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Fraudsters often believe they have covered their tracks so well that their activity is untraceable, but they are increasingly running into a significant obstacle when attempting to hide their crimes: Their digital footprint. During the last decade, people have...
During my over two decades of working in the valuation profession, I have valued several hundred entities and reviewed hundreds of valuation reports, including business valuation calculation reports, summary reports, and comprehensive valuation reports prepared by...
The impact of COVID-19 on the value of private company interests is being actively explored and discussed nationwide by business valuation professionals, their professional trade associations, and users of business valuations (e.g. attorneys). Because COVID-19 can...
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 the most unorganized and...
Accountant malpractice claims have been a growth industry for litigators for more than two decades, thanks to increasingly strict professional standards for auditors and accountants. And there’s no letup in sight. In fact, even in 2020, with the coronavirus wreaking...
Despite the distractions and upheaval the Covid-19 pandemic has had on your business, be careful not to overlook another threat that could be looming around the corner — fraud in the workplace. Occupational fraud is the misuse of one’s occupation for personal gain and...
An estate executor audit can become necessity at some point. An all-too frequent concern for people who are no longer managing their own finances: Are they being taken advantage of by a trustee, executor, or attorney-in-fact—and what can they do to spot and prevent...
When financial fraud investigators discuss corruption in the workplace, they are usually referring to a single employee who is exploiting their position for personal benefit. Collusion, however, involves multiple people working together to abuse their power. When a...
The mass exodus of employees from traditional offices in the wake of the COVID-19 pandemic and the growing ease with which information can be moved and shared has made one thing clear: Businesses are facing a risk-filled new frontier when it comes to their data...
CPAs, especially those in smaller accounting practices, usually have close relationships with their clients—and rightfully so. After all, who else is better positioned to understand clients’ finances and businesses than their trusted accountants? That is until they...
Economic turmoil can serve as a powerful accelerant for employee fraud, pressuring cash-strapped companies to sacrifice compliance activities to save money and fueling financial insecurity and temptation among workers.
According to the Association of Certified Fraud Examiners 2018 Report to the Nations, fraudulent disbursement schemes remain the costliest form of asset misappropriation fraud to threaten small businesses. Although this risk can seem overwhelming, it may be avoidable...