A properly conducted forensic interview turns a potentially reluctant subject into an information-providing source.
Forensic and valuation services
Many accounting firms are facing a daunting challenge paying for partner retirements. Long-standing buyout agreements often aren’t calibrated for today’s demographic and market realities. This article shows how firms can assess and adjust the terms and types of buyout agreements to facilitate successful ownership transitions.
Partners in midsize to large firms face many challenges and complexities when negotiating a sale of their ownership interest.
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. Understand the
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.
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.
Electronic data analysis, also known as “Big Data,” is the most pressing issue that forensic and valuation services (FVS) accountants expect to face in the near future, according to survey results released Tuesday by the AICPA. A quarter of respondents to the 2014 AICPA Survey on International Trends in Forensic
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
Three quantifiable factors will influence the sale price of the Los Angeles Clippers—and one more will trump them all, business valuation (BV) experts say. The Clippers have been the talk of the sports world for the past couple of weeks after media outlets began airing a tape of racist comments
Firm leaders must weigh many considerations during the due-diligence, negotiation, and integration phases of a successful merger or acquisition.
Members of the Chartered Professional Accountants of Canada (CPA Canada) will have access to a broad portfolio of specialized information through the AICPA Information Management and Technology Assurance Section and its Forensic and Valuation Services Section. Under an agreement announced Friday, CPA Canada members can join those sections and will
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
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. These
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
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.
The AICPA has endorsed legislation designed to block any proposal from the U.S. Department of Labor (DOL) that would change the definition of “fiduciary” as it applies to the valuation of employee stock ownership plans (ESOP). The DOL in recent years has sought to expand the definition of a fiduciary
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
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 top priorities of forensic and valuation services (FVS) accountants have changed drastically over the past few years, with business development concerns outpacing technical issues, according to a new AICPA study. The 2013 FVS Membership Top Issues Survey found that “bringing in new clients,” the classic business development imperative, ranked
Auditors of fair value for financial reporting are eligible for the AICPA Accredited in Business Valuation (ABV) credential as a result of a recent revision. The AICPA Forensic & Valuation Services (FVS) Section recently changed the experience requirement section of the ABV credential application kit to make the credential available