You Are Here: Home » Financial Forensics

Unlike most financial litigation training that tends to be general in scope, the Foundations of Financial Forensics Workshop, offered by the Consultants’ Training Instituteprovides attendees with an understanding of the professional responsibilities and legal underpinnings necessary to providing credible financial forensics services along with an overview of the highest growth areas of financial forensics practice.  The nationally recognized and seasoned financial forensic experts who teach the program also dive into the methodologies and approaches for calculating damages, financial investigative and forensic accounting techniques, skills development for communicating with judges, attorneys, and juries, and practice building strategies that are being employed by successful and emerging financial forensic analysts.

Common Fraud Red Flags

“I Should Have Known!” When you hear the news that someone was just arrested for committing fraud at their work, it is usually accompanied by fellow employees or managers saying one of two things. Either, “I never thought they were capable of stealing” or “I should have seen it coming.” Why do employers say that they “should have known” and how exactly is it that they should have known? In my experience, th ...

Read more

Analyzing Lost Earning Capacity for the Self-Employed

Income of Partners and Owners of Pass-through Entities (Part II of II) This is the second part of a two-part article where the author discusses the methodology for assessing the lost earning capacity of a self-employed person. This article provides an overview for analyzing the lost earning capacity of the self-employed and discusses why this category of work provides unique assessment situations. In this s ...

Read more

Lost Profits versus Lost Business Value

Differences Between the Two Values Damages remedies often focus on lost profits and lost business value, with such remedies typically calculated by financial experts. There continues to be a trend in the courts to preclude experts from testifying, or to disregard them altogether because their opinion does not meet the reasonable certainty standard. Either of these outcomes can be a devastating result for th ...

Read more

Including Causation in a Lost Profits Analysis

The Danger of Not Considering Other Potential Sources of Harm To recover lost profits in commercial damages litigation, three standards must be met: proximate cause, foreseeability, reasonable certainty. While all three are important, proximate cause does not always receive a great deal of consideration among experts. Although the question of causation is generally left to the trier-of-fact, financial exper ...

Read more

Mr. Unlucky—A Construction Worker Injured Twice On-site

Tell-tale Signs that the Engagement is Risky This article describes, using a purely hypothetical scenario, some of the considerations that an economic damages expert should be aware of during initial telephone calls with a prospective retaining counsel—in order for a lost earnings engagement to proceed effectively and efficiently—and to control engagement risk. ...

Read more

Interviewing Skills and Techniques

Effective Interview Planning in a Fraud Investigation This article is a republication of Chapter 10 of The Corporate Fraud: The Executive’s Survival Guide, authored by Ray Dunkle of Red Flag Reporting. This article features the chapter written by James I. Marasco, CPA, CIA, CFE. In this chapter, Mr. Marasco addresses the proper approach for conducting interviews. This includes what type of questions to ask, ...

Read more

Can Forensic Experts Overcome Their Biases?

Is Recognizing Cognitive and Motivational Biases Enough? The National Academy of Sciences reported that bias is a severe problem in forensic sciences. Cognitive biases were described as, “common features of decision making, and they cannot be willed away.” Is recognizing bias, alone, sufficient to address cognitive, motivational or other biases? What can a forensic expert do to avoid the bias trap? In this ...

Read more

Compliance

A Meaningful New Year’s Resolution Why is compliance so important to business? What are the reasons and consequences for failing to have a compliance program? In this article, Peter J. Comodeca, Esq. with the law firm of Calfee, Halter & Griswold, LLP discusses the legal reasons to comply and costs of failing to comply. ...

Read more

Taking a Deeper Look into Momentive, Part 2

Why the Choice Between Prime and Treasury Rate Matters Many bankruptcy practitioners have focused on the recent decisions in Momentive[1] that forced secured creditors to refinance prepetition loans at below market interest rates.  Most of these practitioners’ publications focus on the courts’ findings and the potential implication on future matters.  However, three interesting questions are not addressed i ...

Read more

Financial Abuse of the Elderly: Sometimes Unnoticed, Always Predatory

Financial Abuse of Seniors Could Grow as the Population Ages As more people enter their golden years, they become increasingly susceptible to financial fraud and financial elder abuse, especially if their mental faculties start to decline.  This article looks at the case of an 86 year old Seattle widow bilked out of much of her savings and how easily it can happen. To find out more about The New York Times ...

Read more

Internal Profiling for Fraud

How to Apply Survey Data to Your Company, using K-means Clustering We are in an age when fraud statistics and the individual profiles of those committing the fraud are at an all-time high. How does a firm identify factors that will enable the firm to understand the risk? The Association of Certified Fraud Examiners (ACFE) annual fraud survey—readily available for free—provides valuable insight to prevent fr ...

Read more

Terms of Art

Understanding the Language of Chapter 11 Cramdown This article will examine terms of art used in a Chapter 11 cramdown. These terms go hand in hand during a contested or cramdown hearing. The court will work to assure that the bankruptcy definition of these terms is met before confirming a plan. Any expert expecting to testify at a cramdown hearing should have a working knowledge of their meaning. ...

Read more

Every Divorce Should Include a Lifestyle Analysis

Full Disclosure to Equitably Settle Marital Disputes An important step in the divorce process is reviewing and disclosing financial matters. In this step, both parties are typically required to prepare and sign their respective financial affidavits. In matrimonial matters, a financial affidavit represents a sworn written statement of a spouse’s assets, liabilities, income, and expenses. The information disc ...

Read more

Fraud Risk Assessments

The Annual Audit Does not Identify Operational and Financial Risks According to the Association of Certified Fraud Examiners’ (ACFE) 2014 Report to the Nations on Occupational Fraud and Abuse, an estimated 5% of revenues each year are lost to fraud. What processes can management put in place to identify financial and operational risks? In this article, the author shares his experience and thoughts on that q ...

Read more

Recovery of Hidden Assets Offshore 101

The global nature of today’s economy makes the process of recovering the assets of fraud and other business crimes all the more difficult. The legal benefits provided by different jurisdictions are often used illegitimately by individuals to hide the proceeds of fraudulent activities, making it more difficult for the victims of fraud to recover their assets. In this article, Eric Rein discusses the strategi ...

Read more

Unique Issue in Standards for Distressed Business Valuation

Part 2: AIRA Issues New Standards for Distressed Business Valuation In this second article on AIRA Standards, the author discusses unique issues valuing distressed companies. These include the standard of value used, the premise of value, the intended use of the valuation, and cost of capital. The author also discusses the use and level of acceptance of the Industry Risk Premium (IRP) in the bankruptcy/reor ...

Read more

Standards for Distressed Business Valuation

AIRA Issues New Standards for Distressed Business Valuation In 2004, The Association of Insolvency & Restructuring Advisors (AIRA) launched the Certification in Distressed Business Valuation (CDBV). Before the inception of the CDBV program, there was no professional designation to recognize those skilled and experienced in distressed business valuation work or expert valuation testimony in bankruptcy li ...

Read more

Divorce

The Trouble for the Innocent Spouse with the IRS and State Tax Authorities Spouses that unwittingly sign a state or federal tax return may be held joint and severably liable for underpaid taxes. The expanded innocent spouse relief provides potential relief, but that relief takes time and requires extensive documentation. ...

Read more

©2017 NACVA and the Consultants' Training Institute • (800) 677-2009 • 5217 South State Street, Suite 400 Salt Lake City, UT USA 84107

event themes - theme rewards

UA-49898941-1
lw