Nearly all organizations rely on vendors to provide certain goods and services to facilitate their business operations. Whether for repairs or maintenance service, a purchase of office supplies, a consulting engagement, or a large capital contract, the need for vendors is universal—but it also carries an inherent risk of fraud.
Results for "fraud iq"
Time’s Up: The Benefits and Challenges of Moving Away From the Billable Hour page 28 Chris Baysden is the AICPA Magazines & Newsletters team’s senior manager, newsletters. He oversees CPA Insider and FVS News. He has more than 17 years of journalism experience, including more than a decade in various
Nathan J. Mueller’s fleecing of his employer, a financial services giant, is noteworthy because of the amount of money stolen, the many years the embezzlement lasted, and the internal control weaknesses that made the scheme possible. This article examines how the crime was committed and what organizations can do to protect themselves from similar losses.
Do you know how to spot the red flags of a fraudulent transaction? Can you evaluate the warning signs? Find out in our Fraud IQ quiz.
CPAs need the ability to ask the right questions and gather crucial information from conversations. Are your interviewing skills up to par? Find out in our Fraud IQ quiz.
Do’s and Don’ts of Due Diligence page 26 Joel Sinkin is president of Transition Advisors LLC in New York City. The firm exclusively consults on ownership transition for public accounting firms, providing advice on succession planning, mergers and acquisitions, and partnership agreement issues. He has been involved with and consulted
Fraud looms as a persistent threat to all organizations, regardless of size or location. Do you have the fraud prevention knowledge to help your company or clients protect themselves? Find out in our Fraud IQ quiz.
Seven Revenue Recognition Considerations page 24 Patent Predicaments: Be Wary of Dubious Claims page 52 Ken Tysiac is a JofA senior editor. He covers breaking news for journalofaccountancy.com and for print. He has more than 20 years of journalism experience, including work with The Charlotte Observer and The News &
Technology and globalization have created a business environment of nearly constant change, and accounting trendsetters have worked hard to keep up with the pace. Take this 12-question quiz and see how well you kept up with the news in the accounting profession in 2013. If you find yourself struggling with
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
The word skepticism is derived from the Greek word skeptesthai, meaning “to reflect, look, or view.” It has evolved over the past 2,300 years to represent, among other definitions, the application of reason and critical analysis in the search for a factually supported conclusion. In this context, the concept of
What’s Your Fraud IQ? page 26 Andi McNeal, CPA, CFE, is director of research for the Association of Certified Fraud Examiners (ACFE), where she oversees the development and production of educational materials related to the prevention, detection, and investigation of fraud. She co-authored the 2008, 2010, and 2012 editions of
Companies with fewer than 100 employees often find it difficult to implement appropriate fraud prevention and detection techniques. The Association of Certified Fraud Examiners (ACFE), in its Report to the Nations on Occupational Fraud and Abuse (2012 issue available here), has consistently reported through the years that small businesses are
Recent scandals at Olympus, Barclays, and Wal-Mart, among others, illustrate the ongoing need for organizations to continually review and strengthen their corporate governance practices. CPAs play a key role in this process. Do you know the best practices for setting up a corporate governance system? Can you spot governance weaknesses
How to Do Business in India page 26 Sabine Vollmer is a JofA senior editor. She oversees coverage of international accounting issues. She has more than 20 years of journalism experience, including more than 10 years as a business writer. She has also worked in Germany and Japan. Clarifying the
Trying to uncover evidence of fraud in a data set of millions of records is somewhat akin to searching for a needle in a haystack. Fortunately, the successful employment of data analysis techniques can clear away most of the “hay” and leave the fraud examiner or auditor with a much
Snyder’s Challenge: Reinvigorating Michigan page 22 A Quest for Relevance: New Framework for SMEs Balances Costs and Benefits in Financial Reporting page 32 Ken Tysiac is a JofA senior editor. He covers breaking news for journalofaccountancy.com and for print. He has more than 20 years of journalism experience, including work
Maintaining the privacy and protection of customers’ and employees’ personal information is a risk management issue for all organizations. The increase in identity theft is also a concern for all organizations. Laws and regulations continue to place requirements on businesses for the protection of personal data. Myriad laws and regulations
Fraud is not an accounting problem or an internal control problem; it is a human problem. Not even the strongest system of controls can eliminate all risk of organizations’ being defrauded by employees who are sufficiently motivated to find loopholes, ways to override controls, or opportunities for collusion. While most
Small businesses are significantly more likely than their larger counterparts to neglect instituting basic antifraud controls that could save them from costly losses, a recent worldwide survey shows. Organizations with fewer than 100 employees were significantly outpaced by larger organizations in every fraud control measured in the Association of Certified