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 »
Blog
Posts Tagged: forensic accounting
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 »
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 »
Secure Passwords Key to Fraud Deterrence
We hear about it all too often — another data breach at another major bank or retailer. It’s gotten so bad that Americans say they are more worried about identity theft than terrorism. There’s not much you can do to thwart hackers trying to steal data from your bank or favorite store. But you can… 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 »
Fraud Investigation Uncovers Casper, The Unfriendly Ghost Employee
Casper Richardson was the perfect employee. He was never sick, opted out of company medical insurance, often worked overtime, received glowing reviews from his supervisor, and always cashed his paycheck on payday. Casper’s one fault? He didn’t actually exist. Casper was a ghost employee that a subsequent fraud investigation revealed had cost the company a… 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 »
