Welcome to the second and final part of our blog series on lack of control discounts and control premiums, two critically important issues when calculating the value of a company.
We tackled some of the fundamental questions attorneys may ...
FSS Staff
When working with appraisers, attorneys are likely to grapple with questions about the relationship between two key business valuation concepts involving control exercised over a company.
The first concept is the “lack of control discount,” ...
At many small businesses, it’s not uncommon to still find a mass of paper records, yellowing with age and haphazardly tossed in boxes, as well as old-school computers and dot-matrix printers with tractor feeds and green bar paper.
Yet even ...
Selecting the right expert to calculate economic damages in a breach of contract claim can be critical in the success of an attorney’s case. The expert must be able to calculate damages resulting from a breach of contract and convey the story ...
Organizations often take it as an article of faith that their auditors are following professional standards—and for good reason. Publicly released peer reviews of auditing firms give 95 percent of them passing grades for their work. In fact, a ...
In my last blog post, I discussed the two types of transactions—stock and asset—that are found in the databases appraisers use when applying the guideline transaction method in litigated business valuation and how to use these transactions to ...
From board games to drive-in movies, a whole raft of retro activities have made a comeback amid the COVID-19 pandemic. Unfortunately, fraudsters also have been busy reviving a blast from the past—the Ponzi scheme.
During the last two years, ...
A do-it-yourself approach may work well for repairs around the house, but for CPAs conducting a financial statement audit, engaging specialized forensic accounting services to help design an audit to detect fraud can help avoid a ...
Earlier this year, the U.S. Department of Justice charged eight Brooklyn, N.Y., men with fraudulently scamming more than $2 million out of COVID-19 relief programs.
How did investigators track down the alleged scammers? Four of the ...
Recently, the former comptroller of a Maryland dance academy pleaded guilty to fraud after she gambled away nearly $1.5 million of school funds at a local casino. One embezzlement fraud conviction is bad enough. But the woman in question had ...
For nearly 25 years now, I’ve been exhorting CPAs to take seriously their responsibility to detect fraud during an audit—or face the potentially ruinous financial and reputational consequences of accountant malpractice claims.
Sadly, many ...
A forensic examination can yield a mountain of data from a variety of disparate sources that can help expose wrongdoing and provide hard evidence critical to proving (or disproving) a case.
But gathering and analyzing the data is just ...