The decision to end a marriage is a messy affair that becomes undoubtedly more complicated when the division of property includes a business that must be valued. In these cases, determining a fair value for the business is best left in the hands of a forensic accounting expert who has experience serving as a marital… Read more »
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Posts Categorized: Forensic Accounting
Forensic Accounting Experts Tackle Valuation Issues in Divorce
Marriage dissolution is never easy. Throw in the complexity of one spouse owning a business that must be equitably valued and the complications multiply. Fortunately, forensic accounting experts who also have served as marital dissolution accountants and business valuation experts can help unravel the complexities and help the parties reach a fair valuation of the… Read more »
Forensic Accounting Experts Unravel Complex Valuation Issues in Divorce
Ending a marriage equitably can be a complex process when spouses and their attorneys face the daunting prospect of determining the value of a business. In these cases, it is always a good idea to consult a forensic accounting expert who also has served as a marital dissolution accountant and a business valuation expert to… Read more »
Fraud Investigations Identify Common Expense Reimbursement Schemes
Expense reimbursement fraud is one of the most common and pervasive types of fraud affecting companies today. While the amount stolen by any one individual is relatively low, fraud investigations have found that the sheer number of employees committing this type of fraud can translate into a significant loss for a company. “Many employees don’t… Read more »
Business Valuation: Why Shares in Private Companies Are Discounted
You own 25 percent of a privately held business valued at $2 million, so it stands to reason that your investment is worth $500,000, right? Not necessarily. When valuing an ownership interest in a privately held company, business valuation experts must consider factors that can significantly reduce the value of your stake in the business…. Read more »
Fraud Tales: Fraud Investigation Uncovers Theft in Auto Dealership
An auto dealership with a high volume of business established specific cash controls to assure that no car was delivered to a buyer until the dealership had received or accounted for all payments due from the sale. Despite the required checks and balances, a fraud investigation found that a senior salesman was able to misappropriate… Read more »
Recovering from Disaster with the Help of a Forensic Accounting Expert
Hurricanes. Tornadoes. Floods. Blizzards. Fires. When disaster strikes, companies often rely on business interruption insurance to cover lost profits and extra expenses incurred as a result of the catastrophe. They also often rely on a forensic accounting expert to guide them through the complex process of calculating lost profits and filing the necessary economic damage… Read more »
Fraud Tales: Fraud Investigation Uncover Inventory Control Weaknesses
The anti-fraud controls in place at a shipping supplies company were extensive and outwardly thorough. Incoming shipments were closely checked against the shipping manifest and outgoing shipments against the sales requisition that then became the invoice. The warehouse had an alarm to prevent break-ins. And the company conducted a detailed physical inventory at year-end to… Read more »
Forensic Accounting Experts Play Crucial Role in Marital Dissolution
Ending a marriage is difficult under any circumstances. But it becomes a complex and tangled affair when the marriage involves spouses who brought numerous assets into the marriage or acquired them during it. In these situations, a forensic accounting expert plays a crucial role in the marital dissolution by sorting through the financial maze to… Read more »
Fraud Tales: Fraud Investigation Reveals Fraud Scheme in Supplies Shipping
The Director of Operations at a large national financial services firm was very good at his job. Asked to cut costs, the Director recommended the company centralize its purchase of office supplies, a move he said would save the company more than $50,000 a year. Sure enough, during the first three years of the program,… Read more »
Fraud Tales: Fraud Investigation Finds Stolen Cash in Business
Cognizant of the rampant escalation of fraud in the business world, the owner of a mid-sized retail establishment took great care in establishing fraud deterrence measures to protect the company. With more than 80 percent of the company’s sales paid in cash, multiple checks and balances were put into place to make sure each day’s… 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 »