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Best Practices for Employers: Conflicts of Interest

Best Practices for Employers: Conflicts of Interest

In my last blog, I discussed why corruption in the workplace always requires a conflict of interest. Conflicts of interest arise when employees have interests that may make it difficult to maintain one’s duty of loyalty to their company in an objective and effective manner. Quashing all conflicts of interest within businesses would be difficult to conduct; therefore, it is important to know how to reduce the risks inherent in conflicts of interest.
Quickbooks Audit Trail: Fraudulent Behavior Detection

Quickbooks Audit Trail: Fraudulent Behavior Detection

The QuickBooks Audit Trail (or Audit Log, depending on the version) provides a log of each accounting transaction and denotes any additions, deletions or modifications affecting the integrity of the transaction. The tool captures every transaction from the time it is initially entered into QuickBooks, and tracks changes to the original entry, including transaction type, date, account, vendor/customer name, transaction amount, quantity, and price. The Audit Trail also reveals the User ID under which the entry, deletion or modification was made. The Audit Trail is a report built in the QuickBooks ReportCenter– all you have to do is click a button to generate the report.
Why Corruption Always Requires a Conflict of Interest

Why Corruption Always Requires a Conflict of Interest

When it comes to corruption, there is almost always a common denominator: a conflict of interest. A conflict of interest exists when an individual or corporation has the opportunity – real or perceived - to exploit their position for personal or corporate benefit. Corruption occurs when the individual or corporation takes advantage of that opportunity and indeed abuses their position for private gain.
Adding the Value: Business Valuation Expertise in Divorce Litigation – Part Two

Adding the Value: Business Valuation Expertise in Divorce Litigation – Part Two

In my last blog post, I explained what an active/passive appreciation study is, scenarios in which it would be conducted and the value that a business valuation expert brings to the table when performing the analysis. As a refresher, an active/passive appreciation study is often required in matrimonial litigation when an existing business or business interest is owned by one spouse prior to the marriage, or is gifted or bequeathed to one spouse during the marriage. Since we have covered the basics, we can now dive deeper and discuss the various phases and steps of an active/passive appreciation study.
The Digital Footprint: Where to Look

The Digital Footprint: Where to Look

The world of technology offers the opportunity for fraud experts to trace the “untraceable.” With technology becoming more popular and present in our lives by the day, people are conducting their lives more digitally, whether through email, texting, social media or Internet browsing. Collecting, analyzing and interpreting the electronic evidence of fraudulent activity is becoming more widespread in the fraud examination world, and will most likely soon become the standard.
Adding the Value: Business Valuation Expertise in Divorce Litigation

Adding the Value: Business Valuation Expertise in Divorce Litigation

When going through a divorce, determining the marital value of private business interests can often get tricky – this is especially true if one spouse has a separate ownership interest in a business. An active/passive appreciation study is often required in matrimonial litigation when an existing business or business interest is owned by one spouse prior to the marriage, or is gifted or bequeathed to one spouse during the marriage.
The Give and the Take in Charitable Giving

The Give and the Take in Charitable Giving

Charitable giving, while good with intent, is not always received as expected. Let’s say you and I give to a seemingly worthwhile charity. You may be surprised at who really takes from the charity – frequently, it’s the fundraisers and executives. Oftentimes the fundraisers and executives are one in the same, since many founders will leave the charity to start a consulting and fundraising business to contract with the charity. This is really where it begins to get out of hand.
Fraud Suspected in the Workplace? Employers, You Better Read This – Part One

Fraud Suspected in the Workplace? Employers, You Better Read This – Part One

There’s no way around it—according to the Association of Certified Fraud Examiners, an estimated five percent of annual revenues are lost to financial crime. What do these numbers mean for you? Big or small, public or private – with statistics like these, there’s a good chance your business is more likely than not to fall victim to internal fraud.
Best Practices for Employers: Conflicts of Interest

Best Practices for Employers: Conflicts of Interest

In my last blog, I discussed why corruption in the workplace always requires a conflict of interest. Conflicts of interest arise when employees have interests that may make it difficult to maintain one’s duty of loyalty to their company in an objective and effective manner. Quashing all conflicts of interest within businesses would be difficult to conduct; therefore, it is important to know how to reduce the risks inherent in conflicts of interest.
Quickbooks Audit Trail: Fraudulent Behavior Detection

Quickbooks Audit Trail: Fraudulent Behavior Detection

The QuickBooks Audit Trail (or Audit Log, depending on the version) provides a log of each accounting transaction and denotes any additions, deletions or modifications affecting the integrity of the transaction. The tool captures every transaction from the time it is initially entered into QuickBooks, and tracks changes to the original entry, including transaction type, date, account, vendor/customer name, transaction amount, quantity, and price. The Audit Trail also reveals the User ID under which the entry, deletion or modification was made. The Audit Trail is a report built in the QuickBooks ReportCenter– all you have to do is click a button to generate the report.
Why Corruption Always Requires a Conflict of Interest

Why Corruption Always Requires a Conflict of Interest

When it comes to corruption, there is almost always a common denominator: a conflict of interest. A conflict of interest exists when an individual or corporation has the opportunity – real or perceived - to exploit their position for personal or corporate benefit. Corruption occurs when the individual or corporation takes advantage of that opportunity and indeed abuses their position for private gain.
Adding the Value: Business Valuation Expertise in Divorce Litigation – Part Two

Adding the Value: Business Valuation Expertise in Divorce Litigation – Part Two

In my last blog post, I explained what an active/passive appreciation study is, scenarios in which it would be conducted and the value that a business valuation expert brings to the table when performing the analysis. As a refresher, an active/passive appreciation study is often required in matrimonial litigation when an existing business or business interest is owned by one spouse prior to the marriage, or is gifted or bequeathed to one spouse during the marriage. Since we have covered the basics, we can now dive deeper and discuss the various phases and steps of an active/passive appreciation study.
The Digital Footprint: Where to Look

The Digital Footprint: Where to Look

The world of technology offers the opportunity for fraud experts to trace the “untraceable.” With technology becoming more popular and present in our lives by the day, people are conducting their lives more digitally, whether through email, texting, social media or Internet browsing. Collecting, analyzing and interpreting the electronic evidence of fraudulent activity is becoming more widespread in the fraud examination world, and will most likely soon become the standard.
Adding the Value: Business Valuation Expertise in Divorce Litigation

Adding the Value: Business Valuation Expertise in Divorce Litigation

When going through a divorce, determining the marital value of private business interests can often get tricky – this is especially true if one spouse has a separate ownership interest in a business. An active/passive appreciation study is often required in matrimonial litigation when an existing business or business interest is owned by one spouse prior to the marriage, or is gifted or bequeathed to one spouse during the marriage.
The Give and the Take in Charitable Giving

The Give and the Take in Charitable Giving

Charitable giving, while good with intent, is not always received as expected. Let’s say you and I give to a seemingly worthwhile charity. You may be surprised at who really takes from the charity – frequently, it’s the fundraisers and executives. Oftentimes the fundraisers and executives are one in the same, since many founders will leave the charity to start a consulting and fundraising business to contract with the charity. This is really where it begins to get out of hand.
Fraud Suspected in the Workplace? Employers, You Better Read This – Part One

Fraud Suspected in the Workplace? Employers, You Better Read This – Part One

There’s no way around it—according to the Association of Certified Fraud Examiners, an estimated five percent of annual revenues are lost to financial crime. What do these numbers mean for you? Big or small, public or private – with statistics like these, there’s a good chance your business is more likely than not to fall victim to internal fraud.