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The AI Revolution is Coming for Business Valuation and Forensic Accounting

How AI is Transforming the Industry Artificial Intelligence (AI) represents a paradigm shift in the realm of computational capabilities, transcending traditional boundaries of machine functionality to emulate human-like intelligence. AI has made remarkable advances in recent years due to the availability of massive amounts of data, powerful computing resources, and innovations in methods and architectures. ...

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When Seeing is Believing

Part IV in a Series Addressing Advances in Forensic Accounting and Financial Forensics The increasing amount of data is daunting. Managing and making sense of the vast amount of information is paramount to professionals. In this article, the author shares how he has managed those first impressions and found value using AI and software to understand the information deluge. In the 1990s, the Rubik’s cube craz ...

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What is Verified Financial Intelligence and Why is it the New Litmus Test?

Part I in a Series Addressing Advances in Forensic Accounting and Financial Forensics The author of this series of articles is co-founder of Valid8 Financial Forensics Software, a Seattle, WA and Boulder, CO-based professional service provider. These articles set forth techniques used to investigate financial fraud allegations and focus on the flow of funds. As 2023 comes into clearer view, it is evident th ...

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Finding Hidden Assets

Where to Start? In forensic accounting, whether litigation is contemplated or not, the key to the most reliable conclusion is starting with accurate and complete information. Under the best of circumstances, the primary source of this information is your client. On the other hand, when the person or entity you are requesting from is an adversary, there is little incentive for cooperation. Regardless of the ...

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Small Business Valuations

Using Forensic Accounting Valuing the small business is how most valuators earn their living. These small businesses pose as much issues to valuation professionals as they do for tax, accounting, and legal professionals by providing these entities with advice. The issues are wide-ranging, and the purpose of this article is not to patronize small business owners; rather, the purpose of this article is to dis ...

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What is Forensic Accounting and How is it Used in Litigation Cases?

The rudimentary definition of forensic accounting is the application of accounting procedures or practices to a matter that may be litigated.  Forensic accounting involves the use of intelligence gathering techniques and accounting/business skills to analyze past financial data.  Brittni Langel, CFE for McGovern & Greene LLP, discusses how litigation teams will determine if there is a need to use this i ...

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Discounting Economic Damages to Present Day Value

What discount rate should you use? Economic damages in litigation must be reduced to present day dollar values to avoid over-compensating the Plaintiff for harm caused by the defendant. This article explains present value theory in simple terms and addresses different methodologies used in reducing future economic damages to a present day dollar value. ...

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Financial Forensics, Certified Fraud Examiners, and Master Analyst in Financial Forensics

It is far broader than forensic accounting While financial forensics may share some common ground with forensic accounting, these professions are far from identical twins. D. Larry Crumbley, CPA, MAFF lays out the differences between these often misunderstood professions and explores the academic factors that may be contributing to the confusion. ...

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Business Valuation and Financial Forensic SuperConference of 2013 Announced by NACVA and the CTI

Held at the Hilton Hotel in Washington, DC, the Annual Consultants’ Conference Will Feature 57 Sessions Covering the Highest-Demand Specialty Areas in Financial Consulting  The National Association of Certified Valuators and Analysts (NACVA) and the Consultants’ Training Institute (CTI) will collaborate to host the 2013 Annual Consultants’ Conference, June 5–8, 2013, in Washington, DC.  Themed “Innovate. Co ...

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Experts and Alternative Dispute Resolution

Arbitration Panels Don’t Know Everything a Financial Expert Does. But That Doesn’t Mean You Should Even Consider Talking Down to Them. Arbitration is somewhat similar to a bench trial, but experts need to present opinions somewhat differently than if they were testifying in a jury trial—and this is particularly true with experts testifying on financial issues such as economic damages.  Joe Epps explains why ...

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How to Commit a $200 Million Scam: Inside the Year’s Most Shocking Credit Card Fraud —Daily Beast

The FBI Says it Busted an 18-Person Ring that Spanned 8 Countries and 28 States.  Make Up. Pump Up. Run Up. Daniel Gross at The Daily Beast explains:  It’s not the latest exercise fad. Rather, according to the Justice Department and the Federal Bureau of Investigation, it’s the three-step process through which an 18-person ring allegedly committed a stunning $200 million credit-card fraud.   Here're the bas ...

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Demand for Forensic Accounting is Expected to Expand – CPA Insider

Forensic Accounting Revenue in the U.S. is Expected to Grow 6.8% Annually A recent market research report noted in The CPA Insider reports that demand for forensic accounting services will remain strong over the next five years in the United States as a result of increased financial regulations and continued demand for investigative services in the wake of the recession: ...

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