Marriages do not always work out. And when a marriage takes place in the public eye, the ensuing divorce often becomes a spectacle. The public is fascinated by massive divorce settlements of well-known and powerful people. Rumors, cheating, criminal activity, plastic surgery, and money… the most historically lucrative divorce settlements….
Tag: Forensic Accounting
In general, accounting is a system of recording and summarizing the financial transactions of business entities. As the “language of business,” accounting quantifies a business or organization’s economic activities and shares the information with stakeholders. There are many fields which fall under the umbrella term of accounting, including tax accounting,….
Forensic accounting is an industry understood by few, but with the massive increase in fraud (and divorces) over the last two decades, forensic accountants have gotten busier and busier. The internet has given scammers the tools to commit fraud at a much more rapid rate. Plus, the pandemic has produced….
The adoption of technology into accounting has had an interesting journey. While some were hesitant at first, it is clear that data analytics and sophisticated technology is imperative for firms and practitioners throughout the country. The reality is the digital tools have transformed the approach to accounting, making firms more….
When it comes to the IRS, tax fraud is one of its biggest and most urgent concerns. Launched in 2020, the IRS established the Office of Fraud Enforcement (OFE) is order to focus more strategically on combating tax fraud. Fraud detection has long troubled the IRS, so the OFE serves….
From financial statement fraud to cybercrimes, and many other types of fraud in between, 2021 and beyond is likely to see a rise in fraud reaching nearly every industry. The pandemic has laid the foundation for fraud to run rampant, creating an environment where fraudulent activity will increase due to….
In a broad sense, a financial crime is defined as any type of crime that results in financial benefit to the criminal(s) involved. Financial crimes are carried out by organizations or individuals who seek economic advancement via illegal tactics. Regulatory bodies throughout the world are constantly developing new strategies to….
While it may seem counterintuitive, small and medium sized businesses are far more exposed to the prospect of fraud than large organizations. Approximately 5 percent of annual revenue is lost to internal fraud each year, according to research from the Association of Certified Fraud Examiners (ACFE). Unfortunately, many businesses focus….
For both public and non-public companies, a business valuation indicates how much that company is worth according to the market, which includes market participants and investors. However, a public company has shares that are traded on the stock exchange and the shares for a private, or non-public company, are not…..
When representing a case, the attorneys have no say who they can use as a witness, as relevant witnesses are ones who were at the scene of the crime or have useful information. However, when consulting an expert witness, attorneys can choose a person with key knowledge that can help….