David Anderson is principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides a full range of forensic accounting services in Philadelphia and the Delaware Valley. As a Certified Fraud Examiner, I belong to the Association of Certified Fraud Examiners (“ACFE”). This international organization has more than 75,000 members in more than… Read more »
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Posts Tagged: David Anderson & Associates
Revisiting the Fraud Triangle – A Closer Look at Rationalization
The Fraud Triangle is a troika of troublesome tendencies – Opportunity, Pressure and Rationalization – that often are present when fraud is taking place. In previous posts, David Anderson of David Anderson and Associates, a Certified Fraud Examiner offering forensic accounting services in Philadelphia, has mentioned that if at least one of the three factors… Read more »
Socially Engineered Fraud Is Nothing to LOL About
We are constantly reminded to create difficult-to-guess passwords, change our passwords frequently, install security hardware and software and regularly update our software to protect against cyber-based fraud. However, according to David Anderson, a Certified Fraud Examiner and principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides a full range of forensic… Read more »
Revisiting the Fraud Triangle – A Closer Look at Pressure
The Fraud Triangle is a triumvirate of factors – Opportunity, Pressure and Rationalization – that must be present in order for a fraud to occur. In previous posts, David Anderson of David Anderson and Associates, a Certified Fraud Examiner offering forensic accounting services in Philadelphia, has mentioned that if at least one of the three… Read more »
Revisiting the Fraud Triangle – A Closer Look at Opportunity
The Fraud Triangle is a combination of three factors – Opportunity, Pressure and Rationalization – that must be present in order for a fraud to occur. In previous posts, David Anderson of David Anderson and Associates, a Certified Fraud Examiner offering forensic accounting services in Philadelphia, has mentioned that if at least one of the… Read more »
Regular Review of Financial Statements Can Help in Fraud Deterrence
Financial statements issued by companies, government entities or organizations – when reviewed on a regular basis – can help in fraud deterrence. In many situations, though, executive officers rarely check these statements and, in cases where they do, they often do not understand what they are reading. Knowing your financial statements, and understanding what to… Read more »
Strong Business Planning Can Help You Survive a Disaster
Natural and man-made disasters happen every day. At some point, somewhere in the world, there is a major fire, flood, storm, sinkhole or other event that can threaten to you put out of business, temporarily or permanently. What would you do if that happened? You certainly have homeowners insurance, auto insurance, health insurance, life insurance… Read more »
The Person at the Top Can Best Stop Fraud
As a smart and competent proprietor of a business who has a number of smart and competent people working in key positions, you probably think you might not need to take steps to deter fraud. Everyone knows stealing is bad, correct? It’s also true, you might believe, that you – as the owner, the man… 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 »
What Is Your Business Worth? Get a Formal Business Valuation
You read in the paper that a local business just sold for $15 million. You feel your company is about one-third the size of that operation. Does that mean you have a $5 million business? A friend said she heard you can determine the worth of a business by multiplying its income by six and… 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 »
