Forensic Accounting Essentials

To President Barack Obama: Within a couple of years, you can expect a massive crime wave on an unprecedented scale resulting from spending trillions of extra taxpayer dollars to stimulate the economy and bail out the financial sector in a relatively brief period of time. Not enough attention is being paid to effective internal controls to prevent such crimes. The FBI and other law enforcement agencies do not have enough resources to effectively investigate and prosecute such crimes. The Republi

from the NEW YORK DAILY NEWS: Exclusive Contractor Bovis Lend Lease under investigation for overbilling on Citi Field, 9/11 Memorial By Doug Feiden and Greg B. Smith DAILY NEWS STAFF WRITERS Friday, June 5th 2009, 2:31 AM Bates for News Citi Field is one of several projects prosecutors are investigating contractor Bovis Lend Lease for overbilling. Prosecutors are investigating allegations of overbilling by a major contractor at the Sept.11 Memorial,

(ChattahBox)—There’s an intriguing and very long piece in this week’s Fortune magazine by James Bandler and Nicholas Varchaver delving into the psyche of Bernie Madoff, one of the largest Ponzi scheme crooks in American history, asking the question of “How Bernie did it?” And more importantly how did such a blatant Ponzi scheme, amounting to an astonishing $65 billion (on the cooked books anyways), escape the notice of the Securities and Exchange Commission for 20 years? The answers are at

Steve Wells, a forensic accountant and Western Kentucky University professor, said the bank sugarcoated its numbers by relying on management estimates and ignoring future credit losses. “That’s a red flag to me,” he said. “Big time.” …

A few weeks ago, I testified as a Forensic Accountant Expert Witness in a theft by embezzlement case in Caldwell County for Special Prosecutor, Tom Garner. After the prosecution phase with the police officer who investigated the matter, …