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1. Surviving on cross-exam: Tips for expert witnesses  

BY Gary L. Birnbaum and Vail Cloar
Understanding the cross-examiner’s objectives can help an expert witness prepare to take the stand. It is not difficult to identify foundational principles that, if properly understood and applied, allow you to “survive” cross-examination. Here are seven tips for forensic and valuation services accountants who serve as expert witnesses.

2. Lessons from an $8 million fraud  

BY Mark J. Nigrini, Ph.D. and Nathan J. Mueller
In hindsight, it seems obvious: Nathan J. Mueller’s pilfering of financial services giant ING should have never been allowed to start, much less last as long as it did. First, it was an accident that gave Mueller, an employee in ING’s reinsurance division, the authority to approve company checks of up to $250,000.

3. What’s your fraud IQ?  

BY Andi McNeal, CPA
At some point in nearly every CPA’s professional experience, he or she encounters a transaction or situation that stands out from the others—one that just doesn’t make sense. Many of these occurrences turn out to be erroneous or to have an unobvious, yet legitimate, reason behind them. But some have a more sinister explanation.

4. New mentoring program helps CPAs interested in CFF credential  

The AICPA established the Certified in Financial Forensics Mentor Program, which is designed for AICPA members interested in developing their skills and business practices in forensic accounting through the help of more experienced forensic professionals.CPAs who apply to the program will be paired with mentors who hold the AICPA’s Certified in Financial Forensics (CFF) credential.

5. Kelly Richmond Pope, CPA, CGMA, Ph.D.  

My father (Tyronza R. Richmond) always encouraged me to major in accounting. He was business school dean at North Carolina Central University in Durham, N.C., for 10 years and chancellor from 1986 until 1992. I took my first accounting course as a ninth-grader at Charles E. Jordan High School in Durham.

6. IRS oversight of CPAs who provide valuation services  

BY Michael Gregory, ASA, CVA, and Renée Marino, CPA/ABV, CFA, ASA
Under Sec. 6695A, enacted by the Pension Protection Act of 2006, P.L. 109-280, appraisers may face monetary penalties for appraisals that lead to substantial and gross valuation misstatements on returns. This section is intended to provide greater assurance that all appraisers and appraisals meet a minimum threshold of qualification.

7. How to value a CPA firm for sale  

BY Joel Sinkin and Terrence Putney, CPA
One of the key components of a CPA succession plan is the sale or transfer of the retiring CPA’s ownership interest. How is the value of that interest determined? In most circumstances, the value of an owner’s interest is different when selling to an external buyer than it is in an internal transaction.EXTERNAL SALESThe most common question about accounting firm sales the authors are asked when teaching CPE courses is “What is the multiple (of billings)?” The multiple is determined by four main factors:1.

8. Q&A: Top issues in business valuation  

BY Chris Baysden
Business valuation experts have been practicing in an evolving landscape for the past several years. New standards, changing technology, and an aging population are all playing a part in effecting changes.The JofA organized a round-table discussion of the important issues affecting CPAs who advise clients on business valuation matters.

9. Fraud hotlines: Don't miss that call   CPEDirect

BY Christine P. Andrews, DBA, and Brian P. LeBlanc, CPA
Tip lines are one of the most effective tools organizations possess for detecting and preventing fraud. Fifty-nine percent of forensic and valuation CPAs participating in the AICPA’s 2011 Forensic and Valuation Services Trend Survey said internal whistleblower hotlines would lead to improvements in preventing fraud in the next two to five years.

10. Gifts-in-kind: What are they worth?  

BY Jennifer Brenner, CPA
A number of investigative articles have been written by the media and charity watchdog agencies questioning the valuation of gift-in-kind (GIK) contributions received by not-for-profit entities (NFPs). These articles identify various approaches to valuing GIKs, focusing on the large disparities between conclusions reached by NFPs, and questioning the application of U.S.
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