What Would Be a Typical Approach to a Forensic Accounting Assignment?
Forensic accountants are called upon to many assignments where little is known at the beginning. What is the typical approach when handling a forensic accounting job?
Insights
What Is the Difference Between Investigative Accounting and Litigation Support?
A forensic accountant may perform investigative accounting, or act as litigation support. What is the difference between these two? First, investigative accounting is typically associated with investigations of criminal matters. An average investigative accounting assignment would be related to employee theft, securities fraud, insurance fraud, kickbacks and proceeds of crime investigations. Certified Public Accountants (CPAs)…
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…
Health Savings Accounts
Health Savings Accounts As health insurance premiums continue to increase, individuals continue to look for ways to minimize their costs through tax favorable health plans. One of those tax advantages is through a Health Savings Accounts (“HSA”). An HSA is an account set up with a qualified trustee by an eligible individual who has a…
Once It’s Out There, You Can’t Take it Back … Or Can You?
Once It’s Out There, You Can’t Take it Back … Or Can You? There are several things I have learned over the years about the internet. Not everything you read on the internet is true and not everything you SAY on the internet can be deleted. For instance, Reggie Bush of the Saints tweeted the…
Shenzen, China
Shenzen, China Located just an hour drive north from Central Hong Kong, Shenzhen (in Guangdong Province) was the first (and most successful) “Special Economic Zone” in China. This special status allowed western industrialization — more than US$30 billion in foreign investment has gone into both foreign-owned and joint ventures initially in manufacturing but more recently…
Paris: The City of Lights
Paris: The City of Lights The site is instantly recognizable — La Tour Eiffel! Here, it is seen from the top of La Louvre — looking over the Seine, with the Musee d’Orsay in the foreground. Paris is a beautiful city during the day and is even more impressive at night. When in Paris, we…
Who’s Watching Me Now?
Who’s Watching Me Now? Ok, I am going to date myself a bit here. Remember the 1984 song by Rockwell “Somebody’s Watching Me”…? [youtube=https://www.youtube.com/watch?v=7bQwin3Vv0k] Some of the lyrics in the song: And I don’t feel safe anymore Oh, what a mess I wonder who’s watching me now (Who) The IRS Well, the answer is maybe…
Giving Back: Out of Africa
Giving Back: Out of Africa WithumSmith+Brown just completed our second annual “Withum Week of Caring,” with over 400 individuals donating time to over 40 local organizations. Giving Back at Withum, however, occurs around the year and around the world. This is a story of Doris Martinez from our Red Bank office, who traveled to Africa…
(Don’t) Lie to Me: Detecting Lies and Deceit in Interviews
Share Interviews are a key part of a fraud investigation, and often one of the first steps in the investigative process. An effective interview can expose organizational weaknesses, identify employees who may be motivated to steal, and, of course, produce a confession from a guilty party. Although it is difficult to tell if a person…