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Posts Tagged: forensic accountant

Fraud Tales: Fraud Investigation Tracks Tiny Fraud that Grew

As fraudulent activity goes, it was a seemingly miniscule theft — a mere $2,000 pilfered decades ago.  Hardly worth raising an eyebrow.  But the case of Mark Jenkins is a prime example of how a seemingly innocuous case of fraud can mushroom into a major theft, requiring a forensic accountant to conduct a fraud investigation… Read more »

Fraud Tales: Fraud Investigation Uncovers Medicare and Medicaid Fraud

Government payments to providers under the Medicare and Medicaid programs are based on an “honor billing system,” meaning it is up to providers to honestly and accurately bill the government for services or goods provided.  Not surprisingly, fraud investigations routinely uncover fraudulent activities that cost the government billions of dollars each year. “As a forensic… Read more »

Fraud Tales: Fraud Investigation Reveals Fraudulent Junior Partner

The senior partner at an auto dealership was a successful businessman who owned multiple businesses.  As a result, he relied heavily on his junior partner to act as the general manager of the dealership.  With the dealership running smoothly and turning a profit, the senior partner had no reason to suspect anything was amiss until… 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 »

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 »

Engage Expert Witnesses Early for Successful Litigation Support

Trial attorneys know that expert witness testimony from a forensic accounting expert can be critical in determining the outcome of legal proceedings.  Likewise, the timing of when an attorney engages the services of a forensic accountant for litigation support services and, ultimately, expert witness testimony also has a direct bearing on the success or failure… 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 »