A Top Madoff Aide Shatters the Silence Aug 12, 2009
"There is more money to be found," says Kenneth Yormark, leader of consulting firm LECG's () forensic accounting practice. DiPascali Jailed Without Bail. (BusinessWeek)
Forensic accounting probes fraud cases Aug 11, 2009
Forensic accounting has gained prominence as fraudsters and Ponzi scheme artists crowd the front pages of newspapers, but the practice existed long before the turmoil of the last year, the corporate scandals of the early 2000s, or even the savings and loan crisis of the 1980s. Over the years, forensic accounting has been practiced in different forms and has been known as transactional analysis, forensic services and litigation support ... With every wave of fraudulent activity, the forensic... (Tampa Bay Business Journal, FL)
Zimbabwe: Country Receives U.S.$38 Million to Fight Diseases Aug 8, 2009
Has a forensic accounting analysis been done to show what Comrade Gono did with that money. Nonetheless, the Global Fund has stood firm by the people of Zimbabwe in continuing it's funding despite the previous government's theft. (allAfrica.com)
ALL BUSINESS: How Tough Is the SEC? Aug 8, 2009
"Entities don't do bad stuff. People do bad stuff," said Lynn Turner, former chief accountant for the SEC in the late 1990s who is now a senior adviser to LECG, a legal, economic and forensic accounting firm. "To stop that, people need to know the SEC is going to come down on them like a ton of bricks.". (ABC News -- Business)
Investment scams take fraud bill to $100m Aug 4, 2009
And most fraud is committed against commercial businesses by middle-aged males in management positions who have been with the company for several years, according to the national head of forensic accounting at auditing firm KPMG, Gary Gill. Management employees tend to have a higher level of access and more trust in the organisation so can normally get away with more over a longer period than junior employees, he said today. (Sydney Morning Herald -- Business)
Economic slid keeps fraud investigators busy during slump Aug 2, 2009
The National Association of Certified Valuation Analysts calls forensic accounting the "art and science of investigating people and money.". Forensic accountants analyze financial records to detect fraud. (AZCentral -- Business)
Forensic accounting thrust into spotlight Jul 23, 2009
Surge in fraud, recession thrust forensic accounting into spotlight - Business First of Columbus ... Surge in fraud, recession thrust forensic accounting into spotlight ... The recession has thrust forensic accounting into the news these days corporate belt tightening and layoffs have caused many companies internal controls to wane, causing fraud to rise. (Columbus Business First, OH)
RE: Obama's Message Vindicates NPP Ideology Jul 22, 2009
So President Obama was addressing these thieves in the previous administration when he advocated concrete solutions to corruptions like forensic accounting. In otherwords he was calling on those who were entrusted with power to account for their stewardship by submitting themselves to forensic auditing and taking responsibility for their actions. (Ghana Web, Ghana)
Surge in fraud, recession thrust forensic accounting into spotlight Jul 21, 2009
for free extra services. Subscribe to Business First. (Columbus Business First, OH)
Obama Doesn't Understand Africa Jul 16, 2009
His proposals on ending corruption -- "forensic accounting, automating services strengthening hot lines and protecting whistle-blowers" -- are technocratic in nature. But the real challenge is how to give Africa's rulers a vested interest in fighting corruption. (Slate)
Ex-city union organizer gets 18-month prison sentence Jul 15, 2009
She has accepted responsibility for her role in this offense and (pleaded) guilty, sparing the government the time and considerable expense of a lengthy trial, which would require testimony and review by forensic accounting experts. She is assuming the full burden of this staggering restitution. (Nogales International, AZ)
Transcript of Obama's Speech to Ghanaian Parliament Jul 12, 2009
But what America will do is increase assistance for responsible individuals and responsible institutions, with a focus on supporting good governance - on parliaments, which check abuses of power and ensure that opposition voices are heard - (applause); on the rule of law, which ensures the equal administration of justice; on civic participation, so that young people get involved; and on concrete solutions to corruption like forensic accounting and automating services - (applause) - strengthening... (CBS News)
No More Excuses, Obama Tells African Leaders Jul 12, 2009
Obama signed his Proclamation on "this sixth day of July, in the year of our Lord two thousand nine..." -- invoking the name of the One who said, 'Let the children come to Me; do not hinder them"! Meanwhile, there's a 'Help Wanted' sign here clamouring for attention. Held out by tiny, trusted hands, it is weather-beaten and tear-streaked. It is as urgent as it is salient: 'Who will do it for us, too?' Adeyemi, a journalist and culture activist writes from Lagos Text of Obama's speech in Ghana... (Guardian News, Nigeria)
Secretary accused of embezzlement had 4 prior theft convictions Jun 23, 2009
That action triggered an eight-month investigation and a forensic accounting revealing McLoughlin stole over $80,000 by writing checks to herself and relatives, all backed by law firm funds, police allege. She reportedly used the money to make car payments, buy heating oil, pay off credit cards and for other personal bills, according to court records. (Seacoast New Hampshire)
Secretary's theft led to lawsuit against attorney, say police Jun 20, 2009
That action triggered an eight-month investigation and a forensic accounting that revealed McLoughlin stole over $80,000 by writing checks to herself and relatives, all backed by law firm funds, police allege. She reportedly used the money to make car payments, buy heating oil, pay off credit cards and for other "personal bills," according to court records. (Seacoast New Hampshire)
Transportation bill takes McGrath Highway out of DCR hands Jun 19, 2009
Legislators touted a number of apparently good-government reforms in the bill, including forensic accounting during the transition, crackdowns on outside consultants, and reduced reliance on swaptions and similar financial instruments. A copy of the compromise bill was not available at press time. (Somerville Journal, MA)
Card rort findings sent to regulator Jun 16, 2009
The report was prepared by the HSU's solicitors, Slater and Gordon, and included findings of an audit carried out by a forensic accounting firm, BDO Kendall. A section of the report dealing with the cash advances said the auditors had been unable to find out what use was made of the cash and unable to conclude whether every withdrawal had been appropriately documented. (Sydney Morning Herald -- Australia)
Stanford Lawyers Blast Receiver's $20 Million Request Jun 6, 2009
The receiver's request covers bills for lawyers, a public relations firm and a forensic accounting firm that did work for him early in the case. But Stanford is accusing Janvey of wasting money and mishandling the estate with plans such as selling assets like Stanford's yacht, the Sea Eagle, at cut-rate prices, according to court papers. (ABC News -- Wire)
Madoff review targets SEC e-mails Jun 2, 2009
Kotz, who said his investigation should be completed in August, wrote that he ordered e-mail providers to preserve the personal accounts of "several individuals." He hired a consulting firm with expertise in forensic accounting to review reports produced by the Office of Compliance Inspections and Examinations. The examinations office inspected Madoff's firm seven times in 11 years, the report said. (Boston Globe)
SingerLewak's Enterprise Risk Management Services (ERMS) Practice Selects AverQ's On Demand Collaborative Engagement Platform May 24, 2009
Renuka Shankar, Founder and CEO, AverQ, Inc. added, "With companies increasingly considering software as a service (SaaS) platforms for various business processes, having independent attestation from leading firms like SingerLewak is critical for higher confidence and assurance, which ultimately will lead to accelerating the adoption of such services. AverQ also applauds SingerLewak for offering a forum for CFOs, in which to dialogue the trend of SaaS adoption and cloud computing services. We... (Yahoo News -- Press Releases)
The forensics behind accounting May 23, 2009
Berecz, who started at the university in 2007, and his Georgia Southern colleagues are bringing their number-crunching know-how to Atlanta for a fraud and forensic accounting conference Thursday-Saturday at the J.W. Marriott Hotel in Buckhead ... Forensic accounting permeates through all of those other categories of accounting, Berecz says ... Q: How many forensic accounting programs are there like the one at Georgia Southern. (Atlanta Journal-Constitution -- Business)
GSI Group Reports Progress on Revenue Recognition Review, Update on Status of Nasdaq Delisting Proceedings, Notice of Formal SEC Investigation, 2008 and First Quarter 2009 Bookings, Additional Cost Reductions, Impairment Charges and Discussions with Lenders May 20, 2009
May 19 /PRNewswire-FirstCall/ -- GSI Group Inc. (Nasdaq: , the "Company") announced that the Company's Audit Committee of the Board of Directors (the "Audit Committee"), with the assistance of its independent legal counsel and forensic accounting firm, recently concluded its previously announced review of sales transactions in the Company's Semiconductor Systems Segment and other sales transactions that contain arrangements with multiple deliverables, for fiscal years 2006, 2007, and 2008 ...... (PR Newswire)
AlixPartners opens office in D.C. May 14, 2009
The firm s fourteenth office, located at 1602 L St. NW, will provide such services as litigation discovery, forensic accounting and information management. Michael Faraci and Susan Markel will serve as managing directors in the D.C. office, which employs about a dozen people. (Washington Business Journal, DC)
Schreiber likely used Airbus funds to pay Mulroney, inquiry told May 7, 2009
OTTAWA A forensic accounting report has raised tantalizing questions but produced no conclusive answers about the financial links between businessman Karlheinz Schreiber and former Conservative prime minister Brian Mulroney. The report, tabled at a public inquiry Wednesday, indicates that money Mr. Schreiber earned as a middle-man in the controversial 1988 sale of Airbus jets to Air Canada probably flowed later into a Swiss bank account code-named Britan. (Globe and Mail)
Major income sources to fund strategic plan Apr 28, 2009
Kvet mentioned forensic accounting in the business school and criminal justice as part of these programs. According to Kvet, summer school can also contribute to the revenue. (The Maroon, LA)
Mesirow Financial Consulting's Melissa Kibler Knoll Named President-Elect of the American Bankruptcy Institute Apr 16, 2009
Her experience also includes a broad array of work in the fields of litigation support, forensic accounting and expert testimony. About Mesirow Financial Consulting. (PR Newswire)
Searching for fraud a growing specialty in accounting Apr 7, 2009
More businesses seek skills of forensic accounting specialists ... It might not be as exciting as an episode of CSI, but the growing field of forensic accounting has plenty of drama and high stakes. (Milwaukee Business Journal, WI)
Parente Randolph merges with Lazar Levine & Felix, Lazar Lipton (2) Apr 2, 2009
Over the years, Parente Randolph has gained a reputation for excellence in providing a wide array of services businesses require to compete in today s fast paced environment including assurance services, tax services, corporate finance & valuations, corporate governance and risk management, employee benefit plan audits, forensic accounting and litigation services, benefits administration and HR consulting services, business systems consulting, and healthcare consulting. In joining with, Lazar... (Wellsboro Gazette, PA)
Five tips for combating fraud in the recession Apr 1, 2009
Will Kenyon of PriceWaterhouse Coopers forensic accounting practice outlines how firms can protect themselves against financial crime. Around half of UK companies have suffered financial crime, according to PricewaterhouseCoopers Global Economic Crime Survey 2007, and the average total cost to victim firms is in excess of 2 million. (Accounting Web, UK)
Forensic accountants key in the fight against fraud Mar 29, 2009
"We look at documents, we look at e-mails, we do interviews," said Mr. Forster, a partner with KPMG in Philadelphia who leads the firm's mid-Atlantic forensic accounting practice ... As the economy plummets, forensic accounting is one field that is expected to grow ... Forensic accounting is now the most popular specialty in Duquesne University's master of accountancy program. (Pittsburgh Post-Gazette, PA)
Parents seek answers from church officials on money situation at St. Vincent Ferrer Mar 29, 2009
Parents who asked not to be identified said church officials told them this year that a multimillion-dollar account in the school's name had been discovered in the forensic accounting process. If that is the case, some parents are wondering whether, in a time of hardship, some of that principal can be used to cover budget shortfalls. (The Palm Beach Post)
Judge agrees to independent examiner in DBSI case Mar 15, 2009
as to the need for an independent examiner and a forensic accounting in the bankruptcy case of DBSI, a Boise, Idaho-based investment firm. Monica Lindeen, Montana state auditor and securities commissioner, said that DBSI investors throughout the country pooled their money in 10 and 15 increments to pay for Hill's travel expenses. (Montana Standard, MT)
Plea by Madoff is near, lawyers suggest Mar 7, 2009
Harbeck would not disclose how much money was sent to the first investors to get checks, but he said they deposited cash and never made a withdrawal, making the forensic accounting very simple. This article appeared on page C - 2 of the San Francisco Chronicle. (San Francisco Chronicle -- Business)
5 Stocks Making Cash Feb 27, 2009
2% in the fourth quarter -- the largest drop ever in the 21-year history of tracking them -- Lennar has drawn the attention of the Fraud Discovery Institute, a forensic accounting site run by former stock felon Barry Minkow. FDI casts a critical eye on the transparency (or lack thereof) at Lennar's many joint ventures, claiming that the homebuilder is engaging in activities reminiscent of a Ponzi scheme. (MSNBC -- Business)
Bummer about those lost savings Feb 25, 2009
My sons Georgie and Niko, who had absolutely nothing to do with, and who had no knowledge whatsoever of, TMC's investment operations, are both exceptionally gifted at the kind of forensic accounting many of you may require. I invite you to contact them for reasonably priced counsel and execution. (Globe and Mail)
Stanford clients cant get cash, close accounts, receiver says Feb 23, 2009
In the statement, Janvey said he has hired outside lawyers, broker-dealer experts and experts in forensic accounting and electronic records to help him systematically gain control of Stanfords assets. Janvey is overseeing assets under Stanford management that could be as high as $50 billion, according to the SEC complaint. (Sydney Morning Herald -- Business)
Radical revamp splits RBS in two Feb 22, 2009
Surely there will be forensic accounting into the massive losses being declared. Are they understated or overstated. (New York Post -- Business)
Economy Driving Demand, Adding Glamour to Accountant's Role Feb 22, 2009
"One of the key areas that will continue to trend upward is forensic accounting," Hildebrand adds. "When businesses start going under, especially the big-name companies, people want to dig into why it happened.". (Pekin Times, IL)
CVS settles patient info investigation for $2.25M Feb 22, 2009
Kessler International is the leader in international corporate investigations, forensic accounting and computer forensics. Featured. (Yahoo News -- Pharmaceutical Industry News)
Central States Mortgage tries to move on Feb 14, 2009
The company s leaders hope to determine the exact amount of the losses through forensic accounting. For now, they re focused on running the business of handling mortgages and refinancing for a customer base of 250 credit unions in the Midwest. (Milwaukee Business Journal, WI)
Cherry Bekaert & Holland expansion trail blazes south Feb 13, 2009
It merged this week with & Co., a 25-partner South Miami-Dade-based firm with a specialty in forensic accounting. Exact terms of the deal weren t disclosed, but Terry Aidman, Tampa-based Florida managing partner, called it a real merger with MPCF principals becoming CB&H partners. (Tampa Bay Business Journal, FL)
New Expert Financial Fiduciary Forensics Team Helps Investors Recover Losses Feb 13, 2009
As a financial fiduciary forensic accounting team, McConnell and Steinwald provide. 100% principal review 100% controllable quality assurance Expert analysis, opinions, reports, and testimony. (Yahoo News -- Press Releases)
"I will not travel to Auschwitz" (119) Feb 12, 2009
What is in order would be an international, 100% transparent modern forensic accounting of the "Nazi Death Camps." We can pry the Nazi archives from the clutching fingers of the Holocaust Museum in DC (why is there a Holocaust Museum in DC, btw ... There is no reason any nation on Earth would not welcome a thorough, international and 100% transparent forensic accounting of the "Nazi Death Camps.". (Salon)
