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.

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.