• Healthcare - QuickRead Top Story

    Healthcare Spending Projected to Exceed $8.5 Trillion by 2033: Healthcare Cost Drivers

    July 9, 2025

    CMS found that overall healthcare spending growth has decreased slightly but is still elevated compared to pre-pandemic levels and is expected to continue to moderately grow. This article examines the factors underlying the forecasts. On June 25, 2025, the Centers for Medicare and Medicaid Services (CMS) released its forecast on U.S. healthcare spending through 2033. The analysis, published in Health Affairs, estimated healthcare spending growth in 2024 and projected the growth into 2033. CMS found that overall healthcare spending growth has decreased slightly but is still elevated compared to pre-pandemic levels, and is expected to continue to moderately grow. This…

  • 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…

  • Artificial Intelligence

    Get Started Using AI Agents

    July 2, 2025

    AI Agents are the future and here is an easy way to get started. AI agents are computer programs designed to act like intelligent assistants; they can understand instructions, make decisions, and complete tasks on your behalf. Think of them as digital helpers that use data, reasoning, and even language skills to solve problems, answer questions, or automate repetitive work. In short, AI agents can handle jobs you would normally do yourself, but faster, more consistently, and at any time of day. I recently learned of a new AI agent that is installed as a Chrome Plug-in. Here is a…

  • QuickRead Top Story - Valuation/Appraisal

    Essential Factors in Deciding: Whether to Establish an ESOP

    June 25, 2025

    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 a unique structure that allows…

  • 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 - Valuation/Appraisal

    Exploring the Narcissist’s Playbook of Financial Games: From a Forensic Expert’s Perspective

    June 17, 2025

    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 and drive to help others.…

  • Practice Management - QuickRead Top Story

    How Do You Come Up with a Price? It is About Solving the Dollar Value Problem

    June 17, 2025

    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 the number of hours you estimate it will…

  • Artificial Intelligence

    U.S. Copyright Office Clarifies AI-Created Content: Human Touch Still Required

    June 17, 2025

    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 Does Not According to the Copyright Office’s latest guidance, the key to copyright eligibility lies in human creativity. If a person uses an AI tool to generate raw content—such as text, images, music, or video—that alone is not enough. Simply inputting a prompt…

  • Litigation Consulting - QuickRead Top Story

    Calculating Personal Damages: A Review of the U.S. Supreme Court’s Pfeifer Decision

    June 11, 2025

    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 fields of commercial damages, business bankruptcy, and divorce. The…

  • QuickRead Top Story - Valuation/Appraisal

    The Macroeconomics of U.S. Tariffs, Global Retaliation, and Shifting Trade Dynamics: Impact on Business Valuations

    June 11, 2025

    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 protectionist stance, introducing a…

  • 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

    The Value of Simple Analytics in Financial Investigations: A Case Study

    June 4, 2025

    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 provide an indication…

  • Artificial Intelligence

    Using AI to Create a Financial Plan With ChatGPT 4o

    June 4, 2025

    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 of time to show her how I would do it. So this week, I am sharing a prompt you could customize to fit your needs with a few adjustments. I…

  • Case Law - QuickRead Top Story

    Legal Update: May 2025 | Galiotos v. Galiotos—The Tale of a Sibling Feud

    May 28, 2025

    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 alright. We are dang near royalty.’” (Comedian Jeff…

  • 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 - Valuation/Appraisal

    Unimpeachable Certainty in the Age of Digital Distortion and Artificial Intelligence: Trust but Authenticate

    May 21, 2025

    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 by cross-examination, but…

  • QuickRead Top Story - Valuation/Appraisal

    Being a More Trusted Advisor: Retain and Build Client Relationships

    May 21, 2025

    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, new employees, and new locations.…

  • Artificial Intelligence

    10 High-Impact, Practical Ways Consultants Can Use AI to Improve Efficiency by 50% or More

    May 21, 2025

    This article reviews 10 ways you can use AI in your consulting firm to improve efficiency. I have a lot of people tell me that AI is pretty cool but ask, how can I use it to boost the efficiency of my consulting practice? It is easy to get caught up in the hype of new technology, but there really are some immediate benefits that you can implement quickly to have more time with family and friends and less time at the office. Here is my list: AI-Powered Proposal and Report Generation Use Case: Automate the creation of consulting proposals,…