate controls for detecting fraud ahead of time. An increasing “perception of detection” is widely believed to […]
Forensic Accountants Should Be an Integral Component of PPP Loan Audits
The published goal of the Paycheck Protection Program (PPP) loan program is to assist small businesses to remain open during the Covid-19 crisis and to reduce the rate of unemployment. The loans provide a direct incentive for small businesses to keep their employees on the payroll. The SBA under certain circumstances will forgive all or […]
Fraud is Everywhere. The IRS is looking for it and the Forensic Accountants are right behind them
The Internal Revenue Manual defines fraud as a “deception by misrepresentation of material facts or silence when good faith requires expression, which results in material damage to one who relies on it and has the right to rely on it. “Simply stated, it is obtaining something of value from someone else through deceit”. The U.S. […]
Can you identify a Misappropriation Scheme?
Misappropriation is the use of property or funds of another person for an unauthorized purpose. In misappropriation, the perpetrator steals or misuses an organization’s belongings and resources; usually without force. The organization’s assets can be misappropriated by an employee, a customer or a third-party provider (supplier/vendor). When an organization is identifying a misappropriation scheme, it […]
Forensic Accountants are “Private Detectives”
The current environment of increasing change, economic pressures, globalization, technology, corporate governance, compliance and the complexity of financial transactions are driving forces behind fraud initiation. In addition, economic despair, a single unfavorable event, illness, negative cash flows or deteriorating creditworthiness are also drivers for committing fraud; as well as greed, which can lead to fraud, […]
Varsity Blues, the “Charity” and how a Forensic Accountant can be a Silver Bullet!
Varsity Blues, the “Charity” and how a Forensic Accountant can be a Silver Bullet! was published by JD Supra on 5/29/19. The forensic accounting skillset of FBI Special Agent, Mrs. Laura Smith, is receiving a lot of credit for her work in the largest college scandal in the U.S; the Varsity Blues Operation. In […]
Should Business Owners rely on Whistleblowers or Forensic Accountants?
Should Business Owners rely on Whistleblowers or Forensic Accountants? was published by JD Supra on 12/21/18. According to a recent Foreign Corrupt Practices Act (FCPA) Blog entry (11/28/18), over 40% of internal frauds are discovered by whistleblowers and statistics show that 74% of whistleblowers are terminated. The National Center for Whistleblowers states that: “Whistleblowers are […]
Forensic Accounting and Fraud Check-Ups
Forensic Accounting and Fraud Check-Ups – South Florida Legal Guide.
Conflict of Interest: When professional judgement is compromised….
Conflict of Interest: When professional judgement is compromised…. JD Supra. Conflicts of interest can arise at any time during a professional engagement. According to the American Institute of Certified Public Accountants (AICPA), “A conflict of interest may occur if a member performs a professional service for a client or employer and the member or his […]
