The Power of Advanced Data Analytics

False Claims Investigation

When a whistleblower sounded the alarm on their employer that had allegedly violated the Anti-Kickback Statute and submitted false claims to the government, FSS was hired by the whistleblower’s attorneys to pinpoint evidence and determine the value of any identified claims.

Computer Forensics

FSS was hired by the Board of Directors of a regional company to assist with an internal investigation amid questions of unexplained declines in cash flows and the lack of timely financial reporting.

The Power of Advanced Data Analytics | Lindsay H. Gill

Lindsay H. Gill, director of forensic technology, explains the benefits advanced data analytics bring to financial investigations Advanced data analytics can provide unparalleled insights when attorneys enlist forensic investigators, helping to ensure vital information does not go undetected.

Analyzing the Variety of Data | Lindsay H. Gill

Lindsay H. Gill, director of forensic technology, discusses the differences between structured data – or “traditional” data – and unstructured data, which investigators use to help fill the holes or see the bigger picture within a case. Lindsay also explains how forensic investigators should use and compare structured and unstructured data.

Speech, Voice and Body Language as a Lie Detector | Kelly J. Todd

Kelly J. Todd, managing member and member in charge of forensic investigations, discusses how investigators can use vocal tone and body language as a lie detector. Kelly also outlines how statement analysis can help an investigator understand the meaning behind the words, and highlights body language red flags to look for in an interview.

Detecting Deception: Determining the Baseline | Kelly J. Todd

Kelly J. Todd, managing member and member in charge of forensic investigations, explains that everyone has a “norm”– a basic pattern of behavior that they exhibit under normal amounts of stress, which is also known as their baseline. In this video, Kelly outlines the steps to take to determine the baseline during an interview. She […]

Myths in Detecting Deception | Kelly J. Todd

Kelly J. Todd, managing member and member in charge of forensic investigations, discusses common myths in detecting deception. Contrary to popular belief, detecting deception can be a challenge, as people tend to focus on the wrong signals. Kelly explains misconceptions about the behaviors and body language of someone who is lying, and how to increase […]

Using Data to Tell a Story & Find the Answers | Kelly J. Todd

Kelly J. Todd, managing member and member in charge of forensic investigations, discusses how FSS uses advanced data analytics to ferret out the truth in fraud investigations via data visualization. Kelly explains how electronic evidence and data can be leveraged in forensic investigations, from verifying or challenging a plaintiff’s testimony to identifying trends and patterns […]

Leveraging Technology in Auditing | Ralph Q. Summerford

Ralph Q. Summerford, president, discusses technology’s presence in the world of forensic accounting, focusing on the old – data mining – and the new – artificial intelligence and digital currency, such as bitcoin. He explains how FSS has extensive experience in leveraging these technologies to take their work to the next level, and stresses the […]

The Benefits of Technology in Auditing | Ralph Q. Summerford

Ralph Q. Summerford, president, examines the benefits data mining and artificial intelligence provide to auditors. Ralph discusses the differences between these technologies, and how they help auditors spot trends and unusual transactions. While auditors are beginning to introduce data mining and artificial intelligence into their processes, Ralph stresses that these technologies do not allow auditors […]

Accounting Malpractice Lawsuits: The Importance of CPAs Seeking Outside Counsel | Ralph Q. Summerford

Ralph Summerford, president of Forensic Strategic Solutions, discusses the importance and benefits of CPAs hiring outside counsel if they are at the center of an accounting malpractice case. He also discusses confusion that CPAs often have surrounding accounting malpractice insurance.

Accounting Malpractice Lawsuits: The Value a CFE Brings to Attorneys | Ralph Q. Summerford

Ralph Summerford, president of Forensic Strategic Solutions, discusses the critical value a certified public accountant (CPA) who is also a certified fraud examiner (CFE) can add to an accounting malpractice case for attorneys, whether the attorney is prosecuting or defending an accountant. One of the greatest values a CFE can add is their ability to translate […]

Depreciation & Capital Expenditures – Business Valuations | Kelly Schmid

Kelly Schmid, director of valuation services at Forensic Strategic Solutions, discusses the process of estimating depreciation expenses and capital expenditures in a cash flow forecast. She also examines how an incorrect estimate can impact a business valuation.

What Are Capital Expenditures & How Do They Depreciate? | Kelly Schmid

Kelly Schmid, director of valuation services at Forensic Strategic Solutions, explains what capital expenditures are (also known as fixed assets). She also discusses the replacement and depreciation of capital expenditures, as well as the common misconception that depreciation and capital expenditures should always be equal in a normalized cash flow forecast.

Conflicts of Interest: Educational Tools for Employers | Kelly J. Todd

Kelly Todd, managing member at Forensic Strategic Solutions, discusses how conflicts of interest can arise in the workplace and challenges associated with conflicts of interests that employers often face. She also discusses educating employees on conflicts and how to detect conflicts.

The Common Denominator of Corruption: Conflicts of Interest | Kelly J. Todd

Kelly Todd, managing member at Forensic Strategic Solutions, discusses the close relationship between conflicts of interest and corruption. She also discusses preventative measures that can be taken to minimize opportunities for conflicts of interest to morph into corruption.

Active/Passive Appreciation in Divorce Litigation: Part Two | William C. Dameworth

Active/Passive Appreciation in Divorce Litigation: Part One | William C. Dameworth

Leveraging Social Media in Fraud Investigations – II | Lindsay H. Gill

Lindsay Gill, director of forensic technology at Forensic Strategic Solutions, shares insight into the benefits associated with attorneys hiring forensic investigators to uncover evidence on suspects’ social media accounts. She also discusses how to authenticate the evidence gathered and the methods to do so.

Leveraging Social Media in Fraud Investigations – I | Lindsay H. Gill

Lindsay Gill, director of forensic technology at Forensic Strategic Solutions, discusses social media and its role as a helpful tool to uncover fraudulent electronic evidence in an investigation. She also describes best practices for forensic investigators to collect, analyze and interpret findings to connect the dots.

What to do When You Suspect Fraud at Your Organization – II | Kelly J. Todd

Kelly Todd, member in charge of forensic investigations, discusses how to handle the alleged perpetrator, including notifying the perpetrator, conducting an admission-seeking interview and restricting the wrongdoing employee from company access. She also notes the importance of notifying your insurer when you think you might have fraud occurring in your organization.

What to do When You Suspect Fraud at Your Organization – I | Kelly J. Todd

Kelly Todd, member in charge of forensic investigations, discusses the prevalence of fraud in businesses and actions one should take when they suspect fraud in their organization, including assembling a team for the fraud investigation and securing potential evidence.

Accounting Malpractice: When CPAs Miss the Fraud | Leslie P. Littrell

Leslie Littrell, forensic analyst at Forensic Strategic Solutions, discusses accounting malpractice and the recent increase in claims as well as the importance of fraud education. Ms. Parker cites FSS’ work with Auburn University to develop its forensic accounting courses within its Master of Accountancy program as an effort to help expand the knowledge of fraud […]

Data Analytics with a Focus on Technology | Lindsay H. Gill

Lindsay Gill, director of technology at Forensic Strategic Solutions, reviews the key areas in which technology has changed the landscape of fraud investigation and how data continues to become a growing risk for businesses.

Business Valuation for Private Companies | William C. Dameworth

Bill Dameworth, member in charge of valuation services at Forensic Strategic Solutions, discusses the differences between the valuation of privately-held and publicly-held companies and those focused on profit maximization versus tax minimization.

Employee Fraud Awareness Training | Kelly J. Todd

Kelly Todd, member in charge of forensic investigations, gives fraud prevention tips aligning with the ACFE 2014 Report to the Nations research describing employee fraud awareness training as an extremely effective way to reinforce fraud policies, encourage anonymous tips from whistleblowers and establish compliance.

Fraud in Charitable Non-Profit Organizations | Ralph Q. Summerford

Ralph Summerford, president of Forensic Strategic Solutions, cites recent New York Times statistics to help reveal some reasons for the high frequency of fraud in non-profits, including high turnover, poor management and lack of tax audit enforcement. All of these issues make it increasingly difficult for the IRS and law enforcement to uncover and prosecute […]

The Power (and Variety) of Data in Forensic Investigations | Lindsay H. Gill

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.

Quickbooks Audit Trail: Fraudulent Behavior Detection | Lindsay H. Gill

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.

Social Media Evidence: Where to Look and Protocols to Follow | Lindsay H. Gill

As a digital technology expert, it is fascinating to observe how today’s technology-centric world obsesses over anything and everything digital – especially social media. From sharing locations on Instagram and Facebook to live tweeting events, people constantly update their friends – and strangers, if their account is public – on their every movement. Social media […]

The Digital Footprint: Where to Look | Lindsay H. Gill

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.

Technology Talk: Active Data for Excel | Lindsay H. Gill

We all recognize budget is a constant concern for auditors and investigators. Oftentimes our technology budgets are just too tight. We find ourselves looking for powerful tools to add to our toolbox that do not break the bank. One of these tools is Active Data for Excel.

Summation Shortcuts | Leslie P. Littrell

Rooting through and indexing large amounts of documents can be a complex and time-consuming task, placing undue burdens on investigators and clogging a case’s workload. This sort of complication can have negative effects on the timeline and outcome of a case. Enter Summation, an excellent multi-faceted software program used to keep documents organized so that […]

Technology Talk: Excel Shortcuts | Lindsay H. Gill

I was recently surprised to learn at a team meeting that my peers were not as familiar with the many Excel shortcuts that I apparently take for granted. Urged by our team to share more, I decided I should share a few of the more frequently used Excel shortcuts with you:

Cyber-security: Minimizing Internal Threats | Kelly J. Todd

Like a magician’s sleight of hand, the barrage of headline news related to hackers and cyber criminals may divert attention away from the equally dangerous, but perhaps less obvious, threat to your corporate assets: employees. While trusted employees are moving, sharing, and exposing corporate data just to do their jobs, the malicious employee may be deliberately taking confidential information for personal gain or other nefarious reasons.

Let’s Get Digital: Putting Benford’s Law to Use in Fraud Examinations | Forensic Strategic Solutions

A man by the name of Frank Benford. In the 1930s, physicist Benford developed a theory of leading digits, now known as Benford’s Law. Benford’s Law tells us that in a variety of data sets, the probability of occurrence of each digit (0 through 9) as the first digit in a number follows a certain distribution. That is, the digit 1 will occur with about a 30% frequency, followed by the digit 2 at 17.6%, through the digit 9 at 4.6%. See Figure 1.

B.Y.O.D. | Lindsay H. Gill

“Bring your own device,” or “B.Y.O.D,” is a concept that an increasing number of companies are implementing. B.Y.O.D allows employees to use their personally-owned devices in the work place. These devices can range from laptops and tablets to cell phones and flash drives. While B.Y.O.D may be a good plan in theory – employees can work with devices they are comfortable using – It is important for employers to thoroughly consider the implications and potential pitfalls before implementing a B.Y.O.D policy. Consider, for example, the following key areas regarding the security of corporate information and infrastructure:

Social Media in Fraud Investigations | Lindsay H. Gill

There’s no denying it: social media has changed the way we interact with each other. People are tweeting live from events, “checking in” on Facebook, posting pictures to Instagram and commenting on, liking or sharing just about everything. The amount of personal information that social media users willingly put “out there” is staggering.

QuickBooks Audit Trail: Leveraging This Tool to Expose the Footprints of a Fraudster | Forensic Strategic Solutions

Employers, if you use QuickBooks for your company’s accounting needs, you have a built-in tool for fraud prevention and detection at no additional cost to you: the QuickBooks Audit Trail.

Computer Forensics v. E-Discovery: What Every Expert Should Know | Kelly J. Todd

Increasingly, the answers to the most fundamental litigation questions – the “who, what, where, when, and why” – are contained in electronically stored information (ESI), which can be retrieved through electronic discovery (e-discovery) and/or computer forensics.

How to Find Electronically Stored Information | Kelly J. Todd

In our case study, gas station owner, Morris, has alleged that Green Fuel, a small gasoline distributor, overcharged him. Both parties had inadequate and unsophisticated documentation, making determining losses very difficult.

Electronically Stored Information: The Case Study | Kelly J. Todd

You might not think that a small business would have useful or accessible electronically stored information (ESI). Consider this example of identifying and obtaining relevant forensic evidence to determine lost profit damages with this particular small business.

Unlocking the Potential of Electronically Stored Information | Kelly J. Todd

Think twice before you assume that an unsophisticated small business cannot possibly have any useful or accessible electronically stored information (ESI).