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Posts Categorized: Forensic Accounting

Anderson Speaks to Bucks County Estate Planning Council

David Anderson, CPA, CFE, CVA, addressed the Bucks County (Pa.) Estate Planning Council in February on the topic of forensic accounting services in Philadelphia and business valuation in a divorce. Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides a full range of business valuation services in the Delaware Valley,… Read more »

General Observations from Interviews with Fraudsters

A key part of any fraud investigation involves interviewing employees, customers, vendors and others.  These interviews, explain a leading Philadelphia forensic accountant and Certified Fraud Examiner, can help provide an understanding of the business, uncover potential fraud, frame the size and scope of the fraud and identify potential fraudsters. However – according to David Anderson,… Read more »

Trusted Employees Often At the Root of Corporate Fraud

Check any online or print news source almost any day; you’ll probably find articles reporting on fraud investigations involving hundreds of thousands and even millions of dollars being pilfered from small and large businesses, governmental entities and charity groups. Far too often, the blame falls to the feet of a trusted employee with years of… Read more »

How Personal Goodwill Affects Business Valuations

When determining the value of professional services businesses – such as law firms, medical practices or accounting, engineering or consulting operations – it is important, according to a noted Philadelphia forensic accountant and Certified Valuation Analyst, to consider the personal goodwill associated with the professional or business owner. David Anderson, principal of David Anderson &… Read more »

Protecting Charities and Non-Profits from Fraud

Given the nature of their organizations and missions, people would think that houses of worship, charities and other non-profit organizations would be free of financial fraud issues. However, most people – says a noted Philadelphia forensic accountant and Certified Fraud Examiner – would be wrong. According to David Anderson, principal of David Anderson & Associates,… Read more »

Three More Common Mistakes Made When Valuing a Business – Part Two of Two

Our study of the most significant mistakes made while setting a business valuation concludes as a well-respected Philadelphia forensic accountant and Certified Valuation Analyst takes a closer look at three additional issues that often are encountered in this process. Relying on outdated business transactions and industry growth rates: According to David Anderson, principal of David… Read more »

Five Frequently Made Mistakes in Valuing a Business – Part One of Two

While most business valuations properly follow applicable professional standards, some have fallen short when the financial professional makes one or more significant mistakes.  Here, from a noted Philadelphia forensic accountant and Certified Valuation Analyst, are two of the five most frequently made business valuations miscues. The three other top mistakes will be detailed in our… Read more »

Fighting Vendor Billing Fraud

Businesses and other organizations can fall victim to vendor billing fraud perpetrated by outside parties just as easily as they can be by unscrupulous employees or managers, explains a noted Philadelphia forensic accountant and Certified Fraud Examiner. An example of this, according to David Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting… Read more »

What is a Song Worth?

When valuing a business – or part of a business, a financial professional must take into account such intangible assets as patents, trademarks, trade names, goodwill, literary works, and even songs, according to a leading Philadelphia forensic accountant and Certified Valuation Analyst. “Although the phrase ‘I got it for a song,’ meaning for practically no… Read more »

Why Bank Reconciliations Are Critical in Protecting Against Fraud

It is important for a business to closely monitor and control its bank reconciliations and other account-related activities to help prevent fraud, according to a noted Philadelphia forensic accountant and Certified Fraud Examiner. David Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides a full range of fraud investigation and… Read more »

Tricks of the Trade – Looking at the Numbers

As part of the normal procedure of analyzing financial and accounting information, a forensic accountant will look closely at the numbers themselves. Such tight scrutiny can help unearth potential fraud or other abuse of financial information, according to David Anderson, a Philadelphia forensic accountant and principal of David Anderson & Associates, a Philadelphia forensic accounting… Read more »