Forensic Accounting

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Comment by CPAnet on September 9, 2011 at 8:33am

AICPA National Forensic Accounting Conference September 21-23, Chicago, IL: Only days left to register for this conference. Experts in fraud identification, investigation, reporting & deterrence will cover forensic techniques, how to scrutinize online consumer transactions, conduct interviews, analyze statements and more. > Register Now

Comment by CPAnet on September 15, 2010 at 12:11pm

Will Ferrell: Forensic Accountant

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For Leonardo DiCaprio, the dream is over but Will Ferrell may want to keep on sleeping if this is just a dream: after three weeks at #1 in movie ticket sales, DiCaprio’s “Inception” was dethroned by Ferrell’s forensic accountant comedy, “The Other Guys” this past weekend. Yes, a comedy-buddy-cop starring a forensic accountant sold over $35M in movie tickets. Who knew? Yeah, Forensic Accountant/Cop/Hero!

In real life, forensic accountants have an eye for detail and the persistence of a championship bloodhound to uncover and pursue a crime. In the movie, Ferrell, who was transferred from Forensic Accounting to the detectives squad, demonstrates both of those key personality traits by solving a crime which the two hot shot, hunky headline grabbing cops can’t even begin to understand: the potential theft of a very large pile of money in a corporate Ponzi scheme. (You may want to explain to your friends BEFORE the movie what a Ponzi scheme is so that they understand the con.)..."
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Source: Facebook: CPAexcel

Comment by CPAnet on April 15, 2010 at 9:09am

Forensic Accounting...back in the day...

Did You Know? Al Capone was caught by an accountant!

In the 1920’s, the most notorious criminal in the United States was Alphonse “Scarface” Capone.

Capone was known by various monikers: “Boss of the Chicago Outfit” (a.k.a., “the Mob”) and “The Big Fellow.” In 1930, Capone was elevated to Public Enemy Number 1 and headed a list of 28 of the world’s most vicious criminals. He became Chicago’s most infamous leader of the Mafia, a secret criminal organization in the U.S. which had roots all the way back to Sicily and Italy.

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Source: CPAexcel

via www.accountingzone.com

Comment by CPAnet on April 14, 2010 at 8:59am

So You Want to Be a Forensic Accountant

"Forensic accounting is about as sexy as it gets these days for boutique accounting services. For starters, there’s no shortage of work. And even if you’re too inexperienced to start up your own firm, you might be able to cut your teeth at a Big 4 forensic practice or since the SEC seems to getting serious about doing its job, you could go that route.

Hell, even if you’re currently on the other side of this equation (i.e. the perp) it seems to have worked out for at least a couple people, namely Barry Minkow and Sam Antar..."
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Source:Going Concern

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Comment by CPAnet on April 14, 2010 at 8:42am

Journal of Accountancy Forensic accountants are frequently engaged to review insurance claims for business interruption or lost profits - this article uses a hypothetical case study to highlight areas that require further examination in determining lost profits.

Applying Forensic Skepticism to Lost Profits Valuations

www.journalofaccountancy.com

When a business prepares an insurance claim for lost profits damages, the opportunity to commit fraud may arise. To avoid overcompensating a claimant for lost profits, use forensic skepticism in the calculation process.

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Comment by CPAnet on April 13, 2010 at 12:34am

AICPA report highlights qualities of forensic accountants
The AICPA is leading a campaign to train more forensic accountants. The AICPA released "Characteristics and Skills of the Forensic Accountant," a report that surveyed experts to determine the qualities they deemed were essential to be a successful forensic accountant. "The CPA profession's essential values include integrity and objectivity, which are critical for forensic accounting," said AICPA Chairman Robert Harris, CPA/CFF. For information on the AICPA's Certified in Financial Forensics credential, visit www.aicpa.org/cff. WebCPA

http://fvs.aicpa.org/Resources/Antifraud+Forensic+Accounting/Forens...

http://fvs.aicpa.org/Memberships/Overview+of+Certified+in+Financial...

http://www.webcpa.com/news/AICPA-Pushes-More-Forensic-Accountants-5...