different types of forensic accounting cases
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different types of forensic accounting cases
Who all has gotten caught by forensic accountants and how did they get caught.
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Case Examples - Forensic Accounting, Litigation Support, Tax and Accounting - Seattle, Bellevue, Issaquah

Case Examples - Forensic Accounting, Litigation Support, Tax and Accounting - Seattle, Bellevue, Issaquah | different types of forensic accounting cases | Scoop.it
Albretsen Consulting LLC is an accounting and consulting firm that provides specialized services to the legal community, private and public businesses, government agencies, and individuals throughout Western United States and beyond.
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Ben Spadaro's comment, March 13, 2013 6:12 PM
There was a trucking company that found out that one of its employees was selling them computers at an inflated price through his fake computer business. They documented the sales of computers at inflated prices to the company for 3 years. they traced $4 million in cash to the employees investment account. Fortunately the business was able to recover most of the money it had lost.
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Interview

Interviewee: Richard Riley

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Ben Spadaro's comment, March 12, 2013 9:49 AM
Q:What do you enjoy most about being a forensic accountant?
A: I enjoy the problem solving aspect the most and i enjoy digging for information to present in front of lawyers and in court to prove weather or not a business is lying. I also like it because you have to find out all your information yourself from what is given and look for the clues.
Q: How long are cases on average?
A: Cases may vary in length, I have had cases that last 2 or 3 days and I have had some that last 2-3 years. My role may only be 300-500 hours in a case though. I have to meet with attorneys possibly 2 or 3 times in a case to figure out the next step. Then you have to write a report on what you have found and present your case in court.
Q: What are some potential red flags in a business?
A: Some may be small cash flow and you have to convert them to the financial books to see if they are correct also checking tax returns and finding cash flow not being there and you then have to look back to the balance sheets.
Q:What are your favorite cases to work?
A: I would have to say corporate contract disputes where one corporation may accuse another for putting them out of business and you have to take both sides of the story and then check their records to find out what story is correct and prove the other side wrong.
Tami Yaklich's comment, March 21, 2013 7:40 PM
Interviewee's credentials? Contact info?
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Famous Forensic Accounting Cases

Famous Forensic Accounting Cases | different types of forensic accounting cases | Scoop.it
On its face, the field of accounting may seem anything but glamorous. Compared to the famous fictional sleuthing of forensic specialists like Sherlock Holmes and "CSI"'s Horatio Cane, the bespectacled accountant seems drab and boring.
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Ben Spadaro's comment, March 12, 2013 8:06 AM
Blasting his way through the streets of Chicago, Al Capone could manage to slip away from the best FBI agents and detectives. The gangster was eventually brought down in 1993 by a group of accountants who caught him for tax evasion. They tracked all his earnings and then caught him when he didn't post them on his tax return.
Ben Spadaro's comment, March 12, 2013 8:14 AM
In divorce cases attorneys are using the skill of forensic accountants to get all that they can for their client. Richard Friedman, a New York forensic accountant is making a killing off divorce cases by helping uncover hidden money. He can sort through a family's financials and find hidden money from a spouse that they thought was well hidden. An example of his work is he found $2 million that was transferred to his girl friend. He simply found this by reading all of the paperwork.
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Forensic Accounting Case: One Forensic Accountant Can Handle Several Cases Efficiently

In this article we have discussed all about forensic accounting case and how they are efficiently handled by financial accountant. Read the article to get full information regarding forensic accounting case.
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Ben Spadaro's comment, March 13, 2013 5:51 PM
A forensic accountant is a well qualified professional that can handle the matters of property crime, business fraud, and money laundering. They can also help cases dealing with civil disputes, domestic struggle, and family law cases. They have a unique set of skills that they gain as they get further into cases. They can also trace a businesses assets and financial information to help find clues.
Ben Spadaro's comment, March 13, 2013 5:56 PM
If a business suspects fraud or money laundering it hires a forensic accountant to dig deeper and investigate the problem. Their job is to analyze the business structure and trace anything that seems to be wrong. Many companies can benefit from their ability to trace business's criminal actions and forensic accounting cases. Their ability to do their work in the fraud accounting cases saves companies time and money as well as energy.
Ben Spadaro's comment, March 13, 2013 6:02 PM
Many business companies suggest to install proper strategies to prevent the misuse of money in the future. Looking at forensic accounting cases that are in need of being solved, some are a breach of contract, personal injury claim, contract related damages and losses, warranty claims etc. Forensic accountants are qualified to help in arguments rising over valuation and property division among estate's heirs and related trial.
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HowStuffWorks "Forensic Accounting Cases"

HowStuffWorks "Forensic Accounting Cases" | different types of forensic accounting cases | Scoop.it
Forensic accounting involves investigating crimes within the field of finance. Learn why forensic accounting is important to government and big business.
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Ben Spadaro's comment, March 11, 2013 8:14 AM
Though the ways forensic accountants solve cases are similar, there are different types of jobs that can vary. An accountant working for the government will investigate a corporation to prove them cheating the system but a small company may hire a independent consultant to catch his book keeper stealing money. It is very difficult to find cases on forensic accounting because many businesses don't want the publicity of financial mis handling.
Ben Spadaro's comment, March 12, 2013 8:00 AM
Forensic accountants are also used to find hidden money during high-profile divorce cases. An example would be Paul McCartney had claimed he was only worth $785 million, but when his ex wife hired an accountant to uncover his assets he was worth about $1.6 billion. This will help her to get a larger settlement and get the money she deserves.
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Teacher comments

Ben Spadaro's insight:

Teacher comments

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Tami Yaklich's comment, March 20, 2013 9:42 PM
Some of your paraphrases are close to the original passages!
Tami Yaklich's comment, March 20, 2013 9:42 PM
Good info, but make sure you are focused on proving a thesis!
Tami Yaklich's comment, March 20, 2013 9:42 PM
Score: 30/30