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 »
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Posts Tagged: forensic accounting services
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 »
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 »
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 »
Financial Statements Can Be Invaluable in Fraud Deterrence
Financial statements issued by companies, government entities or organizations can be invaluable tools in fraud deterrence. But too often, the people in charge don’t bother to read these statements on a regular basis, and those who do often don’t understand what they are reading. Understanding your financial statements, and knowing what to look for, are… Read more »
A Disaster Recovery Plan Can Help your Business Survive a Disaster
Disasters are in the news every day. Tornadoes. Hurricanes. Sinkholes. Floods. Fires. As a matter of practice, you’ve probably insured your home, your business, your health and your very life in the event disaster strikes. But what do you actually do when the immediate threat has passed? Do you have a disaster recovery plan in… Read more »
