Fraud & Forensic Accounting Section
The growing complexities of commerce have increased the need for CPAs who specialize in addressing today’s new market challenges. Fraud is a chief concern for businesses of all shapes and sizes. What are the red flags? Given the current recession, what issues should you be tracking? Explore the latest developments in fraud and forensic accounting and stay on top of regulations and trends as a member of the growing Fraud & Forensic Accounting Section.
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Sep 01, 2011
What’s your risk appetite? The Institute of Risk Management (IRM) has issued draft guidance on this new and evolving concept that isn’t well understood outside the financial services sector. Risk appetite needs to be understood by organizations that want to implement enterprise risk management effectively.
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Sep 01, 2011
Small and medium-size businesses in the U.S. lost more than $11 million over the past year in online scams in which stolen banking credentials were used in fraudulent wire transfers to companies in China, the FBI said.
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Sep 01, 2011
More than a third of the surveyed corporations (35%) reported that the financial crisis had directly resulted in an increase in the likelihood of fraud, according to the Deloitte 2011 Gulf Co-operation Council (GCC) fraud survey.
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Sep 01, 2011
The Internal Revenue Service found over 245,000 identity theft incidents last year, according to a GAO report assessing the IRS’s efforts to stem the growing problem. Since 2008, the IRS has identified 470,000 incidents of identity theft affecting more than 390,000 taxpayers. The thieves typically steal, or attempt to steal, the victim's tax refund.
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Sep 01, 2011
FASB and the IASB have decided to follow different paths in how companies will offset financial assets and financial liabilities, especially derivatives, on the face of the balance sheet.
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Sep 01, 2011
After coming under fire in recent years for not pursuing fraud cases against individuals, the SEC is changing its tactics. And the agency is wasting no time getting down to business by going after individuals who commit fraud, even if they do so unintentionally.
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Sep 01, 2011
Senior executives are committing more fraud according to a global KPMG survey, which found that CEOs were involved in 26% of cases – up from just 11% in a similar 2007 survey.
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Sep 01, 2011
The IRS has announced its annual list of tax scams to avoid. The list, referred to by the IRS as the "dirty dozen" tax scams, was recently published for 2011.
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Sep 01, 2011
The SEC has updated its rulemaking deadline schedule, postponing target dates on some of the Dodd-Frank Act's rules.
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Sep 01, 2011
The SEC launched a website to gather tips as its new bounty program for whistle-blowers officially begins.
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