Enron: The Good, the Bad, and the Ugly

Written by Tracy L. Coenen, CPA, CFF Andrews Litigation Reporter After a trial that lasted almost four months, Kenneth Lay and Jeffrey Skilling, both former heads of Enron Corp., have been convicted of multiple federal offenses related to the collapse of the company. The guilty verdicts were rendered on charges …

The Fraud’s In the Figures: Finding Clues in Financial Documents

SIU Today By Daniel W. Draz, MS, CFE Many types of insurance policies require that insureds submit financial documentation in support of insurance underwriting applications and claims submitted for payment. While the financial documentation submitted may be totally legitimate, it’s often hard for investigators to determine one way or another. …

Your Number is Up: Recovering From Identity Theft

Written by Tracy L. Coenen, CPA, CFF Wisconsin Law Journal Reprinted in St. Louis Daily Record Identity theft affects countless consumers and businesses each year, costing millions and maybe even billions of dollars. In 2004, the Federal Trade Commission received over 635,000 consumer fraud and identity theft complaints with reported …

CPA Sleuths: Bringing the Truth to Light

On Balance – The Magazine for Wisconsin CPAs – January/February 2006 By Colleen Smith Like a Perry Mason movie brought to life is the way some forensic accountants describe their jobs. Investigations and courtrooms are part of their everyday lives, but the glamour is an illusion. “I spend lots of …

Forensic Accounting: A New Twist on Bean Counting

Written by Tracy L. Coenen, CPA, CFF Wisconsin Law Journal Reprinted in the Kansas City Daily Record Traditional accountants and auditors have long been referred to as “bean counters.” Some may take offense at the phrase, but if they’re being honest, they admit that it is a simplistic but accurate …

Stop, Drop, and Roll: Conducting an Internal Fraud Investigation

Written by Tracy L. Coenen, CPA, CFF Wisconsin Law Journal Fire drill training in grade school always included the mantra, “Stop, drop and roll.” This was the prescribed course of action if you were on fire. Professionals sometimes refer to tragedies in companies as fire drills. When a major internal …