The Jailbird CFO: Fraud on the Rise

What's going on in the world of the CFO? The latest trend seems to find some CFOs caught with their hand in the cookie jar - caught in some sort of fraud scheme.

Take several examples that have recently made the news. Office equipment leases offered through Bennett Funding Corporation in New York landed CFO Patrick Bennett in jail. Paul Polishan, who was the CFO with Leslie Fay, was sent to jail based on indictments of 18 errors related to accounting misstatements.

Why is this happening, over and over, in a seemingly increased capacity? According to analysts, this kind of fraud has been occurring more so than has been caught to date. The reason: if a company misforecasts its earnings by just a narrow margin, eyebrows are raised and the company becomes a real target for speculation.

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Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.