Fraud


The Association of Certified Fraud Examiners (ACFE) issued its 2004 Report to the Nation on Occupational Fraud and Abuse ( www.cfenet.com/report ). Based on a survey of certified fraud examiners from late 2003 through early 2004, the report analyzes more than 500 cases representing a loss of $761 million to U.S. companies. Survey respondents estimated an organization typically loses 6% of its annual revenue to fraud. In 2003, based on the gross domestic product, the total loss due to occupational fraud can be estimated at $660 billion.

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Building client loyalty with payroll services

In this report, CPA experts detail their tactics for performing successful payroll services, how to mitigate risk in the process, and the impact payroll can have as a value-added service.

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Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.