Embracing Innovation to Combat Financial Crime Fraud and financial crime have become increasingly complex and create pervasive issues for organizations of all sizes and specialties. As a result, advanced technology and AI have emerged as invaluable tools in the fight against such issues. This article focuses on how advances in AI and machine learning can aid forensic investigation procedures and further bri ...

Learn how to create a Custom GPT with AI writing the prompts for you! In this short demo, I will show you how to create a goal-setting Custom GPT. Here is a practical way to put AI to work in your consulting practice. If you find yourself using the same prompt over and over, you can automate it by creating what OpenAI calls a Custom GPT. Every AI platform has its own name for this concept, but the idea is t ...

AI-Driven Digital Investigations Workflow In investigations requiring eDiscovery and digital forensics, AI can be a powerful complementary tool. It enables the analysis of digital information in ways that are both efficient and insightful. This article explores practical recommendations and processes for implementing AI in digital investigations and their workflows. Introduction When most people think of Ar ...

A Business Valuation Expert’s Perspective Drawing from a presentation at the 2025 NACVA BVFL Super Conference by Glenn Block and Greg Clark, this article explores key elements of effective engagement letters, common pitfalls, and practical examples to guide valuation experts in crafting robust agreements. In the ever-evolving landscape of business valuation and forensic accounting, engagement letters serve ...

How AI is Reshaping Litigation for Better and Worse AI remains a flawed practice companion. In addition to the possibility of hallucinated case citations and incorrect legal analysis, the use of AI introduces data privacy concerns and risks misadvising individuals due to overly generalized AI conclusions. In this article, the author addresses the following: Does the use of AI in litigation represent true ar ...

Here is a practical use for AI in your consulting practice. If you ever need to create training for a new employee or intern, you will find this method very useful. It will save you hours of time and make you look like a well-organized firm. We will use Perplexity in this demo, but you could use your favorite AI chatbot to do the same thing. Watch this video to see how to create professional video training ...

The Hidden Risk Behind the Hype Among the most pressing concerns is the phenomenon of AI washing, which can be the practice of overstating or misrepresenting a company’s AI capabilities or can be the increased acceptance of low-quality output. While it may be a trendy marketing tactic, AI washing can also carry significant legal liabilities and valuation distortions that demand scrutiny. The author discusse ...

Evaluating Your Work Product and Professional Services The author states that over the past year, he has seen clients use AI tools to “check” his work, draft their own valuation commentary, and even generate critique his reports. While he welcomes their curiosity, some encounters have been alarming. Artificial Intelligence (AI) is no longer just a topic for webinars or conference panels. It is now part of d ...

Data privacy with AI chatbots How to deal with the risks. Many consultants are understandably concerned about uploading client information into ChatGPT. The biggest fear is that sensitive, identifiable data could be exposed, shared with others, or even used to train future AI models. Watch this video to show you how to deal with the risks. https://www.youtube.com/watch?v=ekYLp6pcREo Colin Brown is the CTO o ...

It is About Positioning In this article, Rod Burkert reflects on the value and limits of thought leadership, how to position oneself or the firm, and ways that AI can help bolster the positioning effort. Ok. First, I am not a fan of the term “thought leadership” ... or its predecessor, “content marketing” (so 2010s) ... or the latest I’ve heard, “being a sage.” But let’s proceed with “thought leadership,” a ...

Use ChatGPT’s newly released agents to automate every task you can define. ChatGPT's new AI agents are purpose-built digital assistants designed to handle specific tasks autonomously, making them a powerful tool for business consultants. These agents can research competitors, summarize client documents, generate reports, follow workflows, or even respond to e-mails; all with minimal input. For consultants j ...

Increased Misuse and Sophistication of AI to Commit Digital Fraud 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 ...

Use Canva and ChatGPT to Create a Pricing Calculator you can use on your website. AI is changing the game when it comes to coding. Now, even if you do not know a thing about programming, you can still bring your ideas to life. With AI-powered tools, all you need to do is describe what you want and the AI will handle the code for you. It is as simple as telling the system what you need—whether it is building ...

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 ...

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 ...

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 conversa ...

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 ti ...

(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 ...

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 forensi ...

Today, I am taking a risk. A risk of exposing weaknesses in AI and applying it to the business valuation profession. So, follow along with my experiment and let’s see what happens. First of all, you should know that I have the paid version of ChatGPT ($20/month) and I used the 4o model for my test. Since I am a tech wizard and not a CVA, I started simple. Prompt #1: What kind of data do you need to calculat ...