Fraudulent Financial Statements fall under the fraud category of “Occupational Fraud and Abuse,” which is defined by the ACFE as “an employee, manager, officer, or owner of an organization committing fraud to the organization’s detriment.” According to a research study performed by the ACFE, fraudulent financial statement fraud accounts for approximately 10% of white collar crime incidents. Although, other “Occupational Fraud and Abuse” crimes, such as, asset misappropriation and corruption tend to occur at higher frequency, the financial impact of those crimes is less severe. (more…)
Have you have ever wondered what it’s like working at the Federal Bureau of Investigation?
Our Mission. At the FBI, we do complex work to achieve a simple mission: to protect the American people and uphold the Constitution of the United States.
Our People. The FBI is staffed by more than 35,000 employees including special agents, intelligence analysts, and support professionals with an annual budget of approximately $8.7 billion in fiscal year 2016. (more…)
In the Journal of Accountancy, I found this short, yet very informative quiz (link below) provided by Andi McNeal, the director of research for the ACFE. It is extremely helpful for individuals unaware of the issues that they might experience in their businesses. (more…)
As a forensic accountant, I have been asked by many clients what the main difference is between a forensic accounting engagement and an audit. A forensic accounting engagement applies accounting, auditing, and investigative skills to examine, analyze, and report on financial information in a manner suitable to the court. (more…)