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Originally published by ACFE Insights. Smart people commit fraud every day. A recent case gives us a prime example. A federal judge asked Donald Watkins, Sr. to step away from the jury box as Watkins, Sr. made an impassioned plea in his closing argument. Watkins, Sr....
This failure of duty matters – it violates public trust and costs innocent people their jobs, their pensions and above all – faith in a system. The Wall Street Journal reported on March 11, 2019 that David Middendorf, the former national managing partner for audit...
Imagine working at a company for a period of time, checking your bank account and realizing that no paycheck had been deposited in exchange for your work. This scenario would undoubtedly raise red flags. Similarly, cash flow analysis performed by lenders and auditors...
This is violation of trust, and it matters! Auditors must design their audits to look for fraud, and failure to do so may cause massive losses for stakeholders, investors, creditors and retirees. Neglecting to detect fraud can be truly life-altering — especially for...
The US Tax Cuts and Jobs Act (“TCJA”) passed by Congress on December 20, 2017, will impact forecasts of a company’s cash flow and thereby will likely impact the valuation of a company. One of the forecast elements impacted is the forecast of capital expenditures,...
Time and time again, we trumpet the incredible value of advanced data analytics in forensic investigations – often, it is the key to finding the needle in the haystack. Fortunately, our firm remains at the forefront of utilizing data to identify unexpected patterns when investigating financial fraud – that red flag that tells us something isn’t as it should be – whether for a qui tam case involving kickback schemes or a case of underreported revenue.
The right expert selected to compute economic damages is a critical ingredient to help an attorney’s case involving economic damages. As CPAs, we are asked to provide independent, objective opinions and/or consult on issues in a case.
The methodology of a lost profits calculation of damages in a breach of contract claim or intellectual property claim attempts to restore the injured party to their prior financial position. To prepare a calculation that is not viewed as speculative, evidence of loss must match the facts of the case and cannot be cherry-picked.
Written in collaboration with Janine Driver, author of You Can’t Lie to Me OPEN is a key word to remember when detecting deception. Open body language – and an open mind – are your best friends when looking for the truth. An open mind is going to help keep you in the...
Written in collaboration with Janine Driver, author of You Can’t Lie to Me THE FACIAL FAUX PAS Now that you have gathered your intel – you have your subject’s baseline squared away and you’ve peeked behind their words – it’s time to focus on the facial faux pas. There...
Written in collaboration with Janine Driver, author of You Can’t Lie to Me Once we’ve established the baseline, it’s time to drill down to expose the meaning behind the words. While body language has long been the focus of detecting deception, research has shown that...
Written in collaboration with Janine Driver, author of You Can’t Lie to Me THE MASTER OF DECEPTION Bernie Madoff infamously stole $65 billion reflecting 4,900 client accounts in a Ponzi scheme. All told, his investors lost approximately $20 billion of real principal....