Posts Tagged ‘certified fraud examiner’

Should Forensic Accounting Be Regulated?

forensic-accountingThe profession of “public accounting” has been regulated by states through the process of issuing CPA licenses. There is one CPA exam taken by candidates across the country, and then each state uses the pass/fail results in their process of certifying accountants. In addition to passing the exam, states generally have education, ethics, and training requirements.

The field of forensic accounting has developed rapidly over the last decade or so, with lots of new professionals practicing forensic accounting. A CPA license is generally not required when providing forensic accounting or fraud investigation services, although many professionals do maintain the CPA credential because it adds a level of credibility to their work.

Identity theft a huge problem for small businesses

I’m quoted in an article on TheStreet.com about identity theft and the risks to small businesses. The bottom line? Most small businesses don’t take the threat of a data compromise seriously enough. They forget that their reputation is on the line, and they could lose customers with a data breach. And it’s much more expensive to find new customers than it is to keep existing ones.

Adds Tracy Coenen, a forensic accountant and certified fraud examiner for Sequence Inc., “I get scared for small businesses because they are not thinking about this issue. I think they are more vulnerable because they’re not taking any basic steps.” Too often, businesses hire her to deal with fraud, not to prevent it.

So while all the attention has been paid to consumer identity theft, small businesses have become more attractive to identity thieves because the rewards are greater.

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