Blog

Cold Case and Forensic Accounting: Awesome Exposure For Our Field!

Cold Case – my favorite show (not that I watch much television) Tonight’s episode – The team probes the death of a woman whose dot.com company crashed. Sitting around the table, reviewing a table covered in financial documents relating to potential insider trading (short selling) of the victim company’s stock Investigator Danny Pino (Scotty Valens) says, “can’t we call some …

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Cloud Computing: Serious Considerations In Externalizing Your Data

Access and security – two major considerations when contemplating moving your systems and information from internally-maintained systems onto platforms and solutions hosted through the Internet.  Company files, patents, trademarks, proposals, customer lists, vendor lists, price and cost arrangements – this type of data arguably comprises the most valuable components of any business or organization.  How and where this critically sensitive information is accessed and stored is vital to ensuring their value.  Prior to “cloud”computing, the migration to Internet-based systems and storage of information, every company internalized their systems and data.  Access, security, safeguarding… were all directly addressed by the business mainly through in-house systems and solutions.  Physical safeguards could be as simple as maintaining a secure area within one of your own buildings.  In the end each business had a direct connection to their systems and information, housed mainly in-house.  Fortunately or unfortunately, more and more IT has been, and continues to be, shifted to external on-line solutions, relying on the controls, policies and procedures of other third-party outside entities established by contract to ensure the security and safeguarding of your information.

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Embezzlement Explanation (or rationalization) of the Day…

$10.4 million embezzlement, $10,400,000, stolen over a little more than three short years, to support a “significant gambling problem?” First, how much investments could a firm manage or maintain to not miss $10.4 million dollars?  I am left wondering how this amount was not missed for over three years, and how controls that I would expect implemented by any investment …

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And incidents of theft and embezzlement continue, and continue…

Day after day I receive Google notifications containing news articles relating to embezzlement.  On any given day, somewhere between twelve and twenty different notifications are delivered to my in-box, some with only one news article or post, while others contain several different cases.  It amazes me just how much theft is occurring, and when you take into consideration only one …

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Smart phones, new apps (every day!), and their related potential for financial crime

iPhones, iPads, Blackberries, Androids, tablets, and all their related devices released almost weekly have driven most users’ computing habits to the world of wireless.  It’s a double-edged sword.

Computing evolved from mainframes to desktops, laptops to tablets, becoming more “personal” with each leap of evolution.  Most users of these devices today simply access the Internet, social platforms, email, and commonly used programs via inexpensive “apps” which they can select and install on their handheld devices almost instantaneously.

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