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Leveraging the New Fraud Risk Management Guide in your Practice

Release Date: 05/16/2024

Forensic and Valuation Services (FVS)

While it has been thousands of years since the Greek mathematician, Thales, developed the first known option contracts to corner the market for olive presses ahead of the annual harvest, financial instruments continue to proliferate in both type and complexity. Faisal Lakhani of CBIZ Valuation Group specializes in advising clients in this area and shares his expertise to provide an overview to help us better understand what these instruments are, and how they are valued, including: Categories and classification of complex financial instruments Valuation approaches and methods Influence...

The Bankruptcy Briefings – Navigating Financial Rebirth, Part 2

Forensic and Valuation Services (FVS)

Josh Shilts meets with fellow pod squadder Elizabeth Woodward to hear about her unique entry into bankruptcy-related work. Elizabeth discusses her path, the diverse businesses she has managed as a fiduciary, and the differences that exist when testifying in a non-confrontational forum. Her role often requires her to be accountable to the court and creditors, ensuring transparency and integrity throughout the bankruptcy process. Guest: Elizabeth Woodward, CPA/CFF, CFE, Forensic Accounting Director, Dean Dorton Host: Josh Shilts, CPA/ABV/CFF/CGMA, ASA, CFE. Shilts CPA, PLLC ...

Increasing Engagement with FVS Emerging Professionals

Forensic and Valuation Services (FVS)

Dave and Greg's conversation underscores a universal truth in any career path: mentoring is critical for the nurturing of emerging professionals - new hires, and those in career transition, during their first 5 years as a valuation professional. It plays a crucial role in career development and organizational culture, as well as allows the mentor to: Share the enthusiasm for the work they do, and the desire to keep learning Make sure students and younger professionals know that BV is a career path if Accounting, Auditing, or Tax is not their jam Make sure emerging...

Leveraging the New Fraud Risk Management Guide in your Practice

Forensic and Valuation Services (FVS)

The Fraud Risk Management Guide provides a comprehensive framework for assessing and managing fraud risks in any organization. Elizabeth, Jonathan, and Lynda discuss the guide and its benefits for AICPA members. The guide is a joint product of the Committee of Sponsoring Organizations (COSO) and the Association of Certified Fraud Examiners (ACFE) with contributions from various organizations and experts, including the AICPA. The guide can help practitioners audit their fraud risk management programs, train and educate board members and other stakeholders, benchmark their performance against...

Keeping Reasonable Comp Reasonable

Forensic and Valuation Services (FVS)

Jessica and Jordan join us as we delve into the topic of reasonable compensation adjustments in business valuation. Our experts discuss various methods for calculating reasonable compensation, identify available sources of information, and share their insights on applying professional judgment in determining when an adjustment is warranted. Don't miss this opportunity to learn how to recognize, apply, and distinguish between sources for reasonable compensation. Guests: Jessica Landay, ABV, ASA, CVA, MAFF, Harper Hofer & Associates, LLC Partner Jordan Graves, CPA/ABV, CFF Cooper...

The Bankruptcy Briefings – Navigating Financial Rebirth, Part 1

Forensic and Valuation Services (FVS)

Get set for the first of a series of episodes highlighting opportunities for FVS practitioners in bankruptcy, Ken and Josh “sit” to discuss some of the tenets of his practice. Ken tells us about the types of bankruptcy (Chapter 7, Chapter 11, etc.) as well as the services that FVS practitioners can provide. We also hear about the types of clients (i.e. attorneys, debtors, creditor committees, etc.) as well as best practices advice from Ken on managing a bankruptcy practice. Guest: Kenneth DeGraw, CPA/CFF, CFE, CFP, Partner, Forensic & Valuation Services, Withum Host:...

Real Estate in the Valuation of Operating Entities and Holding Companies

Forensic and Valuation Services (FVS)

There are nuances to dealing with real estate in the valuation of operating companies or real estate holding companies. Lisa and Chris tackle the important considerations for business valuation appraisers such as: Implications for your analysis and the applied valuation approaches, as well as your overall conclusion of value Tax consequences due to built-in capital gains The nature of right-of-use assets and liabilities Guests: Lisa Cribben, CPA/ABV, ASA, CMA, Partner, Hawkins Ash CPA Chris Volz, CPA/ABV/CFF, ASA, Partner, Wipfli LLP Host: Greg Saunders, CPA/ABV, ASA,...

Eye on Fraud - Too Good to be True: Ponzi Schemes

Forensic and Valuation Services (FVS)

Once a Ponzi scheme has been exposed as a financial fraud, a forensic accountant’s skills are instrumental in the investigation of the fraud and assessment of damages. The Eye on Fraud authors, Rumbi and Kathy, share: What is a Ponzi scheme vs. a pyramid scheme vs. multi-level marketing How and why Ponzi schemes draw in victims Ponzi scheme red flags Guests: Rumbi Bwerinofa-Petrozzello, CPA/CFF, CFE, Head of Strategy, Consulting, Seramount Kathy Bazoian Phelps, Esq. Partner, Raines Feldman Littrell LLP Host: Elizabeth Woodward, CPA/CFF, CFE, Forensic Accounting Director,...

Insights for Navigating Common Issues in Business Valuation

Forensic and Valuation Services (FVS)

While each business valuation assignment may be unique, there are often common themes and issues that typically arise. Understanding how different practitioners may navigate those issues can provide helpful guidance and reassurance when undertaking an engagement. Since Ethan Lee and Monica Caswell focus their efforts on different valuation niches, they were able to provide their specialized insight regarding the following topics: Undertaking limited-scope engagements Managing client expectations Avoiding biases in your conclusions Common errors observed in opposing experts’ analyses...

High Times for CPAs? – Forensic Accounting Services in the Budding Cannabis Industry EXTRA

Forensic and Valuation Services (FVS)

Clay and Howard got into the cannabis industry because it presented interesting opportunities to serve new clients in a growing industry. The learning curve has been steep given the regulations and cash-based nature of the business, and building trusted relationships is key to success. Forensic accountants can play an important role as the industry matures and consolidates. Especially to help sort out Profitability issues that lead to litigation Due diligence for mergers and acquisitions Investigating fraud risks Guests: Howard M. Silverstone, CPA/CFF, Executive...

More Episodes

The guide is a joint product of the Committee of Sponsoring Organizations (COSO) and the Association of Certified Fraud Examiners (ACFE) with contributions from various organizations and experts, including the AICPA.
The guide can help practitioners audit their fraud risk management programs, train and educate board members and other stakeholders, benchmark their performance against best practices, and remediate any identified issues.

Guests:

Lynda Schwartz, CPA/CFF/CGMA CFE, University of Massachusetts Amherst, Director of Forensic Curriculum
Jonathan T. Marks, CPA, CFF, CITP, CGMA, CFE, & PI, Partner, BDO - Forensic & Investigation Services

Host: Elizabeth Woodward, CPA/CFF, CFE, Forensic Accounting Director, Dean Dorton

Please share your thoughts about the episode - click here to leave us a review

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION
If you’re using a podcast app that does not hyperlink to the resources, please visit
https://fvssection.libsyn.com/fvs to access the show notes with direct links.

Fraud Risk Management Guide, 2nd Edition (FVS Section members see below)
Fraud Risk Management Guide (second edition) Executive Summary
Managing the Business Risk of Fraud: A Practical Guide

Available as a benefit to FVS Section members

This podcast episode is part of the extensive resource library available from the AICPA’s Forensic and Valuation Services Section, the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online, and if you’re not already a member, consider joining this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content, including BRGonline, Daubert Tracker, and Merger Shark.

LEARN MORE ABOUT
Accredited in Business Valuation(ABV) – Visit the home page and/or check out the ABV Infographic

Certified in Fraud and Forensics (CFF) - Visit the home page and/or check out the CFF Infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

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