Building a Better Board: A Guide for Your Family Business

Posting by Joel C. Susco, CPA

An effective board is essential for the success of your family business, forming the cornerstone of the governance structures that can help guide and direct your company.  A properly formed and functioning board also has implications for the valuation of your business, directly affecting potential exit and succession plans.

Deloitte recently released “Perspectives on Family-Owned Businesses,” a survey of the governance and succession planning practices of family-owned entities across the globe.  This study provides a […]

July 3, 2013 Family Owned Businesses, Human Resources Read more...

Balancing the Mix of Family and Non-Family Leadership

Posting by Geoffrey D. Brown, CPA

By definition, of course a family business has family members in it:  sometimes entirely, sometimes running the business, and sometimes mixed throughout all levels.  But nowhere it is required that only family members work in the business, and that includes as the primary firm leaders (e.g., management team).  While the desire of many first generation family business owners is to eventually pass overall leadership to the next generation, there are good reasons to consider […]

June 19, 2013 Family Owned Businesses, Human Resources Read more...

Identity Theft Prosecution: Three Ways a Forensic Accountant Can Help

Alex Helfand, ENCE, Computer Forensic Specialist

Identity theft and related identity fraud is a widespread problem due to today’s modern digital environment, which has armed thieves with new ways to silently steal large amounts of personal data from anywhere in the world.  Credit card fraud, identity theft and online embezzlement scams are increasingly in the news, and we frequently hear about personal information being stolen due to credit card skimming, and websites and other company data being hacked.

One particular scandal […]

March 29, 2013 Accounting, Audit, Family Owned Businesses, Forensic Accounting, Human Resources Read more...

Bond Beebe Launches New Website for Forensic Accounting Practice

Natalie Burchfiel

Industry Professionals Are Invited to Contribute Articles, Resources
BETHESDA, Maryland (March 27, 2014) – Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, is pleased to announce the launch of a new website for the Firm’s Forensic Accounting Practice,www.bbforensic.com. With posts on relevant fraud prevention, investigation, and litigation issues, as well as Frequently Asked Questions and articles, this site aims to provide insights to help businesses and tax-exempt organizations prevent […]

March 24, 2013 Accounting, Forensic Accounting, Human Resources Read more...

What are the basic categories of occupational fraud and who is likely to commit fraud?

Fraud in the workplace may cause U.S. organizations to lose an average of 7% of their annual revenue.  It is therefore important to know the basic categories of occupational fraud, and who is likely to commit fraud.

Occupational fraud is essentially defined as,”taking advantage of an occupational situation to attain personal enrichment by intentionally misusing or misapplying an organization’s resources.”

The three basic categories of occupational fraud are:

Fraudulent financial statements;
Misappropriation of assets; and
Corruption (like bribes and kickbacks).

Small businesses […]

March 2, 2013 Forensic Accounting, Human Resources Read more...

Theory of Relativity: Best Hiring Practices for Family Businesses (Part 2 of 2)

Posting by Geoffrey D. Brown, CPA, Family Business Advisor

Hiring team members in a family business often is not as simple as having a conversation with family members over the dinner table and choosing them as employees.  As reviewed in Part 1, there are numerous reasons to hire (or not hire) family members.

In this post, we reveal items to consider when bringing both new family and non-family talent on board.

Ensure buy-in on the company’s vision. During the hiring process, it’s […]

February 6, 2013 Family Owned Businesses, Human Resources Read more...

Theory of Relativity: Best Hiring Practices for Family Businesses (Part 1 of 2)

Posting by Geoffrey D. Brown, CPA

By the very term, it is expected that a “family business” always has more than one family member involved in the business.  But just being related doesn’t necessarily make one a good employee of a family business; and all family members are not in fact created equal (except perhaps for identical twins).  How should a family business approach hiring employees in the start-up period and ongoing for the best chance at success?  This two-part […]

January 16, 2013 Family Owned Businesses, Human Resources Read more...

What are the most successful ways to detect and prevent workplace fraud?

Fraud in the workplace can be detected, but prevention of fraud is even more valuable. What are the most successful ways to detect and prevent workplace fraud?

Businesses of all sizes are at risk for fraudulent activity, especially due to more incentives and pressures for companies to outperform, and more financial hardships for employees to overcome than ever before. Even if your company has never experienced any type of fraud, the possibility should not be ignored.

Detecting workplace fraud involves review […]

December 19, 2012 Forensic Accounting, Human Resources, Payroll Audit Read more...

Gretzky’s Puck and the Commitments that Drive Family Business Success

Posting by Geoffrey D. Brown, CPA

Wayne Gretzky once said that good hockey players play where the puck is, but great players play where the puck will be. That statement was certainly true for Gretzky’s career, but I was again inspired when it was referenced by an industry icon as one of the fundamental reasons his family business has survived for 212 years.

Charles Kittredge is the Chairman and former Chief Executive Officer (as of this year) of Crane & Co., […]

May 21, 2012 Family Owned Businesses, Human Resources Read more...

Bond Beebe Principal John Merchant Participates in eDiscovery Panel

Natalie Burchfiel, CPA

BETHESDA, Maryland (May 4, 2012) – Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, announced that Principal John A. Merchant was a panelist for “Digital Hide and Seek,” a Forensic Symposium hosted by Stevenson University on April 26, 2012.  Merchant, a Certified Public Accountant and Certified Fraud Examiner, spoke on the role of eDiscovery as it relates to the field of accounting. Other panelists included Michael Berman, counsel […]

May 4, 2012 Accounting, Human Resources Read more...