Top Ten Fraud Prevention Tips for Small Businesses, Tip #1: Using Audits to Deter Occupational Fraud

Mark A. Buckberg, CPA

As a small business owner or senior executive, it is your responsibility to promote integrity and ethical values to your employees and implement the proper controls and procedures to prevent fraud.  In this series, we are highlighting ten basic fraud prevention steps you can take to keep your organization safe.

Occupational fraud is the use of one’s occupation for personal gain through misappropriation of assets or misapplication of the employer’s resources or assets.  Obviously, serving in the […]

August 16, 2011 Accounting, Audit, Forensic Accounting Read more...

Top Ten Fraud Prevention Tips for Small Businesses

Alex Helfand, ENCE

It is hard to flip through a business publication or scan the news without seeing or hearing about fraud.  Although a majority of these stories involve large corporations, small to medium businesses are still at risk for fraudulent activity.   There are more incentives and pressures for companies to outperform and more financial hardships for employees overcome than ever before.  Every business manager or professional must maintain some level of skepticism

Even if your company has never experienced any […]

August 10, 2011 Accounting, Forensic Accounting Read more...

AIRLINE TICKET TAX REFUND?

Brian Wynne, CPA

UPDATE: August 5, 2011: Congress passed and the President has signed legislation that reinstates the taxes, retroactive to July 23, 2011. Therefore, passengers who purchased tickets before July 23, 2011 and traveled between July 23, 2011 and August 5, 2011 are not entitled to a refund of the taxes. The IRS plans to provide relief regarding taxes not otherwise paid or collected because of the lapse.

At midnight on July 22nd, 2011, the legislation mandating some of the […]

July 28, 2011 Accounting, Tax Read more...

DON’€™T GET TRICKED BY BOGUS EMAIL FROM THE ‘€œIRS’€

Glenn Bailey, CPA

As sure as the sun will rise in the morning, a phishing scam alleging to be from the IRS will appear in your e-mail box. Since most everyone has some dealing with the IRS and filing taxes, You are a popular target for scammers who count on people to take the bait and click on the links.  Fear of the IRS or an audit can make normally cautious people panic and click through the emails without fully considering […]

July 22, 2011 Accounting, Tax, Wealth Management Read more...

The Next Hacking Epidemic: Curiosity

Alex Helfand, ENCE, Computer Forensic Specialist

A wide variety of items can be found discarded on the street, and some – such as a wallet, cell phone, or USB thumb drive – can prove quite valuable, or even malicious.  A curious person walking by who picks up the items might not suspect they are in a sting operation, but a recent study by the U.S. Department of Homeland Security has found that hackers might exploit human curiosity and use items […]

July 18, 2011 Accounting, Forensic Accounting Read more...

Internet Access: Is Your Data Secure? (Part 3 of 3)

John Merchant, CPA, CFE

We have previously discussed wireless internet connections from hotels and stores and some of the things that you can do to protect your data.  But, what other steps can you take, even when accessing the Internet from your own home or business?

One of the greatest dangers you face when browsing the Internet and accessing sites that are unknown to you is from viruses and other malicious infections of your computer that are spread from malware sites.  […]

July 13, 2011 Accounting, Forensic Accounting Read more...

An Employee’s Revenge: The Perfect Reason for Implementing Strong Internal Computer Controls

Alex Helfand, ENCE, Computer Forensic Specialist

Most companies have adequate fair use policies and rules that govern how user accounts, and their related access rights, are handled upon termination of employment.  However, a recent news story should make companies more aware of the potential pitfalls of weak internal controls and encourage them to strengthen their security efforts.  According to The Baltimore Sun, it appears that a recently fired employee went to great lengths to exact revenge on his former employer […]

July 11, 2011 Accounting, Forensic Accounting Read more...

Internet Access: Is Your Data Secure? (Part 2 of 3)

John Merchant, CPA, CFE

In Part I we discussed access to the Internet through wireless connections provided by hotels, libraries and stores.  While such access could subject your data to intrusion, leading to you becoming the victim of fraud, there are precautions that can be taken.

Make sure your Operating System software is up to date.  For instance, if you use Microsoft products, Microsoft is continually updating its Operating System software for your protection.  When breaches of security become known, […]

July 5, 2011 Accounting, Forensic Accounting Read more...

AUTO STANDARD MILEAGE RATES INCREASE JULY 1,2011

Jobe Dupre’, CPA

Due to increases in the price of fuel, the IRS announced today an increase in the optional standard mileage rates effective July 1,2011.  The new standard mileage rates are 55.5 cents per mile for business use of an automobile and 23.5 cents per mile for medical or moving.  The mileage rate for charitable miles is fixed by law and remains at 14 cents.

June 27, 2011 Accounting, Tax Read more...

Internet Access: Is Your Data Secure? (Part 1 of 3)

John Merchant, CPA, CFE

There seem to be almost endless opportunities to log on to the Internet when you are travelling or just going about your everyday life.  Most hotels offer internet connections and often you can log on from the local coffee shop or library.  Today, these connections tend to be wireless and that raises the basic question – when you access the Internet from one of these wireless sites, is your data secure?  This question needs to be […]

June 27, 2011 Accounting, Forensic Accounting, Human Resources Read more...