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 […]

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 […]

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 […]

Detecting Financial Statement Fraud: Part 2

Alex Helfand, ENCE, Computer Forensic Specialist

In the previous post , I reviewed common motivations for committing financial statement fraud, as well as several common ways that financial statements can be manipulated.  This post covers additional misrepresentations and how forensic accountants identify them.
Concealed Liabilities and Expenses: Concealed liabilities can include warranties attached to sales, underreported Incurred-but-not-Reported (IBNR) health benefits, or simple omission of liabilities.  Expenses can be concealed by capitalization that spreads the expense out over a number of years […]

Three Bond Beebe Auditors Become Certified Fraud Examiners

Natalie Burchfiel, CPA

BETHESDA, Maryland (January 13, 2012) – Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, announced today that Senior Auditor Jennifer Hohman, CPA, CFE, and Staff Auditors Tara McKinney, CPA, CFE and Josh Smith, CPA, CFE, have all passed the examination to become Certified Fraud Examiners (CFEs).  All four sections that comprise the CFE examination must be passed before the certificate is earned: Investigation; Law; Financial Transactions; and Fraud […]

Bond Beebe Accountant Receives Computer Forensic Investigation Certification

Natalie Burchfiel, CPA

BETHESDA, Maryland (December 20, 2011) – Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, announced today that Alex Helfand, an auditor with the Firm, has completed the EnCase® Certified Examiner (EnCE®) program, which recognizes that an individual is a skilled computer forensics examiner.  EnCase® Forensic is the industry-standard computer investigation solution; EnCE® certification is awarded to professionals who have mastered computer forensics investigation methodology, as well as the […]

Top Ten Fraud Prevention Tips for Small Businesses, Tip #5: Protect Your Business from Third Parties

Alex Helfand, ENCE, Computer Forensic Specialist

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.

With the integration of digital devices in everyday business activities, companies have become highly susceptible to unwanted attacks and data breaches from third parties.  Not […]