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 f ...

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. I ...

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 ...

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 ...

Human Touch Still Required Copyright Office Clarifies AI-Created Content In a much-anticipated clarification, the U.S. Copyright Office has officially ruled that works involving artificial intelligence (AI) can be eligible for copyright protection, but only when a human hand plays a meaningful role in shaping the final result. In short, AI can assist, but it cannot claim authorship. What Counts and What Doe ...

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 discoun ...

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, ...

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 quest ...

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 ...

With ChatGPT 4o An AI prompt to help you create a financial plan. This last week, I presented an AI webinar for NACVA called “AI Prompt Engineering: How to Get Better Results from AI for Your Consulting Practice” I showed attendees all my favorite tricks and frameworks for getting the most from ChatGPT and other LLMs. Someone from the audience asked if AI could create a financial plan but I simply ran out o ...