Caroline Kettering Promoted to Principal

Bond Beebe is pleased to announce that Caroline L. Kettering, CPA has been promoted to Principal in the Firm’s Benefits practice.

“Caroline is a gifted professional who brings energy, ideas and a can-do attitude to everything she does,” remarked David Dorsey, Managing Partner. “We are eager to watch her grow in her new role as Principal. We are very pleased to be adding such a talented and charismatic leader to our ranks.”

Previously a Senior Manager in the Firm’s Benefits practice, […]

November 9, 2016 Firm News & Events Read more...

Fraud Alert: Beware of The Reshipping Scam

Posting by John Merchant

The U.S. Postal Inspection Service warns of an apparent employment opportunity that is actually a scam called Re-shipping Fraud. The scam goes like this: You receive notice of an opportunity or see an ad for employment as a “package processing assistant”. This is an attractive offer because you can work from home and your only duty is to receive packages and then re-ship them to a foreign address. The package that you are shipping overseas is […]

October 25, 2016 Forensic Accounting Read more...

Lapping of Cash Receipts: A Bond Beebe Case Study

A few years ago, one of our audit clients was the victim of fraud when an employee embezzled cash receipts.  The fraud was made possible by a combination of unusual circumstances and errors in management judgment.

As we started the annual audit of our client’s financial statements, we learned that the long-time controller had decided to retire.  He did not want to leave the company in a bind, so he offered to stay on until the audit was completed.  By […]

October 11, 2016 Accounting, Audit, Forensic Accounting Read more...

The Field of Forensic Accounting

Particularly since the emergence of far-reaching financial scandals, and sweeping legislation like the Sarbanes-Oxley Act of 2002, there has been a growing demand for the services of forensic accountants. These specially trained individuals possess fraud examination skills which can help organizations in the detection and deterrence of fraud.

For a forensic accountant to succeed in this dynamic and competitive field, four fundamental areas of knowledge should be mastered:

Criminology – What is the motivation for people who commit fraud?
Financial Transactions – […]

October 7, 2016 Accounting, Forensic Accounting Read more...

Preventing Fraud: How Solid are Your Internal Controls?

John A. Merchant, CPA, CFE, CFF

Fraud in the workplace has become a major topic of conversation over the past few years.  It seems that frauds of various types are being reported at a rate far greater than just a decade ago.  Are there really more frauds being committed today than ten years ago, or are we just getting better at finding them?

Whatever the answer to that question is, it is clear that one of the best methods of detecting […]

October 7, 2016 Accounting, Forensic Accounting Read more...

PERFORMING BUDGETING & FORECASTING

ISSUE
When it comes competitive advantage, business operations and productivity are key areas that make all the difference – but you need better decisions based on accurate and detailed information. Are your inventory and marketing investments as efficient as they could be? Could vendor relations be enhanced with improved forecasting? Increased accuracy and accountability of budgets and forecasts can make sure you identify and optimize the operational springs that will help your company leap forward in the business race.
SOLUTION
There is […]

September 17, 2016 Accounting Read more...

PREVENTING BUSINESS FRAUD

ISSUE
Business owners are faced with making financial decisions on a daily basis – decisions that could adversely impact the company if someone intends to deceive or deprive the company of funds. How do you determine if an invoice is genuine? What’s the best procedure for making inquiries or asking for references before extending credit? Do you have a Privacy Policy in place (a legal requirement) to ensure the personal information of your customers and employees is secure? Every company […]

August 28, 2016 Accounting Read more...

Preserving Wealth

Unidentified risks are a far greater threat to your wealth than tax. While tax may threaten a percentage of your wealth, poorly identified risks can destroy it all. This doesn’t just mean the asset risks within your investment portfolio, such as the proportion of government bonds to shares, or whether you have too much money tied up in junk bonds, but the whole financial context of your life, especially if you’re a business owner. Those who aim to preserve […]

July 15, 2016 Firm News & Events, Wealth Management Read more...

Fiduciaries Ordered to Pay Benefits Personally

Larry Beebe, CPA

A U.S. District Court in Oregon ruled that the trustees of a retirement plan must pay a participant’s retirement fund distribution from their own personal funds as a result of failing to prudently invest plan assets.

The plan had invested its assets in a single plat of undeveloped land owner by a real estate development company and in loans to that development company. The development company could not pay on any of its obligations. Because the trustees breached […]

July 13, 2016 Accounting, Benefit Plan Accounting Read more...

How to Use Social Media to Support Your Fraud Case

Posting by Alex Helfand

The invasion of social media continues to complicate litigation. Effective litigation will increasingly include sifting through large amounts of electronically stored information (ESI) and piecing together fragmented social networking activity to substantiate a case. Exactly how does social media play into support for a fraud case and what are the considerations for preserving, obtaining, and using data from social media sites?
Social Media and the Clues Left Behind
While the most common social networking sites include Facebook and […]

June 7, 2016 Accounting, Forensic Accounting Read more...