You Are Here: Home » Forensic Accounting

The Forensic Accounting Academy™ (Academy), offered by the Consultants’ Training Institute, is the most all-inclusive training in forensic accounting available to date.  The intensive and hands-on, four-day Academy provides a one-stop source of 300+ tools, techniques, methods, and methodologies applicable to virtually any large or small financial matter, whether civil, criminal, or dispute, and defines the financial forensics/forensic accounting profession: “The Art & Science of Investigating People & Money©.”

The Role of Forensic Accountants in Measuring and Detecting Fraud

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 fir ...

Read more

Small Business Valuations

Using Forensic Accounting Valuing the small business is how most valuators earn their living. These small businesses pose as much issues to valuation professionals as they do for tax, accounting, and legal professionals by providing these entities with advice. The issues are wide-ranging, and the purpose of this article is not to patronize small business owners; rather, the purpose of this article is to dis ...

Read more

Hidden Income and Assets

A Forensic Accountant’s Process The purpose of this article is to explain how forensic accountants look at the big picture, both financially and by understanding past behaviors, to uncover items that may help you or your client. The author shares that some of his biggest “wins” in fraud investigations started with broad allegations; however, the techniques used to identify and quantify these allegations wer ...

Read more

The Importance of Forensic Accounting

Analysis in Matrimonial Matters As forensic accountants, we may be called upon to determine the value of the marital estate. Frequently, we either receive an avalanche of documents or very few documents. How do we distinguish what is valuable versus what is not? Why is the information so important in our forensic analysis of the case? In this article, the author answers these questions and shares her experi ...

Read more

The Value of Using the Services of a Forensic Accountant in Legal Matters

Engage and Assist Legal Counsel It is critical that the right person with the right expertise, training, and background be selected. This article will describe the various areas of specialization in which a forensic accountant performs, how counsel should select the right professional for the job, and the benefits of using a forensic accountant. ...

Read more

Selecting the Right Forensic Accountant

Can Effect the Outcome of a Case One of the most critical decisions practicing attorneys have to face is the selection of a forensic accountant. The specialized training and expertise of forensic accountants and the role they play, either as consultants or as expert witnesses, can make the difference in the final outcome of a case. However, it is critical that the right person with the right expertise, trai ...

Read more

Forensic Techniques

As a Fraud Deterrence Tool Trained forensic professionals investigate accounting and financial transactions that are, or will become, subject to legal proceedings. It is an early step in a potential war, and many times it is the first shot. Attorneys and c-level executives are often not familiar with forensic techniques and see it as a means to quantify a loss. Financial forensics also provides a means to d ...

Read more

Confronting Corruption

Corporations globally are faced with the complex problem of corruption, states Ravi Venkatesan in “Confronting Corruption” in McKinsey Quarterly.  It takes many forms, and perpetrators are skilled in developing new ways to be corrupt and cover their tracks. In corporations, there are multiple types of corruption, including bribes, extortion, speed money, and employee fraud.  The first steps into anti-corrup ...

Read more

Cyber Security Breaches Up 48 Percent in 2014

According to the Global State of Information Security Survey 2015 sponsored by PwC, the total number of reported cyber security breaches reported this year jumped 48 percent totaling 42.8 million new occurrences. That’s equivalent to 117,339 successful security attacks happenings per day. In addition, the compounded annual growth rate of detected security breaches has increased by 66 percent every year sinc ...

Read more

PCAOB (AS) No. 18, Related Parties Explained

  The PCAOB recently issued Auditing Standard (AS) No. 18, Related Parties to strengthen auditor performance in the high-risk areas of significant unusual transactions and financial relationships, and transactions with executive officers. The change comes as the result of an internal review where the PCAOB felt the existing protocol did not contain sufficient procedures and was not properly risk-based. ...

Read more

PCAOB Targets Crony Disclosures

  The Public Company Accounting Oversight Board (PCAOB) has beefed up its requirement for auditors to clarify the nature of relationships and transactions between related parties. The new standards were instituted by the PCAOB to counteract a number of factors that it felt were contributing to financial fraud. Ultimately, the intention is to help companies avoid financial failure and reduce harm to inv ...

Read more

Was it Greed or Ignorance?

Forensic professionals endure trench warfare Discovery provides a window of opportunity to gather evidence and develop expert reports. A trained forensics professional can ascertain whether cash deposits were all accounted for or secreted. It is advisable and well worth the time, trouble, and money to retain a forensic professional to conduct an analysis. ...

Read more

Every Picture Tells a Story1

Use of photography in forensic and valuation engagements The purpose of this article is to provide the CPA/expert a brief introduction to the use of photography in a valuation or forensic engagement. It is not intended to be an all-inclusive training manual in forensic photography. Criminal forensic photographic procedures may, due to the differences between civil and criminal law, be materially different. ...

Read more

Grant Thornton Survey: Regulation Overwhelming Auditors

In a recent Grant Thornton survey, more than two thirds (69 percent) of internal audit professionals say they’d love to focus on strategic risks, but regulatory compliance duties and the rising costs they incur are getting in the way. An additional 36 percent said these obstacles prevent resources from being allocated to higher-value priorities. Since almost the beginning of the recent financial global cris ...

Read more

Forensic Accounting Board Resigns

All members of the American Board of Forensic Accounting, the advisory board behind the American College of Forensic Examiners Institute’s (ACFEI) Certified Forensic Accountant credential have recently resigned. The unanimous resignation comes amid questions about the legitimacy of the credential and the organization, as a whole. According to accountingtoday.com, the board resigned en masse after learning f ...

Read more

Bank Failures and Forensic Accounting

In an interesting interview with the Risk & Compliance Journal, David Hoffman, forensic accountant and managing director at Acuitas, Inc. discusses the status of the lawsuits that resulted from the bank failures that occurred in the years following the economic crisis of 2008. At the close of 2013, there were 81 lawsuits involving 127 different banks. Hoffman discusses his role as a forensic investigator in ...

Read more

Incentives for Auditors to Tell the Truth

In an opinion piece for The New York Times, M.I.T economics professor, Michael Greenstone, examines the parallels between Enron, the corporate accounting scandals of the early 2000’s and the sub-prime mortgage crisis/Great Recession of present day.  Greenstone points out that the biggest similarity and ethical hurdle in both scenarios is the fact that auditors were hired and paid for by the very firms they ...

Read more

©2024 NACVA and the Consultants' Training Institute • Toll-Free (800) 677-2009 • 1218 East 7800 South, Suite 301, Sandy, UT 84094 USA

event themes - theme rewards

Scroll to top
G-MZGY5C5SX1
lw