• Financial Forensics - QuickRead Top Story

    Recalibrating the Destabilized U.S. Property Insurance Industry: Navigating Climate Risks, Financial Forensics, and Innovative Solutions

    July 9, 2025

    Forensic accounting plays a crucial role in modernizing climate risk insurance models. As climate change intensifies extreme weather events, insurers are struggling to accurately price risk, detect fraudulent claims, and maintain financial stability. This article explores how fraud, forensic accounting, and innovative risk management practices intersect with these challenges, while examining alternatives to traditional property insurance and the global implications of climate change. The effects of global warming and climate change are increasingly evident, with extreme weather events, rapid-onset, and slow-onset, wreaking havoc across the globe. In the United States, localized catastrophes like hurricanes, wildfires, and flooding have led to…

  • Healthcare - QuickRead Top Story

    The Perfect Healthcare Storm: Budget Cuts, Payment Freezes, and Tariffs

    July 2, 2025

    In an attempt to continue tracking the latest actions of the federal government’s legislative and executive branches affecting the healthcare industry since the last article was released in March, this article summarizes recent events in Washington and the impact of these changes on providers and patients. During the early months of the Republican Party’s government trifecta (controlling the White House, Senate, and House of Representatives), both the Trump Administration and Congress have laid the groundwork for seismic change to the U.S. healthcare industry. In an attempt to continue tracking the latest actions of the federal government’s legislative and executive branches…

  • QuickRead Top Story - Valuation/Appraisal

    Tariffs and Uncertainty: Dissecting the Impact on Valuation Drivers

    July 2, 2025

    What impact, if any, will the imposition of tariffs have on the valuation of assets? How will the imposition of tariffs impact modeling? In this article, the author shares his thoughts on the various factors and industries that valuation professionals must weigh to prepare a valuation. Economic Uncertainty in Valuation Economic uncertainty arises when key macroeconomic indicators—such as GDP growth, interest rates, and fiscal policies—become unpredictable. This unpredictability reduces the accuracy of forecasts and limits visibility into future performance. For valuation professionals, it complicates the modeling of cash flows and expands the range of reasonable valuation outcomes, making assessments more…

  • QuickRead Top Story - Valuation/Appraisal

    Essential Factors in Deciding

    June 25, 2025

    Whether to Establish an ESOP Not all companies are fit for an ESOP. The decision to create an ESOP is a significant one, and it requires careful evaluation beyond enthusiasm or the appeal of tax deferral. Two critical considerations stand out when evaluating whether to move forward: (1) independence of the valuation expert, and (2) whether the company is operationally, financially, and structurally suited for ESOP ownership. The author discusses the consequences of sponsoring an ESOP. For many closely held business owners, the question of succession planning often leads to consideration of an Employee Stock Ownership Plan (ESOP). ESOPs offer…

  • Litigation Consulting - QuickRead Top Story

    Why Strong Internal Controls Are Essential

    June 25, 2025

    For Preventing Fraud and Driving Business Growth 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,…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Exploring the Narcissist’s Playbook of Financial Games

    June 17, 2025

    From a Forensic Expert’s Perspective The authors share personal stories regarding the challenges they have faced in cases that involve people with diagnosed and undiagnosed narcissists disorders. Men and women with this disorder are especially challenging and the authors share what they have learned to mitigate the damage a person with this disorder may have in a case. My (Michele’s) path into the world of divorce finance did not begin with spreadsheets, balance sheets, or courtrooms—it began with my own personal experience. Like many others in this field, my journey was shaped by real-world challenges, which gave me the passion…

  • Practice Management - QuickRead Top Story

    How Do You Come Up with a Price?

    June 17, 2025

    It is About Solving the Dollar Value Problem How do you price your business valuation engagement? What about a litigation support engagement? In this article, Rod Burkert discusses how to value your professional engagements. Let’s talk pricing. Specifically, why do we struggle to price the value of a business valuation? Or a forensic accounting assignment? Or the mother of all unknowns, a litigation support project? What makes, say, a $10,000 engagement worth $10,000? Let me give you two reasons why it is not worth $10,000. Your Hours Worked It is not worth $10,000 if you base your price/client cost on…

  • Litigation Consulting - QuickRead Top Story

    Calculating Personal Damages

    June 11, 2025

    A Review of the U.S. Supreme Court’s Pfeifer Decision For those interested in working in the personal damages area, a review of the U.S. Supreme Courts’ Pfeifer decision is essential. It provides a great outline as to what the courts expect from an expert’s work. This article reviews the Pfeifer decision and the Fifth Circuit Court of Appeals’ Culver II decision, which expands on the definitions for discounting methods approved by the U.S. Supreme Court.   The field of litigation support provides a wide range of options for accounting and financial experts to work. Opportunities abound for work in the…

  • QuickRead Top Story - Valuation/Appraisal

    The Macroeconomics of U.S. Tariffs, Global Retaliation, and Shifting Trade Dynamics

    June 11, 2025

    Impact on Business Valuations Tariffs have long served as a tool for national governments to protect domestic industries, correct trade imbalances, or as leverage in international negotiations. This article explores the cascading impacts of recent U.S. tariffs and reciprocal trade barriers on U.S. goods and services. Tariffs have long served as a tool for national governments to protect domestic industries, correct trade imbalances, or as leverage in international negotiations. The United States, as the world’s largest economy, holds a central role in shaping global trade norms. In recent years, particularly following the 2016 presidential election, the U.S. adopted a more…

  • Litigation Consulting - QuickRead Top Story

    From Forecast to Flawed Assumptions and a Speculative Basis

    June 4, 2025

    Court Dismisses Accounting Expert’s Testimony in Packaging Lawsuit 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,…

  • Financial Forensics - QuickRead Top Story

    The Value of Simple Analytics in Financial Investigations

    June 4, 2025

    A Case Study In this article, the author uses a case study to explore how forensic accountants used analytics to identify discrepancies in financial records and support financial investigations. Introduction While we traditionally think of forensic accounting as the specialized area of accounting that focuses primarily on the investigation of financial crimes, forensic accountants are also well equipped to help companies untangle financial records when a company suspects financial records are not properly reflected due to errors. Regardless of the nature of the engagement, the use of analytics can help the forensic accounting professional identify areas to investigate and can…

  • Case Law - QuickRead Top Story

    Legal Update: May 2025

    May 28, 2025

    Galiotos v. Galiotos—The Tale of a Sibling Feud This legal update provides a summary of how the trial and appellate courts addressed a dispute amongst siblings that were co-trustees of trusts holding commercial real estate assets. The case provides valuation and litigation support professionals an opportunity to assess what has happened when an impasse of this nature results in litigation. “If you ever start feeling like you have the goofiest, craziest, most dysfunctional family in the world, all you have to do is go to a state fair. Because five minutes at the fair, you’ll be going, ‘You know, we’re…

  • Financial Forensics - QuickRead Top Story

    Is Bitcoin a Ponzi Scheme According to Charles Ponzi?

    May 28, 2025

    Conversations with ChatGPT 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…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Unimpeachable Certainty in the Age of Digital Distortion and Artificial Intelligence

    May 21, 2025

    Trust but Authenticate This 20th article in the Unimpeachable Neutrality series explores why and how valuation and forensic accounting experts may need to evolve toward a new standard: unimpeachable certainty. Neutrality, once the highest standard of expert credibility, must now be supplemented with verifiable authentication practices to ensure that expert conclusions are not built upon fabricated realities. Neutrality without authentication has become not a virtue, but a risk; a structural weakness that can be exploited. This evolution marks a pivotal moment for our profession. Those who remain static, clinging to an outdated conception of unimpeachability, will find themselves undermined not…

  • QuickRead Top Story - Valuation/Appraisal

    Being a More Trusted Advisor

    May 21, 2025

    Retain and Build Client Relationships Finding good clients can be a challenge. Even with good clients, maintaining the relationship and improving it takes a few easy steps. In this article, the author shares steps a firm can take to improve the relationships and minimize the chance of losing the client. Finding good clients can be a challenge. Even with good clients, maintaining relationships with them can be improved by a few easy steps. Consider the following ideas, which require minimal time or expense. Visit your client’s website once a month. Look for announcements about recent changes such as new products,…

  • Financial Forensics - Litigation Consulting - QuickRead Top Story

    Reducing Privacy Fine Exposure on the Cheap

    May 14, 2025

    (With the Help of ChatGPT) In this article, the author provides three versions of a data retention policy that appears compliant with GDPR or NIST. After taking NACVA’s cybersecurity course, a student reached out to me asking for a Data Retention Policy template that would be compliant with the statutes and frameworks discussed in the course, such as the National Institute for Standards and Technology (NIST) Cybersecurity Framework or the EU’s General Data Protection Regulation (GDPR). I thought this may be a good question for large language models because the subject matter is old enough that there is a sufficiently…

  • Practice Management - QuickRead Top Story

    How to Excel at BVFLS Practice Development

    May 14, 2025

    The Four Pillar Framework Rod Burkert has been spreading the gospel about BVFLS practice development since 2013. In this article, he discusses a framework that he has developed and can be used to close the gap between the practice you have and the practice you want. The people I talk to all seem to have slightly different ideas about practice development. Here is one definition from a Forbes article that I like: “Business development is the creation of long-term value for an organization from customers, markets, and relationships.” A good definition, especially at the level of a large firm. But…

  • Practice Management - QuickRead Top Story

    AI Managed My Work Schedule for Two Weeks

    May 7, 2025

    and My Productivity Doubled How can one materially improve productivity in just two weeks? In this article, the author describes how she allowed artificial intelligence to start managing her work schedule. What happened next surprised her: the author gained nearly two hours a day and doubled her weekly task completion rate. I am a single mom with two kids under three years old. I work full-time as a forensic accountant and economic damages analyst. I also own several rental properties—most of which are under construction at any given time—and I serve as my own general contractor. That means I juggle…

  • Litigation Consulting - QuickRead Top Story

    Price Isn’t Right

    May 7, 2025

    Inside the Expert Battle Over Kroger’s Pharmacy Discounts 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…

  • QuickRead Top Story - Valuation/Appraisal

    SBA 7(a) and 504 Loans

    April 30, 2025

    How Business Valuations Drive Smarter Lending Decisions This article provides a case study that highlights the methodology behind SBA-compliant business valuations. The article underscores the importance of grounding the analysis in standard valuation techniques, using reliable industry benchmarks, and properly documenting adjustments. The role and value of business appraisers to the lender and parties involved in a potential SBA-financed transaction is also discussed. Business valuations play a vital role in SBA financing. For both 7(a) and 504 loan programs, an independent business valuation is typically required in the following situations: The total financing amount (including SBA loans, seller financing, or…