One of the most common documents utilized in a financial investigation is the income tax return. It’s a key document in any divorce case, so the personal income tax return is always examined. And if there is a business, the […]
When a company discovers an internal fraud, it’s not uncommon for owners and management to look for a party to blame. After all, someone should have known that a fraud was in-progress, right? Often, the blame is cast in the […]
How should your accounting records be provided to your forensic accountant? Tracy talks about how she wants to receive the general ledger and related data. (Hint: Digital is preferred over paper.)
Fraud is big business. Companies are at the greatest risk of fraud from their employees, since the employees have easy access to information and assets. We don’t know for sure how much fraud happens, but experts estimate that companies lose […]
Financial documents are at the heart of divorces. Regardless of how contentious or amicable a divorce is, the finances of the spouses will need to be separated, and financial documents are required to make the division. Whether the information sought […]
Are you more likely to be selected by the IRS for a tax audit if you file an extension for your income tax return?
In the early stages of divorce, clients are required to complete financial affidavits, financial declarations, or other similarly titled disclosures. The importance of an accurate disclosure of assets, liabilities, and income is obvious. Yet many clients are unable to accurately […]
Some family law attorneys are reluctant to retain forensic accountants in their cases. Money may be a factor, but sometimes the need for an outside expert is not clear. While law firms may have paralegals or attorneys on staff who […]
Tracy Coenen explains exactly what a Ponzi scheme is: an investment scheme in which the promoter takes money from “investors” and promises to invest it. There is little to no real investment, and when it comes time to pay “returns” […]
Cases with high volumes of bank data, such as money laundering, high net worth divorce, securities fraud, Ponzi schemes, tax fraud, and white collar crime, present special challenges for forensic accountants. High volumes of financial data can be overwhelming. How […]
