Forensic Audits are Trending
The demand for forensic auditing services is soaring during our ongoing Covid-19 pandemic. In the space of Certified Public Accountants (CPA) service offerings, forensic auditing is a recognized tool for detecting and preventing fraud or financial crimes. Keep in mind
- Foodman website and JD Supra
How is your Organization’s Performance with Respect to Fraud?
US Regulations including the Foreign Corrupt Practices Act (FCPA), Sarbanes-Oxley Act and Anti-Bribery legislation require that Management in a business have a zero tolerance for fraud and have an Audit Committee in place that will establish the procedures for receipt
- Foodman website and JD Supra
Forensic Accountants augment a Financial Institution’s Corporate Governance Program
A financial institution’s understanding and management of financial crimes and their genesis would enhance and strengthen its Corporate Governance programs and internal controls. Forensic Accountants with a law enforcement background and with an understanding of the provisions of the Bank
- Foodman website and JD Supra
IRS Agents Use Methods of Proof
The IRS has tools inside of its Internal Revenue Manual (“IRM”) available to its agents for determining a Taxpayer’s taxable income as well as documenting its adjustments and corrections through what it calls “Methods of Proof”. The IRM describes seven
- Foodman website and JD Supra
A Forensic Accountant digs beneath the surface and finds what is missing
The decision to hire a Forensic Accountant can be a gamble. Not all possess critical characteristics such as being able to see beyond what is immediately in front of them utilizing a panoramic approach. Traditionally, a CPA looks at historical
- Foodman website and JD Supra
Working together, Attorneys and Forensic Accountants Can Bring About Optimal Solutions
There is a value added for a client when an Attorney is working in tandem with a forensic accountant. Litigation often involves overlapping complex accounting and legal issues. Working together, Attorneys and Forensic Accountants can bring about optimal solutions. Clients
- Foodman website and JD Supra
Trabajando juntos, los abogados y los contadores forenses pueden brindar soluciones óptimas
Existe una propuesta de valor presentable a un cliente cuando un abogado trabaja en conjunto con un contador forense. Los litigios a menudo implican la superposición de múltiples y complejos asuntos legales y contables. Trabajando juntos, los abogados y los
- Foodman website and JD Supra
Un Contador Forense que lleva el componente de investigación a un asunto en cuestión puede darle una ventaja a un Abogado
Presentar los resultados de una manera fácil de entender es algo que uno debe esperar que un contador forense ponga en práctica. El conjunto de habilidades de un contador forense puede proporcionar una ventaja significativa al tomar datos financieros complejos
- Foodman website and JD Supra
A Forensic Accountant Bringing the Investigative Component to a Matter at Hand, Can Give an Attorney an Edge
Presenting results in an easily understood manner is something one must expect a forensic accountant to bring to the plate. The skill set of a forensic accountant can provide a significant advantage by taking complex financial data and putting it
- Foodman website and JD Supra
Are you Managing your Fraud Risk Proactively?
Managing fraud risk proactively is imperative. It is not only about protecting against financial losses commonly associated with fraud. It is also about surviving reputational risk. There is a need for Organizations to create an environment and implement appropriate controls
- Foodman website and JD Supra
Forensic Accountants Should Be an Integral Component of PPP Loan Audits
The published goal of the Paycheck Protection Program (PPP) loan program is to assist small businesses to remain open during the Covid-19 crisis and to reduce the rate of unemployment. The loans provide a direct incentive for small businesses to
- Foodman website and JD Supra
Fraud is Everywhere. The IRS is looking for it and the Forensic Accountants are right behind them
The Internal Revenue Manual defines fraud as a “deception by misrepresentation of material facts or silence when good faith requires expression, which results in material damage to one who relies on it and has the right to rely on it.
- Foodman website and JD Supra