Fraud and embezzlement have become a growing problem for many Los Angeles and Southern California business owners and entrepreneurs. A recent survey published by KPMG noted that businesses are currently reporting more fraud than in prior years, and that three out of every four companies have uncovered some type...
One of my partners recently published an article, Prevent & Detect Fraud Before It’s Too Late. The article focused on a number of areas and explained how analytics can be used to prevent losses. He noted that many Los Angeles and Southern California business executives might believe that fraud and...
There are obviously many benefits to a rebounding economy for Los Angeles and Southern California business owners and entrepreneurs, and for our economy and society in general. A growing, healthy economy usually means more opportunities to grow a business, hire new employees and boost sales and corporate profits. But there...
Acquiring another business is one way that Los Angeles and Southern California business owners and entrepreneurs can grow their companies. This strategy may enable a company to achieve explosive growth very quickly and enter new geographic markets and customer segments more efficiently. But embarking on a merger or acquisition is a...
When it comes to fraud and embezzlement, many Los Angeles and Southern California business executives may believe that this is not something that could ever happen to their businesses. “I know my employees,” they tell themselves, “and they are honest. They would never steal from me or my business.” However,...
Forensic accounting has become one of the fastest growing areas within the accounting profession. This type of accounting involves the discovery, analysis and presentation of financial information in the context of disputes, investigations and litigation. There are two main practice components of forensic accounting. In the first, litigation services, the forensic...
Incidences of financial fraud have been growing in both frequency and sophistication among many Los Angeles and Southern California businesses, especially as the economic recovery drags on and some employees give in to the temptation to embezzle funds from their employers. This is one factor that has given rise...
In our last article, we talked about how in a sluggish economy like the one we’re now facing, companies may be at an increased risk for internal fraud and embezzlement. When times are tough, it’s easier for some employees to consider perpetrating acts of fraud against their employer that...
A sluggish economy like the one we’re now facing has many potential repercussions for businesses: slower sales, less revenue and lower profits, to name just a few. Another one that doesn’t always occur to CEOs and CFOs is a higher potential risk of internal fraud and embezzlement. When times are...
There are times in the corporate world when standard auditing methods will not be sufficient. Sometimes, it becomes necessary to look deeper at records and employ full investigatory talents. In such instances, a forensic accountant becomes necessary. Forensic accounting integrates an individual’s standard accounting and auditing experience with investigatory skills to permit...