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…
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A self-styled “Money Doctor” who promoted his services on a Christian radio station penned a self-help guide to “share the benefits of putting Christ back in the center of our personal spending habits.” In pitches to clients, the ex-advisor allegedly promised guaranteed risk-free returns of five to eight percent per year. To read the full article in Financial Planning, click: Author of ‘Jesus Christ, Money Master’ Charged in $19.6M Ponzi Scheme, SEC Says.
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Legitimate customers and transactions are being hit hard by a system designed to stem the flow of dirty money. Many international banks have pulled in their horns since the global financial crisis, lending less and shedding customers. To read the full article in The Economist, click: The Unintended Effects of Rules Aimed at Stopping Financial Crimes.