Forensics

Fraud and bankruptcy go hand in hand

Bankrupt companies are three times more likely to have been cited for fraud by U.S. regulators, according to a new study released last week from Deloitte Financial Advisory Services LLP. The study also showed that fraud incidents were much more likely to land a company in bankruptcy court.
Tax

Accounting students learn how to crack the case

Collecting clues, gathering evidence, and following the trail to find criminals has an undeniable appeal, but few college students make any connection between those skills and the skills of an accountant.The IRS has been making a methodical effort to change that misconception by holding mock fraud investigations in colleges and universities around the country.
Tax

Long Island students will be IRS agents for a day

Business owners skimming funds from their company. A bar owner who keeps two sets of books. A multi-filer tax scheme. As special Internal Revenue Service agents for a day, students from Long Island University's Brooklyn Campus will see what it is like to solve white-collar crimes like these. Working with real IRS agents on pretend crime investigations, students will be introduced to forensic careers in accounting.

Demand for forensic CPAs increases

Demand for CPAs providing forensic accounting services has accelerated, according to a survey by the American Institute of Certified Public Accountants.Two out of three CPAs polled (68 percent) say their forensic practices have grown over the past year."The survey findings tell us that not only are forensic accounting services in demand, but specifically that CPAs with this expertise are in high demand," said Stephen Winters, AICPA director, firm practice management and specialized communities.
Tax

Demand for forensic CPAs increases

Demand for CPAs providing forensic accounting services has accelerated, according to a survey by the American Institute of Certified Public Accountants.Two out of three CPAs polled (68 percent) say their forensic practices have grown over the past year."The survey findings tell us that not only are forensic accounting services in demand, but specifically that CPAs with this expertise are in high demand," said Stephen Winters, AICPA director, firm practice management and specialized communities.
Community News

Florida accountant earns financial forensics credential

Michael S. Kridel, CPA/CFF/CITP, CFC, a financial forensics expert with Daszkal Bolton LLP, a certified public accounting firm headquartered in Boca Raton, Florida, has recently been awarded the Certified in Financial Forensics (CFF) credential by the American Institute of Certified Public Accountants (AICPA). The CFF credential, established in 2008 by the AICPA, is granted to qualified CPAs with considerable professional experience in financial forensics.

Before and after Sarbanes-Oxley - learning to live with change

Less than two months after a jury found Arthur Andersen guilty of "corrupt persuasion" of others to withhold documents in the Enron investigation, Congress passed the Sarbanes-Oxley Act of 2002 (SOX), legislation designed to address the shock and anger in the country over the bankruptcies of WorldCom and Global Crossing, also clients of Arthur Andersen, and other business and accounting scandals.
A&A

Government reports faulty oversight at SBA

Troubles are mounting at the Small Business Administration (SBA). In the latest of a series of reports of poor oversight at the SBA, federal investigators published an internal memo last week that asks how the agency concluded that an affiliate of the security firm Blackwater fell within size limits for small business. The Blackwater affiliate has received more than $100 million in contracts reserved for small business.
Education & Careers

Rochester, NY high school students get introduction to accounting careers

The College at Brockport, in partnership with The Foundation for Accounting Education of the New York State Society of Certified Public Accountants (NYSSCPA), is offering the Career Opportunities in the Accounting Profession (COAP) program to about 30 area minority high school juniors, June 29 through July 2, on The College at Brockport campus.

Conference hot topics: Not for profit, XBRL, estate planning, IFRS, and fraud

Accounting professionals who attend conferences this summer will be signing up as usual for courses that bring them up to date with the latest technical developments in tax and audit and for courses that meet state ethics requirements, but they will also be able to choose courses at conferences that are devoted to major changes on the immediate horizon of the profession or identify opportunities for practice development.

New CFF forensic accounting credential to be launched by AICPA in Fall

The governing Council of the American Institute of Certified Public Accountants has authorized the creation of a new CPA specialty credential in forensic accounting.The credential, Certified in Financial Forensics (CFF), will combine specialized forensic accounting expertise with the core knowledge and skills that make CPAs among the most trusted business advisors, according to Robert Harris, chair of the National Accreditation Commission.
Community News

Marcum & Kliegman LLP merges with forensic accounting firm

Marcum & Kliegman LLP, Certified Public Accountants and Consultants, has announced its merger with RosenfarbWinters LLC, the largest forensic accounting firm in the New York metropolitan area. As a result of the merger, RosenfarbWinters is changing its name to M&K Rosenfarb LLC (MKR). In spite of an overall downturn in the economy and unfavorable job numbers, the accounting industry is still growing. "There is absolutely no shortage of available positions at M&K," states Marcum & Kliegman's Managing Partner Jeffrey M. Weiner.
Tax

New CFF forensic accounting credential to be launched by AICPA in Fall

The governing Council of the American Institute of Certified Public Accountants has authorized the creation of a new CPA specialty credential in forensic accounting.The credential, Certified in Financial Forensics (CFF), will combine specialized forensic accounting expertise with the core knowledge and skills that make CPAs among the most trusted business advisors, according to Robert Harris, chair of the National Accreditation Commission.
Education & Careers

DeVry Keller Becker team up to offer five year fast track master's program

Accounting positions rank among the top five open positions in the U.S., according to CNNMoney.com. The employment of accountants and auditors is expected to grow by 18 percent between 2006 and 2016 - a rate faster than the average for all occupations, according to the U.S. Bureau of Labor Statistics.
Tax

Feds turn to forensic accounting

Discipline is exploding field—and popular not only for uncovering corporate crime, but also tracking terrorist activity.By Darrell D. Dorrell, CPA/ABV, MBA, ASA, CVA, CMA, DABFALast month, the FBI announced it was investigating 14 unnamed investment banks, developers, sub-prime lenders, and other companies involved in the subprime-lending mess that has left Florida with the second-highest home foreclosure rate in the country.
Tax

Roles of CPAs and forensic accountants in corporate investigations

Since Sarbanes-Oxley was enacted, the Securities Exchange Commission (SEC) and the Department of Justice (DOJ) have increased the number of their accounting investigations and related enforcement actions. During this time, public companies have also been initiating their own investigations due to internal audit findings, whistleblower allegations or proactively after news reports of accounting improprieties at other entities.
Education & Careers

Former FBI agent joins accounting faculty

Don Berecz joined the faculty at Georgia Southern University in 2007, after 23 years of government service with the FBI. Berecz will serve as the first director of the University's Center for Fraud and Forensic Studies in Accounting and Business.Mr. Berecz, a licensed polygraph examiner, is a CPA and CFE. He belongs to numerous professional organizations to include the Association of Certified Fraud Examiners, and the American Association of Police Polygraphists.
Tax

My life in crime: Chronicles of a forensic accountant

By William C. Barrett III, CPA/ABV, CVA, CTP, CCFMThe profession of forensic accounting is like any other industry niche: You evolve to a plateau where track record and honed skills permit you to hold yourself out as a professional. Then, like any other business, you starve a lot before you become an overnight sensation - in demand and truly at the top of your practice in providing value - both on scene and in the courtroom.
Tax

I'm an auditor, darn it, not an investigator, right?

Recent professional guidance, such as SAS 99, Consideration of Fraud in a Financial Statement Audit, and Public Company Accounting Oversight Board (PCAOB) Auditing Standard 2, has brought more attention to the auditor's responsibility to uncover the warning signs of fraud, but there is still some ambiguity about where the auditor's responsibility ends and the fraud examiner's begins.
Education & Careers

Accounting specialists a hot commodity, but generalists in demand too

Graduates with an accounting degree are better poised than most of their peers to land a rewarding, well-paying job, whether they have developed a specialized niche or not.Demand is high and competition is fierce. The U.S. Labor Department predicts that the number of accounting jobs will increase by 18 percent to 26 percent from 2004 to 2014, with some of the growth in finance-related jobs and forensic accounting.

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