21st Century Forensic Accounting

RogerRossmeisl

Forensic accountants are engaged for a wide variety of assignments, among them investigating fraud, auditing internal controls and quantifying damages associated with legal disputes. But the accounting landscape and client needs are constantly changing. Here’s how the profession has adapted and digitized 21st century forensic accounting, and how it’s applying the latest technological solutions. Fraud Briefs Forensic Accounting

How to Work with a Forensic Accountant

RogerRossmeisl

Forensic accountants are professionals who have received specialized training to uncover fraud and protect against fraud threats. So if you suspect fraud and possibly want to take a perpetrator to court, a forensic accountant can be critical.

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A Forensic Accountant As a Consultant

FraudFiles

Forensic accountants are often retained in litigation as expert witnesses, with the intention that they will provide expert opinions and testimony on behalf of the client. The forensic accountant maintains the file in that fashion for the purpose of “what if.”.

The Face of Forensic Accounting

FraudFiles

When you need to find lost or hidden money, forensic accountant Tracy Coenen is the detective you want on your side. Consider her a financial crime fighter: part accountant, part fraud investigator.

Forensic Accountants and Securities Fraud Cases

FraudFiles

In this video, Tracy Coenen talks about the securities fraud cases that might need the assistance of a forensic accountant. Public Companies Videos

Forensic Accounting for Construction Claims

FraudFiles

Tracy Coenen talks about the prevalence of fraud allegations related to construction projects and the work a forensic accountant can do in construction claims.

Big Firm Advantage in Forensic Accounting

FraudFiles

Contrast this with the risk of using a small law firm or forensic accounting firm. A small firm lawyer or accountant can have just as much knowledge as a big firm professional. Forensic AccountantWhen companies have big problems, they usually bring out the big guns. The benefits of using large law firms, audit firms, and other professional service firms are undeniable.

Data Sleuth: Using Data in Forensic Accounting Engagements and Fraud Investigations

FraudFiles

It’s time pre-order the most valuable fraud investigation and forensic accounting book you will ever read. I had the privilege of previewing Leah Wietholter’s book Data Sleuth: Using Data in Forensic Accounting Engagements and Fraud Investigations.

An Example of a Forensic Accountant Finding Fraud in a Divorce

FraudFiles

about a divorce case of his in which a forensic accountant was able to find significant financial frau. Divorce and Family Law Forensic Accountant VideosTracy Coenen talks with Miles Mason, Esq.

Big Firm Advantage in Forensic Accounting Services

FraudFiles

Contrast this with the risk of using a small law firm or forensic accounting firm. A small firm lawyer or accountant can have just as much knowledge as a big firm professional. When companies have big problems, they usually bring out the big guns.

AICPA Announces New Professional Standards for Forensic Accounting Service Providers

Katz,Sapper&Miller

While all CPAs must abide by the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct (which requires professional competence, due professional care, planning and supervision, and sufficient relevant data), no statements on an authoritative standard existed specifically for those providing forensic services

The Role of the Forensic Accountant in Trust and Estate Matters

Withum

Articles

How Forensic Accountants Can Assist in False Claims Act (“FCA”) Litigation Matters

Withum

Articles

Using Lifestyle Analysis to Find Hidden Income and Assets

RogerRossmeisl

Forensic accountants have many tools to help them find evidence of hidden assets or fraud. Financial profiling Forensic accountants develop a financial profile of a subject by examining: Bank deposits.

Construction Fraud Cases

FraudFiles

What kinds of things can forensic accountants be involved in relative to construction fraud? Hear more in this video: When a construction project is delayed, the forensic accountant may be retained to calculate the losses due to the delay. Forensic Accountant Videos

How Do I Calculate Fixed Fees

FraudFiles

How do I come up with a fixed fee for a forensic accounting engagement? Forensic AccountantI’ve been doing fixed fees for almost 23 years, so I’ve developed a pretty good formula. With a fixed fee, a client is paying for a result, rather than buying my time.

Fraud Investigation for Small Firms

FraudFiles

The growth in forensic accounting and fraud investigation specialties has led accounting firms of all sizes to expand their practices to these areas. Is it as easy as it sounds to add forensic accounting to your firm’s competencies? Forensic Accountant

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Wage Loss Damage Calculations

FraudFiles

Forensic Accountant VideosTracy talks about calculating damages for wage losses. These situations may include wrongful termination, wrongful death, or time lost from work due to an accident. She gives a helpful list of the types of damages that might be included.

Why Clients Work With Me

FraudFiles

I’m the forensic accountant who will do all the work on their project. They don’t have to worry about someone inexperienced learning the art of forensic accounting on their dime or possibly even botching their case. Forensic Accountant

Questions for New Clients

FraudFiles

What do you need me to do – Are they really in need of a forensic accountant, or do they need someone else, like a private investigator? Forensic AccountantWhat questions do you ask a new potential client?

Tracy on the Where Accountants Go Podcast

FraudFiles

Yesterday I appeared on Mark Goldman’s “Where Accountants Go” podcast. Mark owns MGR Accounting Recruiters , a company that matches employers with job seekers in the accounting and finance arena. Forensic Accountant Podcasts

Expert Witness Rebuttal Reports

FraudFiles

My favorite part of being a forensic accountant is rebuttal reports. The methods used to calculate the numbers are not widely accepted or used in the accounting profession. Forensic Accountant

Small Fraud Investigation Firms

FraudFiles

Firms of all sizes are interested in expanding their practices to include forensic accounting and fraud investigation. Yet adding forensic accounting to a firm’s portfolio of services might not be as easy as it sounds. Forensic Accountant

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Dreams of Being a Prison Warden…

FraudFiles

And now I spend my days finding money as a forensic accountant! Forensic Accountant PodcastsHear the story of my dream of being a prison warden… that got derailed when I discovered financial investigations.

Using a Financial Expert in a Family Law Case

FraudFiles

In addition to these financial issues, an accounting expert could also play the following roles in family law cases: Assisting with settlement activities, evaluating the financial impact of a settlement offer, making certain calculations, and giving opinions on various settlement scenarios.

Controlling Litigation Costs with Fixed Fees

FraudFiles

What is the timeline for finishing the forensic accounting work? Most forensic accounting firms won’t do this for a client. I get down to work immediately and complete the forensic accounting engagement efficiently.

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Starting a Fraud Investigation (Course at CPA Crossings)

FraudFiles

Accountants, private investigators, risk management professionals, law enforcement officers. Financial Investigations Forensic Accountant cpa crossingsComing up on Thursday Oct. 15: Starting a Fraud Investigation course at CPA Crossings. This is a 2 hour online course. It is the second in a 4 part series on conducting fraud investigations, but don’t worry… the 4 courses can be taken individually and in any order. This session costs only $89 for 2 CPE credits.

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Becoming a Fraud Investigator (Course at CPA Crossings)

FraudFiles

It is jam packed with forensic accounting information, but it’s cheap at only $89 for 2 CPE credits! It’s getting you ready to perform a fraud investigation with information from a forensic accountant like: – Common workplace fraud schemes. Accountants, private investigators, risk management professionals, law enforcement officers. Financial Investigations Forensic Accountant cpa crossingsThis Thursday Sept.

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Don’t Try a Do-It-Yourself Fraud Investigation

FraudFiles

Financial Investigations Forensic AccountantWhen a business owner or executive encounters proof of a fraud-in-progress, a natural reaction is often to immediately begin investigating. After all, someone has to get to the bottom of the situation.

How-To Guide to Fraud Investigations Course (CPA Crossings)

FraudFiles

– Apply forensic accounting procedures to financial data. Accountants, private investigators, risk management professionals, law enforcement officers. Financial Investigations Forensic Accountant cpa crossingsComing up on Monday, October 19: How-To Guide to Fraud Investigations course at CPA Crossings. This is a 2 hour online course, and is the third in a 4 part series on conducting # fraud investigations.

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How Cash Flow Statements Help Experts Find Fraud

RogerRossmeisl

Forensic accountants generally look for amounts that seem unreasonable and for increases or decreases in accounts that seem to contradict trends in operating cash flows or other financial information. Many fraud investigations focus on financial statements.

To Prove Fraud, You Need to Preserve Evidence

RogerRossmeisl

In most cases, you should hand a fraud investigation over to your attorney and a forensic accounting expert. Prevention is the heart of any fraud mitigation program.

Net Worth Method to Prove Unreported Income

FraudFiles

Forensic accountants and fraud investigators can use the same method to calculate unreported income in other types of cases, such as divorce.

What to Expect During a Fraud Examination

Anders CPA

When a company suspects fraud may be happening, a forensic accountant is typically hired to investigate further through a fraud examination. It Is Not All “Accounting”. Anders has fraud and forensics advisors that take an empathetic and efficient approach to fraud examinations.

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Formats for Financial Data in Fraud Investigations

FraudFiles

How should your accounting records be provided to your forensic accountant? Tracy talks about how she wants to receive the general ledger and related data. Hint: Digital is preferred over paper.). Expert Witness Financial Investigations Videos

3 Ways Fraud Experts Use Data Analytics

RogerRossmeisl

Forensic accountants have long used technological tools to uncover fraud schemes. But recent advances in “big data” have provided even better, more efficient techniques for identifying suspicious activities and dishonest employees.

Getting the Goods on Inventory Theft

RogerRossmeisl

A forensic accountant can assist in getting the goods on inventory theft. Maybe the numbers didn’t add up during your company’s recent inventory count.

The Interview Before the Fraud Interview

RogerRossmeisl

When Anna, the CEO of a small manufacturing company, received an anonymous report about fraud in the accounting department, she wasn’t sure how to act. She called her company’s attorney, who recommended a forensic accountant to investigate.

Introducing the Divorce Money Guide

FraudFiles

In case you haven’t heard, I created the Divorce Money Guide to make forensic accounting more accessible to people getting divorced.

Something’s Wrong in your Office. Is it Fraud?

RogerRossmeisl

But when fraud is occurring, it usually leaves traces — for example, accounting anomalies — for fraud experts and other knowledgeable people to find. Not all red flags lead to active occupational fraud schemes.

Bank Statements in a Divorce

FraudFiles

When there are suspicions of hidden income or secret investments or bank accounts, an analysis of known bank accounts can reveal helpful details. Tracy Coenen explains how bank statements and credit card statements can be used by a forensic accountant in a divorce or child support case.

Being an Expert Witness in Criminal Defense Cases

FraudFiles

Defendants in criminal cases such as tax fraud, money laundering, or embezzlement often need forensic accountants to help evaluate complex financial situations.

Put Employees to Work Fighting Fraud

RogerRossmeisl

Training is critical A forensic accountant can conduct on-site, broad-based training for employees in the form of live or virtual presentations.