Long Island Business News If you want to find fraud, who are you going to call? Your accountant? Not necessarily. Many people think traditional audits are likely to detect fraud. But firms hired to review financial statements rarely detect fraud, in part because it’s usually too small to catch that way. Instead of calculators, the […]
White Collar Crime Fighter, June 2016 Often, two shareholders are involved. Shareholder A is often the “money” person. He or she has multiple businesses, access to credit, and invariably not all their enterprises are successful and these become a black hole for money. Partner B is the “expert” — with unique ideas and skill sets […]
CPA Journal, May 2016 Full Article
CPA Journal, May 2015 “You can have data without information, but you cannot have information without data.” —Daniel Keys Moran, programmer and science fiction writer CPAs rely upon various forms of technology to accumulate data related to the work at hand, be it an independent audit or a tax return. While this data is needed […]
CPA Journal, April 2015 Full Article
White-Collar Crime Fighter To decide to proceed with a fraud investigation, an investigator should always have predication—reasonable belief and/or minimal evidence that fraud has occurred and can be detected through investigation. One way to get predication is by performing an audit-related exercise known as discovery sampling (also sometimes referred to as “stop-and-go sampling”). Also helpful: […]
CPA Journal, November 2014 For hundreds of years, businesses have raised equity and debt to grow and expand. The process begins when an entrepreneur has an idea that requires capital (or debt-based) investment. The entrepreneur solicits this investment from the public, which thus has the right to a certain return on investment and dividends from […]
The Trusted Professional, Feb. 2014 Information technology has taken a starring role in the risk assessment process that accompanies the planning, execution and conclusion of the audit, now that the capturing, processing, storing and reporting of information have become almost exclusively computerized. Given how central its use is, it’s always a good idea to review […]
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