Fraud and Forensics

News and information related to fraud investigations, forensic accounting, and related topics.

Personal Use of Non-Profit Funds – PayPal Fraud

 

This is the second installment in a series where we look at the various fraud schemes available to those who might do you or your business harm.

Technology is constantly evolving as industry experts find new and improved ways to do things.  They have brought us banking by phone, transfers via texting, and mobile payments by Square.  Even before these technologies became globally available, we were making on-line payments using service providers such as PayPal, SecurePay and Authorize.Net. As technology has evolved, the question you need to ask is–have my internal controls evolved, as well?

Take PayPal, for instance.  PayPal provides individuals […]

By |April 5th, 2017|Fraud and Forensics|0 Comments

Forensic Accounting in Divorce by The New York Times

Even if you don’t have hundreds of millions in assets to go missing, this article can teach you a lot about how money can be hidden.  Learn some of the dark sides of the global offshore financial system that people can use to hide assets in this financial sleuthing article written by The New York Times.

By |January 11th, 2017|Fraud and Forensics|0 Comments

Lost Profits – Part 3: Identification of Saved/Avoided Costs

 

 

This is the final post in a three-part series discussing the calculation of lost profits in a hypothetical scenario seeking economic damages for the alleged violation of a non-competition covenant.  As noted in the prior posts, the three part series will utilize the following fact pattern.

 

The Best Animal Hospital, Inc. is a veterinary clinic located in Atlanta, Georgia.  The company was established on January 1, 2000 by Bob and Jill
Bob and Jill each own 100 shares of The Best Animal Hospital, Inc.’s stock representing 100% of the outstanding shares of the company
Bob and Jill signed a Shareholder […]

By |September 16th, 2016|Fraud and Forensics, IAG Bulletins, Legal News and Views|0 Comments

Personal Use of Corporate Funds – Credit Card Fraud

How many different ways are there to commit fraud in a small business?  The possibilities, unfortunately, can be endless when owners and management do not have solid internal controls in place or the willingness to acknowledge that “it could happen to me.”  This will be the first installment of several to explore the various fraud schemes employed, sadly, by those you most trust.

One of the most common issues we have seen when called to perform fraud investigations can be obvious if you knew to look for it – personal use of corporate funds.    This can take on many forms.  In […]

By |September 14th, 2016|Fraud and Forensics|0 Comments

Karen & Laurie to Speak on Fraud

On December 2, 2016, Laurie and Karen will present “If I Had Only Known Then… – A Study of Fraud Schemes, Missing Internal Controls and Resulting Investigations” at the University of Georgia Small Business Development Center at Kennesaw State University’s CPE for CPAs.  Please click here if you are interested in attending this session or others.

By |August 26th, 2016|Fraud and Forensics, IAG Bulletins|0 Comments

Lost Profits – Part 2: Calculation of Lost Revenues

This is the second post in a three part series discussing the calculation of lost profits in a hypothetical scenario seeking economic damages for the alleged violation of a non-competition covenant.  As noted in the prior post, the three part series will utilize the following fact pattern:

The Best Animal Hospital, Inc. is a veterinary clinic located in Atlanta, Georgia.  The company was established on January 1, 2000 by Bob and Jill.
Bob and Jill each own 100 shares of The Best Animal Hospital, Inc.’s stock, representing 100% of the outstanding shares of the company.
Bob and Jill signed a Shareholder Agreement on […]

By |April 14th, 2016|Fraud and Forensics|0 Comments

Lost Profits – Part 1: Understanding and Analysis of Causation

This is the initial post in a three part series discussing the calculation of lost profits in a hypothetical scenario seeking economic damages for the alleged violation of a non-competition covenant.  The three part series will utilize the following fact pattern.

The Best Animal Hospital, Inc. is a veterinary clinic located in Atlanta, Georgia.  The company was established on January 1, 2000 by Bob and Jill
Bob and Jill each own 100 shares of The Best Animal Hospital, Inc.’s stock representing 100% of the outstanding shares of the company
Bob and Jill signed a Shareholder Agreement on January 1, 2000, which contained a […]

By |October 26th, 2015|Fraud and Forensics|0 Comments

City of Temple Forensic Investigation

On August 24, 2015, Karen Fortune, Pat Salem and Luke Thomas appeared before the City Council for the City of Temple (Georgia) to present findings from a forensic investigation of the City.  Please refer to the following Times-Georgian articles for more information about this investigation:

Temple: Audit Reveals More than $1M Wasted
Temple Audit: Sewell building cited as major part of $1M waste
Former Temple Mayor Responds Audit
Temple Audit: ‘Poor’ bookkeeping, asset management

By |August 27th, 2015|Fraud and Forensics, IAG Bulletins|0 Comments

Welcome Tyler Wright

We are excited to announce that Tyler Wright, CPA, CFE joined IAG as a Senior Manager on June 22, 2015.  Tyler earned his Bachelor of Business Administration in Accounting and Master of Accountancy degrees from the University of Georgia.

Tyler brings a strong accounting background and experience in the fields of auditing and forensic accounting.  He has experience with KPMG’s multinational forensic services practice, and he has served as a member in the corporate audit department of the Coca-Cola Company, where he assisted with the development of the company’s fraud risk management strategy including the design and implementation of process improvements […]

By |June 23rd, 2015|Fraud and Forensics, IAG Bulletins|0 Comments

Carrs’ Sentenced to Prison Time

On March 10th, 2015 Judge Leonard, Cobb County Superior Court Judge,  sentenced both father and son to prison time after being convicted of charges associated with an elderly widow. Click here to see what Cobb County District Attorney, Vic Reynolds, has to say.

By |March 16th, 2015|Fraud and Forensics, IAG Bulletins|0 Comments