Companies typically have a standard way of initiating cash disbursements like payments to vendors or employees. Often this involves entering an invoice into the accounting system, ensuring proper approval for payments, and then generating the electronic transfer or check. Sometimes […]
This video is a little longer than usual. Tracy Coenen talks about the reasons why traditional financial statement audits don’t find fraud. It is very rare for fraud to be uncovered during the year-end audit, but stakeholders often rely on […]
Financial investigations have one common problem: Large volumes of data and documentation that need to be examined. Cases such as corporate embezzlement, securities fraud, Ponzi schemes and white-collar crime often have lots of financial documentation that needs to be analyzed […]
If you’re new to the world of fraud investigations, the concept of the fraud triangle will be important for you to learn. In this video, Tracy explains the fraud triangle and its importance in fraud prevention and detection.
Companies devote significant time and money to the task of making sure that their customers don’t steal from them. But how much time do they spend considering the risk that their own employees are stealing from them? Each year, the […]
If you were searching for financial statement fraud, what would you look for? Tracy talks about some of the basic/common signs you might see if Tracy Coenen teaches about some basic signs of financial statement fraud.
The idea of performing a “fraud examination” sounds interesting to many. They don’t necessarily want to deal with the numbers that a forensic accountant wades through, but they like the idea of someone sleuthing and digging through records. I’ll admit […]
When the IRS believes a taxpayer has unreported income, they will use alternative methods to attempt to determine the true income. One of those methods is the Expenditures Method. Tracy Coenen explains the basic methodology in this video. Note that […]
Forensic accounting and fraud investigation are hot specialties in the accounting world. Experts agree that the need for fraud detection services is growing, creating opportunities for small and midsized firms that are looking to start or expand a forensic accounting […]
When you think of information in an internal fraud investigation, you most likely think of things like a company’s internal records. These include accounting documents, personnel files, payroll records, accounting system information, and internal memos. While these items are key […]
