• Financial Forensics - QuickRead Top Story - Valuation/Appraisal

    The January Hangover: A 10-Day Fraud Detection Sprint That Protects Business Value

    January 28, 2026

    It is important to not only establish next steps but attempt to blur the line between fraud-driven forensic investigations and valuation to provide the connective tissue; explaining how they overlap resulting in misleading valuation calculations. In this article, the author shares a 10-day fraud detection “sprint” to identify the reliability of earnings and balance sheet integrity. This past December, I authored a short article titled, “’Tis the Season (for Fraud): How Businesses Can Be On-Guard”[1], which discussed many of the tactics that are employed by fraudsters during those chaotic periods such as years-end and during the holidays when that “let’s…

  • Financial Forensics - QuickRead Top Story

    First Brands: Joined by More Cockroaches

    December 10, 2025

    The recent collapses of First Brands, Tricolor, and other financially distressed companies remind appraisers that inaccuracies in financial reporting can impact the credibility of the calculation or conclusion of value. When industries undergo rapid change, the appraiser’s role could be not only to interpret market data, but also to verify the truth of the financial foundation upon which that data rests. This author shares when and why a forensic accounting engagement is advisable before preparing a business valuation. Introduction Recent news about cockroaches includes pest-related issues like an infestation at a Florida cafe and a San Jose restaurant that was…

  • Financial Forensics - QuickRead Top Story

    First Brands and the Cockroach Theory

    November 19, 2025

    The recent bankruptcies of First Brands, a large auto parts supplier, and Tricolor, a car dealership chain, have renewed concerns about lending practices more than two years after the collapse of Silicon Valley Bank. That earlier failure was driven by rising interest rates that reduced the value of its bond holdings and caused panic across the banking sector.  Appraisers may regard these as isolated instances rather than evidence of a broader financial crisis. Either way, the author proposes that business valuation professionals should consider these issues when completing current business valuation engagements. Introduction MSN[1] recently quoted JPMorgan Chase CEO Jamie…

  • Financial Forensics - Litigation Consulting - QuickRead Top Story

    The Evolution of Fraudulent Schemes: Increased Misuse and Sophistication of AI to Commit Digital Fraud

    July 16, 2025

    The level of sophistication used by fraudsters continues to increase. Fraudsters are using voice recognition and voice swapping, as well as other generative AI tools that continue to evolve. It is critical to constantly reassess internal controls and understand how AI is used and misused. In this article, the author shares some of the schemes used and issues a challenge to entities as well as to accounting and fraud examiners. At this point, the idea of artificial intelligence (AI) generating content is nothing new. You have likely seen plenty of videos and pictures of AI-generated content on Facebook, YouTube, etc.…

  • Litigation Consulting - QuickRead Top Story

    Why Strong Internal Controls Are Essential: For Preventing Fraud and Driving Business Growth

    June 25, 2025

    The importance of strong internal controls cannot be overstated. They form the foundation for financial integrity, operational efficiency, regulatory compliance, and, ultimately, long-term business success. This article explores how strong internal controls not only safeguard against fraud but also serve as a catalyst for business growth and sustainability. In today’s fast-paced and evolving business environment, the importance of strong internal controls cannot be overstated. Most business owners and managers associate internal controls with fraud prevention and detection. However, effective internal controls serve a much broader purpose. They form the foundation for financial integrity, operational efficiency, regulatory compliance, and, ultimately, long-term…

  • Litigation Consulting - QuickRead Top Story

    From Forecast to Flawed Assumptions and a Speculative Basis: Court Dismisses Accounting Expert’s Testimony in Packaging Lawsuit

    June 4, 2025

    Daubert motions are commonly raised to exclude experts. In this article, the author underscores the importance of questioning a client’s representations and documenting the basis for damages calculations. The failure to do so exposes the expert to challenges on the basis that the opinion is flawed because it is based on speculation and questionable assumptions. Bon Appetit Danish and Bon Appetit Specialty Snacks, renowned for their baked goods across Los Angeles and beyond, sought to streamline their packaging process through automation. The goal was to modernize the wrapping of items like donuts, muffins, breads, and cakes using advanced equipment. In…

  • Financial Forensics - QuickRead Top Story

    Is Bitcoin a Ponzi Scheme According to Charles Ponzi? Conversations with ChatGPT

    May 28, 2025

    In this article, the author discusses the conversation she had with ChatGPT regarding Bitcoin and Ponzi schemes. This question has been around nearly as long as Bitcoin itself (without the Charles Ponzi qualifier). How could I have a conversation with Charles Ponzi? Perhaps ChatGPT has ingested enough material about the historical figure to do it for me. I initiated a new conversation with ChatGPT and asked, “Is Bitcoin a Ponzi scheme?” The short answer it gave was no and the model provided some reasons but they are boring. I then responded, “Give me more specific answers designed for a legal…

  • Litigation Consulting - QuickRead Top Story

    Price Isn’t Right: Inside the Expert Battle Over Kroger’s Pharmacy Discounts

    May 7, 2025

    What does “usual and customary price” mean? How does a plaintiff challenge such a broad assertion in a class action? What will a defendant assert to discredit a plaintiff’s expert? This article discusses the Daubert motion brought forth in Kirkbride v. The Kroger Co. and provides notice to how a challenge may unfold in other class action suits that have a similar underlying claim(s). In a closely watched ruling, a federal court allowed expert testimony to proceed against Kroger over claims it concealed lower prescription prices. At the center of it is a deceptively simple term, “usual and customary price”…

  • Practice Management - QuickRead Top Story

    Data Privacy for the Future: Strategies to Limit Digital Risk and Liability

    February 26, 2025

    In this article, the author looks back at predictions made in the 2014 Pew Research. Reflecting on this study, it becomes self-evident that we understand what the problems are, and, perhaps, we even have good ideas of how to tackle these problems. Therefore, the issue is not necessarily “finding a solution” but rather, having the will and desire to implement a solution. Introduction A person’s perspectives and perceptions towards a problem drives the approach taken to solve that problem. Managing data privacy challenges are no different. Therefore, to address today’s issues, it is a worthwhile exercise to review some past…

  • Financial Forensics - QuickRead Top Story

    New Frontiers in Financial Forensics

    March 4, 2024

    Part III in a Series Addressing Advances in Forensic Accounting and Financial Forensics Those working to manage valuations and investigate fraud are seeing the impact of two trends that emerged in 2023: an increasingly tight labor market and the advancement and adoption of new technologies. The reality is as we enter 2024 and the workforce continues to shrink, the implications of these new technology innovations will only continue to grow. The author shares his views on how the innovation will impact the valuation and forensic professions. Those working to manage valuations and investigate fraud are seeing the impact of two…

  • Financial Forensics - QuickRead Top Story

    Detecting Fraud Using Emerging Technology

    January 17, 2024

    Do Not Be Afraid to Innovate This article focuses on how advances in AI and machine learning can aid forensic investigations procedures and further bring the detection of fraud and other financial crimes into the digital age. Introduction In today’s rapidly evolving digital landscape, fraud and financial crime have become an increasingly complex and pervasive issue for organizations, big and small, global, and domestic. Fortunately, advanced technology and artificial intelligence (AI) have emerged as invaluable tools in the fight against malfeasance. By leveraging sophisticated algorithms, data analytics, and machine learning capabilities, combined with traditional forensic accounting principles, these technological advancements…

  • Financial Forensics - QuickRead Top Story

    Essential Steps for Protecting Your Company in a Fraud Investigation

    January 10, 2024

    Embrace a Systematic Approach Fraud is a pervasive issue that affects businesses, organizations, and individuals across various industries. Often, an organization is surprised to find itself a victim of fraud, especially when the perpetrator is a trusted employee. This article details the first steps a company should take when initiating a fraud investigation, what experts will be necessary to uncover illicit behavior, and what parties need to be notified. Introduction Fraud is a pervasive issue that affects businesses, organizations, and individuals across various industries. Often, an organization is surprised to find itself a victim of fraud, especially when the perpetrator…

  • Financial Forensics - QuickRead Top Story

    The Role of Forensic Accountants in Measuring and Detecting Fraud in Employee Loss Claims

    October 12, 2022

    With Examples From Asset Misappropriation to Financial Statement Fraud (Part II of II) This two-part article (Read Part I here) focuses on the two significant, but different, roles forensic accountants play in quantifying employee losses and how—in the normal course of the analysis—they may find instances of fraud that require further investigation. The authors first provide detailed guidance for forensic accountants in how to quantify employee losses and later offer insights into behavior that may indicate fraud stemming from such claims. They also explain the factors considered by carriers when hiring external accountants. The second part of the article features…

  • Financial Forensics - QuickRead Top Story

    The Role of Forensic Accountants in Measuring and Detecting Fraud in Employee Loss Claims

    October 5, 2022

    With Examples From Asset Misappropriation to Financial Statement Fraud (Part I of II) This two-part article focuses on the two significant, but different, roles forensic accountants play in quantifying employee losses and how—in the normal course of the analysis—they may find instances of fraud that require further investigation. The authors first provide detailed guidance for forensic accountants in how to quantify employee losses and later offer insights into behavior that may indicate fraud stemming from such claims. They also explain the factors considered by carriers when hiring external accountants. The second part of the article features two cases studies involving…

  • Forensic Accounting - Litigation Consulting - QuickRead Top Story

    The Role of Forensic Accountants in Measuring and Detecting Fraud

    July 6, 2022

    in Inventory Loss Claims Insurance claims for loss of inventory are generally examined by insurance carriers. The carrier will retain a forensic accountant who has the ability to quantify out of sight inventory losses. Out of sight inventory losses occur when the accountant is not able to physically count the damaged inventory. These types of inventory losses include, but are not limited to, damage from fires, floods, and theft. This paper focuses on the two significant, but different, roles forensic accountants play in quantifying the inventory loss and how—in the normal course of the analysis—they may find instances of fraud…

  • Financial Forensics - QuickRead Top Story

    The Role of Forensic Accountants

    May 25, 2022

    in Detecting Fraud in Business Interruption Claims (Part I of II) Business interruption claims are generally closely scrutinized by insurance carriers and can range from thousands of dollars to claims exceeding $100 million. Insurance carriers often seek the assistance of either internal or external forensic accountants to analyze such claims. During their analysis, forensic accountants often detect the possibility of fraud in a claim, prompting further investigation by the carrier. This two-part article details the role forensic accountants play in identifying and analyzing fraud in business interruption claims and explains the considerations by insurance carriers when hiring external accountants. Introduction…

  • Financial Forensics - QuickRead Top Story

    Decrypting Coinbase Accounts

    May 18, 2022

    A Guide for Forensic Analysts As cryptocurrencies become more mainstream, it is vital for forensic analysts to understand and analyze digital currency data. Forensic analysts are increasingly being brought in to trace and help recover crypto assets in criminal matters, such as money laundering and other fraud prosecutions. There is also a noticeable increase in the use of forensic analysts in civil litigations, which can range from contested divorces to probate and bankruptcy cases. This article focuses on how to trace and recover crypto assets using one of the major exchanges as the example. Coinbase is an online cryptocurrency exchange…

  • Financial Forensics - QuickRead Top Story

    Rationalization and Concealment

    May 11, 2022

    Signs of Ethical Deterioration The 21st century has brought not only the worst pandemic in over 100 years, but also an alarming deterioration in ethical culture. We see examples of this in the types of fraud being perpetrated, as well as in the behavior of elected officials, athletes, business owners, and wealthy parents of students. Where is this trend headed, and can it be reversed? In this article, the authors discuss how perpetrators rationalize, how financial fraud is concealed, and ways to combat fraudulent behavior. The 21st century has brought not only the worst pandemic in over 100 years, but…

  • Financial Forensics - QuickRead Top Story

    Food v. Fraud

    August 18, 2021

    Fraud Issues in the Hospitality Industry Post-COVID-19 Pandemic The hospitality industry is already experiencing an increase in fraud, and everyone associated with the business—including operators, owners, managers, employees, and even guests—is at risk of being affected. In this article, the author identifies areas of fraud and provides recommendations to mitigate risk.  As a self-proclaimed foodie, I am excited that we will once again be able to go to restaurants and hotels. However, as a forensic accountant I am concerned for the hospitality establishments that, of necessity, focused on sustaining business and staff over back-office matters such as internal financial controls.…

  • Financial Forensics - QuickRead Top Story

    Elder Fraud

    July 14, 2021

    Risks in a Post Pandemic Environment The pandemic placed many individuals into an environment where they had to rely on technology to conduct daily life and the financial transactions associated with it. This was a major change; especially for a generation that was accustomed to handling their banking and financial transactions face to face. Forcing a generation to begin to conduct banking and purchasing online while utilizing sensitive information has increased the risk of fraud as it relates to “elder” individuals. This article discusses some of the trends emerging leading to elder abuse. The pandemic placed many individuals into an…