Considerations When Hiring a Forensic Accountant

Alex Helfand, ENCE, Computer Forensic Specialist

Not all forensic accountants are created equal.  Just as you would with any service provider, you must exercise due diligence when selecting a forensic professional, ensuring that you choose an individual with the right credentials for your case.  There are four key factors to consider: Certifications, Experience, Reputation and Capabilities.

Certifications
The most common certification associated with a forensic accountant is Certified Fraud Examiner (CFE). To become a CFE, the individual must be a member of […]

May 3, 2012 Accounting, Forensic Accounting, Human Resources Read more...

Hiring a Payroll Audit Firm, Question 3: How Many of Your Payroll Audits Have Findings?

Posting by Larry Beebe, CPA

As part of this series, I am providing Plan Trustees with a list questions they should ask when requesting proposals from payroll auditing firms.  Click here to view the full list of questions.

Question 3: How many of your payroll audits have findings?

Is the firm you are going to hire qualified to perform payroll audits and will they do a quality job?  Any accounting firm can state that they know how to perform a payroll audit, […]

May 3, 2012 Uncategorized Read more...

UNDERSTATEMENT OF BASIS IS SUBJECT TO 3 YEAR STATUTE OF LIMITATIONS

The Supreme Court issued a ruling on 4/25/12 that an overstatement of basis is not an omission of gross income for determining the statute of limitations that applies under Code Section 6501(e)(1)(A) (Home Concrete & Supply LLC (109AFTR 2nd 2012-661).
This means that the normal 3 year period  in which the IRS can make tax adjustments  will  apply rather than the special 6 year period the IRS has been using .  This issue has been litigated for several years with […]

May 2, 2012 Accounting, Tax Read more...

“How To” Series: How Often to Schedule a Payroll Audit

Posting by Phil Vivirito, CPA

In this series, I will explain several fundamental payroll auditing principles.  This post discusses guidelines for determining the frequency of payroll audits.

When asked how often a payroll audit should be scheduled, the most common answer given is “every three years.”  However, there is no requirement that an employer be audited at this frequency.     A problematic employer may be audited every year, some very large Funds will only audit a percentage of employers each year, and […]

April 30, 2012 Payroll Audit Read more...

Delinquency vs. Complexity: The Changing Role of the Payroll Auditor

Posting by Andrew Staab

At a recent International Foundation of Employee Benefit Plans conference, I was asked if I have noticed any increases in the number of delinquent employer cases.  The questioner was prodding me to confirm that tough economic times have caused an increase in the number of delinquency matters.  I am not seeing more cases; in fact I am seeing fewer cases.  But, I am seeing more complex cases, and I am using more weapons in my arsenal […]

April 25, 2012 Payroll Audit Read more...

Recreating the Crime through the Numbers: A Guide to Fraud Investigation, Part 2

Alex Helfand, ENCE, Computer Forensic Specialist

In my previous post , I detailed the initial stages of a fraud investigation.   This post reviews the final stages of an investigation and how a conclusion is reached. 

Creating the Hypothesis and Collecting the Data
Once the interviewing process has concluded, I will brainstorm possible ways the fraud could have occurred and then formulates a hypothesis of how I believe the fraud occurred. This is the point in which I begin to collect “hard” evidence […]

April 24, 2012 Accounting, Forensic Accounting Read more...

Recreating the Crime through the Numbers: A Guide to Fraud Investigation, Part 1

Alex Helfand, ENCE, Computer Forensic Specialist

Recreating fraudulent employee activity can be difficult, but with a well-organized approach, a Certified Fraud Examiner (CFE) may be able to determine how, and to what extent, fraud has occurred. In this two-part blog post, I will discuss the basic procedures employed in fraud investigation and provide some real-world examples of their applications.  While the procedures are fairly universal, it is important to note that no two frauds are alike, and these procedures may […]

April 11, 2012 Accounting, Forensic Accounting Read more...

Greater Washington DC Family Business Alliance to Host Eight-Generation Family Firm

Charles Kittredge, Chairman of Crane & Co., is the Luncheon’s Keynote Speaker

Bethesda, MD (April 6, 2012) – The Greater Washington DC Family Business Alliance (“the Alliance”) has tapped the chairman of the historic paper firm Crane & Co. (“Crane”), to speak at a special Alliance luncheon on May 2, 2012. As the primary objective of the Alliance is to help area family businesses to succeed, this is a rare occasion to hear from a family business that has grown […]

April 6, 2012 Family Owned Businesses, Firm News & Events Read more...

Smoke and Mirrors: Fraud and the Closed Bank Account

John Merchant, CPA, CFE

Senior management of businesses, non-profit organizations and employee benefit plans often find that their organizations are maintaining bank accounts that are no longer needed.  Consequently, they instruct someone within the organization – often the chief financial officer, the controller, or a bookkeeper – to close the account.  The person charged with closing the account will normally provide a bank statement showing that the account balance has been reduced to zero as evidence of completion of the […]

April 3, 2012 Accounting, Forensic Accounting Read more...

When Push Comes to Shove: Addressing Payroll Audit Disputes, Part 2

Posting by Phil Vivirito

In this multi-part series, I will review the intricacies of payroll audit disputes, explaining the many different types of disputes, providing insights for how to establish the validity of a dispute, and delineating the various options for resolving a payroll audit dispute.

Can the Payroll Auditor Resolve the Dispute?
The first post in this series discussed how to determine the validity of a payroll audit dispute.  Once an employer documents their dispute in a manner that details both […]

March 23, 2012 Payroll Audit Read more...