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Posts Categorized: Company News

Outsourced CFOs Bring Big Benefits at Reasonable Cost

Many small- to medium-sized businesses rely on their controller or accounting manager to handle routine financial and accounting matters.  But what if a company’s financial needs exceed the basic functions their controller or accounting manager can provide?  What happens when the more specialized services of a Chief Financial Officer (CFO) are needed, but the company… Read more »

Fraud Deterrence on Foreign Soil

Your company has decided to open a factory overseas, or to begin selling their products in a foreign country.  Do you understand the laws that will affect how your company operates outside the boundaries of the United States?  Which payments to foreign government officials are allowed and which are considered fraudulent?  A forensic accounting expert… Read more »

Fraud Tales: Fraud Investigation Reveals Loopholes in Checkbook Controls

Harry Johnson was a savvy businessman who was well aware of the perils of not having the proper fraud deterrence measures in place.  He took great care to see that his successful small business was adequately protected by anti-fraud controls that he created himself.  Then how did Harry end up losing more than $200,000 from… Read more »

Forensic Accounting Experts Bring Peace of Mind in Trust and Estate Disputes

If you have children or grew up with brothers and sisters of your own, you probably know all about sibling rivalry and family squabbling.  The conflicts tend to be fairly mundane.  Who got the biggest piece of cake?  Whose turn is it to take out the garbage?  Who borrowed a favorite sweater without permission?  And… Read more »

Understanding Business Valuation, Part V

The process of determining the worth of a business is a complicated one.  A business valuation expert must undertake a series of preliminary steps to set the groundwork and then consider the value of the business from three very distinct approaches before forming a professional opinion as to the initial value.  With this process completed,… Read more »

Understanding Business Valuation, Part IV

Business valuation experts must undertake a series of preliminary steps to set the groundwork for determining the worth of a business.  Once those steps are complete, valuators must consider three very distinct approaches to valuing a business. In earlier postings, David Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides… Read more »

Pay for Fraud Deterrence Now — or Fraud Losses Later

Remember the old auto oil filter company commercial with the tag line “Pay me now or pay me later?”  The advertising message being sent was that the small upfront cost to replace your car’s oil filter now could prevent more costly repairs in the future.  The same can be said about fraud deterrence programs —… Read more »

Understanding Business Valuation, Part III

Determining the worth of your business can be a complex matter.  Before the actual business valuation can truly get underway, there are a multitude of steps that must be taken to set the groundwork. In previous postings, David Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides a full range… Read more »

Fraud Deterrence Can Ferret Out Phony Vendors

One of the most frequent schemes deceptive employees use to steal money in the workplace is the creation of phony vendors who are paid for services never rendered or goods never delivered.  There are, however, fraud deterrence steps organizations can take to help ferret out these fictional vendors. “It really is a popular tactic among… Read more »

Understanding Business Valuation, Part II

Understanding how to achieve a fair and accurate business valuation is something every business owner — at some point — needs to know. “You don’t want to rely on estimates, gut instinct or rumored calculation methods to determine business value,” said David Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting firm that… Read more »

Understanding Business Valuation, Part I

Do you know the value of your business?  There are myriad reasons why you might need to know — from mergers and acquisitions to estate issues or marital dissolution.  When the time comes, understanding how a fair and accurate business valuation is determined is of paramount importance. “The first step in valuing a business is… Read more »

Prosecution: The Ultimate Step in Fraud Deterrence

So you’ve been the victim of fraud.  You knew something was amiss.  You hired a Certified Fraud Examiner.  A thorough fraud investigation uncovered the fraud and identified the perpetrator.  You fired the fraudster — or punished them internally — and implemented stronger anti-fraud controls as part of your overall fraud deterrence program.  So it’s over,… Read more »