Forensic Accounting
The Value of a Forensic Accountant in a High Net-Worth Divorce
A forensic accountant is worth engaging in a divorce, particularly in high net-worth cases. Divorce is never an easy process, but when high net-worth individuals are involved, the stakes can elevate to a whole new level, quickly becoming a legal and financial minefield. High net worth divorce proceedings often involve thoroughly examining and analyzing finances,…
Read MoreHow Should I Prepare My Finances for Divorce?
Divorce. It’s a topic no one likes to talk about. But that doesn’t change the fact that it is reality for hundreds of thousands of Americans each year. In fact, the U.S. reported over 600,000 divorces in 2020 alone. When divorce is on the table, especially for high net-worth individuals, finances can get complicated and…
Read MoreWhat is Forensic 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 even more divorces than in…
Read MoreThe OFE’s Role in Combating Tax Fraud
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 to “promote compliance by strengthening…
Read MoreCorporate Fraud Spike is Inevitable
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 a number of major factors:…
Read MoreMost Common Types of Financial Crimes in the U.S.
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 fight financial crimes, but the…
Read MoreFraud Prevention Strategies for Your Business
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 their fraud prevention efforts on…
Read MoreSome of the Largest Mergers and Acquisitions Ever
From August 2019 to August 2020, there were a total of 12,123 merger and acquisition deals negotiated between businesses. Regardless if the agreements are large or small, each financial negotiation comes with its own set of complexities and requires intricate attention to detail. If you’re looking to complete your own merger or acquisition this year,…
Read MoreWhy Are Expert Witnesses Important?
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 them in a case. An…
Read More9 of the Biggest Financial Crimes in History
Financial crimes range from fraud to money laundering, from insider dealing and market abuse to corruption and bribery, and from electronic crime to terrorist financing. While financial crimes have always been a global threat, the last few decades have unearthed just how impactful these crimes can be on the global economy and its stability. Ponzi…
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