World Economic Crisis Not Just U.S.; Small Family Businesses Find Help From Small Banks

Posting by Geoffrey D. Brown, CPA, Principal

I recently returned from the Family Firm Institute annual conference in London, where we had a chance to hear John Micklethwait, the Editor-in-Chief of The Economist magazine, speak about the state of the global economy. It would seem to me that despite our economic woes here at home, that the rest of the world, particularly emerging markets, is in much worse shape.

On another economic note, while in London, a Brit was telling me […]

January 23, 2009 Family Owned Businesses Read more...

Unsuspecting Victims of Fraud

John Merchant, CPA CFE

Several weeks ago, investors who had placed their funds with Bernard Madoff were shocked to learn that he had been charged with operating a Ponzi scheme that may very well cost those investors all of their money.  Now, other investors are beginning to discover that they too may be victims.  Investors who purchase shares of mutual funds, hedge funds and other investment vehicles often do not know exactly how the managers of those funds invest the […]

January 19, 2009 Accounting, Forensic Accounting Read more...

How the Ponzi Scheme and Fraud May Have Destroyed Charities

John Merchant, CPA, CFE

In December, Bernard Madoff was charged with securities fraud by federal authorities who allege that he ran a multi-billion dollar Ponzi scheme—paying one set of investors with money from another.  It is now reported that Madoff’s alleged scheme, which is one of the largest in history, may have caused the collapse of one the largest charitable foundations in the U.S.  According to the Boston Globe, the Picower Foundation, which has made significant contributions to medical research, […]

January 14, 2009 Accounting, Forensic Accounting Read more...

Online Resource On Identity Theft and Identity Fraud Now Available

John Merchant, CPA, CFE

Identify theft and related identity fraud have become an epidemic in the United States due to technological advances and the increasingly accessibility of information.   The Internet is one of the major contributors to this problem and even the non-tech savvy individuals are able to commit the crime.  To educate the public, the U.S. Department of Justice has established an Internet website to provide information on identity theft and related identity fraud.  The site provides information about […]

January 14, 2009 Accounting, Forensic Accounting Read more...

Bond Beebe Principal Becomes Certified Forensics Expert

Natalie Burchfiel

BETHESDA, Maryland (December 23, 2008) – Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, announced today that John A. Merchant, a Principal with the firm, has recently been awarded the Certified in Financial Forensics (CFF) Credential by the American Institute of Certified Public Accountants (AICPA).  The CFF Credential was established in 2008 by the AICPA and is granted to qualified Certified Public Accountants (CPAs) with considerable professional experience in […]

December 23, 2008 Accounting, Forensic Accounting Read more...

Payroll Auditors as Witnesses

Posting by Larry Beebe, CPA

Andy Staab is writing a series of articles for us on tips to payroll auditors when asked to testify in a deposition, trial or other legal proceeding.  The first two articles have been posted in the articles section of this blog.  Take time to read them and check later for the continuation of this series.

December 5, 2008 Firm News & Events, Payroll Audit Read more...

Payroll Auditors as Witnesses

Posting by Larry Beebe, CPA

Andy Staab is writing a series of articles for us on tips to payroll auditors when asked to testify in a deposition, trial or other legal proceeding.  The first two articles have been posted in the articles section of this blog.  Take time to read them and check later for the continuation of this series.

December 5, 2008 Payroll Audit Read more...

Payroll Audits Must Uncover Who is Doing Covered Work

Posting by Phil Vivirito

I just finished a payroll audit of a small burger joint/ bar. The CBA covered everyone in the restaurant. There were seven employees on payroll but only two were reported. I picked up the five employees not reported and when finished reviewed the findings with the employer’s accountant. According to the accountant, of the five employees not reported, one was a supervisor, one was the assistant manager, one was the night manager, and one was the […]

November 25, 2008 Payroll Audit, Uncategorized Read more...

Collective Bargaining Agreement Terminology – Why it is Important for Payroll Auditors to Understand

Posting by Phil Vivirito

Successor clause, decertification, market recovery plan, union security, dues check off, working assessments… These are just some of the terminology that may be found in collective bargaining agreements. Some terminology in the collective bargaining agreement may affect the payroll audit and some may not. It’s a good idea for payroll auditors to be educated on the terminology that can be found in collective bargaining agreements. It will help the auditor know what relates to the payroll […]

November 10, 2008 Payroll Audit Read more...

Payroll Auditors as Witnesses – Fund Counsel’s Perspective

Posting by Andrew Staab,

Payroll Auditors should add “Part-time Litigation Witness” to their job descriptions, because there is always a possibility they will have to explain the document on which a Fund relies to collect from a delinquent employer.  Being a witness is more difficult that you think, and sometimes a deposition or a trial will have landmines waiting for a witness to trigger.  If properly prepared, the witness should avoid damage to the Fund and harm to the reputation.

The […]

October 28, 2008 Payroll Audit Read more...