In addition to establishing an ethical environment, board members and management must also take the lead in implementing and maintaining a formal fraud risk management program. One key element of such a program is a fraud risk assessment.
In one of his early short stories, F. Scott Fitzgerald famously wrote: “Let me tell you about the very rich.
We seem to forget things that don’t interest us or are no longer useful. The problem, however, is that in
Forensic accountants are routinely engaged to assist in the calculation of lost profits and economic damages in various types of litigation. One such engagement is assisting attorneys in calculating and/or reviewing calculations of tax loss attributable to alleged fraud committed by a defendant. These tax loss calculations are relevant when a court is determining the length of sentence for a defendant in criminal tax litigation.
A healthy dose of professional skepticism is essential in fighting fraud, even if it goes against human nature to be
The risk of fraud is a serious concern for all types of enterprises, but fraud can be particularly damaging to
” … Subdue the enemy without fighting.” —Sun Tzu The U.S. Foreign Corrupt Practices Act has been setting an ever-lower