Forensic accounting is a branch of finance that integrates investigative abilities with financial acumen. Forensic accountants sift through financial records, track out financial transactions, and deduce what transpired at various businesses. Money laundering, embezzlement, tax fraud, and other financial crimes are all investigated by forensic accountants. A forensic accountant must acquire various skills in order […]

Non-fungible tokens are a type of digital crypto asset that represents real-world objects such as art, music, videos, and in-game items.  Like other types of cryptocurrency, they are bought and sold online and encoded with an underlying software. Characteristics of Non-fungible Tokens Non-fungible tokens are a unique type of cryptocurrency.  While most cryptocurrencies are infinite […]

When someone steals money or other assets from you through deceit, unfair, misleading, illegal conduct, or false business practices, this is referred to as financial fraud. You might lose your hard-earned funds if you fall victim to financial fraud. Fraudsters steal money or asset and use them illegally or with the purpose of gaining benefit […]

Business fraud, often known as corporate fraud, refers to illegal acts carried out by an individual or a corporation in an unethical and dishonest manner. Business fraud is intended to benefit the person or business committing it. According to studies, the average organization loses 5% of its income to fraud each year. In reducing this […]

As the COVID-19 pandemic continues to present challenges in all areas of life, it is important for CPAs to stay informed about the newest and most prevalent COVID-19-related fraud schemes and scams.  COVID-19 has opened up new opportunities for fraudsters to steal from individuals and businesses.  This blog post highlights some of the latest tactics […]

Outsourcing is one of the most effective business choices for streamlining processes and expanding a company’s reach. When finance and accounting tasks are assigned to an outsourcing company located in a different geographical location, mostly a low-cost country, is referred to as offshore accounting. Accounting is an important aspect of every company. Companies must maintain […]

The large number of federally-funded programs created as part of the financial stimulus to offset COVID-19 pandemic losses have changed the single audit requirements immensely.  In addition to many new programs, which started at the beginning of 2021, there are programs that started mid-year as well as older programs that added new requirements.  More than […]

Expense fraud, according to the ACFE, is when an employee claims compensation for false or exaggerated expenditures. Expense fraud is a big problem that most organizations’ accounting and finance departments are dealing with. Managing cost spending and preventing fraud is crucial to protecting an organization’s financial resources since it is the second-highest indirect expense after […]

There are sure to be some surprises in Tax Year 2021, although certain adjustments are already in the works. In this blog, we will highlight some of the IRS’s 2021 tax phase-outs, modifications, and inflation adjustments. There are numerous advantages to budgeting your finances. Most of which is effective financial planning, which will help you identify […]

For a number of fear-based reasons, businesses are typically reluctant to share financial information with their employees. While every firm has the discretion of sharing which numbers with whom, those who choose to share with workers may handle this difficult subject with ease. During crunching times, such as COVID-19, that we are currently experiencing, it […]