Sequence Inc. Forensic Accounting & Fraud Investigation

Tracy L. Coenen,

CPA, MBA, CFE

Read about Tracy's

Fed's New Mortgage Rules Won't Stop Fraud

As the panic continues about the “subprime mortgage crisis,” pressure has been put on regulators to do something to stop mortgage fraud. The “crisis” has been blamed largely on corrupt mortgage brokers, and so last week the Federal Reserve adopted new mortgage regulations.

How to Stop Employees From Stealing

Did you know that there are companies out there that are actually encouraging employees to steal? Find out what companies need to do in order to stop their employees from stealing. Management needs to actively discourage unethical behavior and take action against those who violate the rules.

Career to Count On: Accounting More Popular Than Ever

Accounting careers are hot, and probably none more than forensic accounting. It has sex appeal for the younger generation, with an exciting twist on traditional accounting roles. Chasing down the bad guys sounds much more fun than adding up a column of numbers. Read the whole article from AOL and CareerBuilder.

Identity Theft a Huge Problem for Small Businesses

Small businesses often fail to take precautions to protect confidential data, believing they're too small to become a target of identity thieves. But why take any chances? A theft of data could cost your company customers and your reputation. Read about some simple steps to protect customer information.

What is Forensic Accounting?

Forensic accounting is a specialty within the field of accounting that incorporates investigative skills, knowledge of technical accounting concepts, and the ability to apply both of these to real-world situations involving, theft, fraud, and legal disputes. A common term for a forensic accountant is also an "investigative accountant."
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Corporate Fraud, Financial Statement Fraud, and Embezzlement

Employee dishonesty can occur at all levels of a company, but the most costly frauds are committed by executives and upper management.

The most common type of internal fraud is asset misappropriation, which involves the theft of cash, inventory, customer payments, payroll funds, and other company property. Although this type of fraud occurs most often, the amount of money lost through each of these frauds is relatively low.

The most expensive type of internal fraud is financial statement fraud. The manipulation of financial statements often causes losses in the millions of dollars. It is often more difficult to detect than other types of fraud, as managers and executives may be colluding to alter financial records.

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