Forensic Accountant Essays

Forensic Accountant Essays Forensic Accountant Essay Forensic Accountant Essay Abstract Forensic accountant have the important task of analyzing, investigating and determine and discrepancies with any form of financial report, earning, fraud and hinting asset. To perform such task the individual much be accurate, patience and have a love for number, also helping people to dispute, recover and discovery any financial wrongdoing. The top five important and essential skills a forensic accountant would need to be successful in their line of work are knowledge of money, have a clear understand about the different laws and rules and regulations, be familiar with criminal nature, he proper schooling and training, and finally having auditing and organizing skills. These skills will allow for a forensic accountant to work efficiently, in this field working with money and numbers is the main emphasis in the form of analyzing and investigating financial statements and reports for signs of irregularities. Many attorneys has requested to assist in a case, such as divorces, economic damages, lost profits, business disturbance claims and business valuations. Within many cases they are asked to take the stand to help resolve issue stemming from civil dispute, analyze loans toa business interruption claims. Having knowledge of how the rule and regulations affect the legal system can prepare and assist with the court process and procedure. Schooling and training are two very important necessities to insure that the work can be done properly and accurately. Ideally, a forensic accountant should have passed the Certified Public Accountant (CPA) exam and met the corresponding ethical and licensure requirements; they are other certification that someone can obtain such as the Certified Fraud Examiner (CFE), Certified Insolvent and Restructuring Advisor (CIRA) outside getting the required Bachelor degree getting a Masters can enhance their chance of employment. : Having auditing skill will give the knowledge in collecting and analyzing, preparing, inspecting and review details for report, also examining and evaluating fraud, regulations, and financial information. I believe having auditing abilities is very important because that is the bulk of the work and requires you to work with numbers and money. All of these skills and more will help with successfully completing each and every assignment accurately whether its dealing with while collar or financial crimes. Being in the courtroom is very important ot only to the accountant but to the attorney as well, their task is to assist the attorney by identifying and providing needed information and helping the attorney to prepare for testimony, by reviewing various of documents and presenting truthful information to the court, though the advisers thoughts and opinions the attorneys can apply it to their legal strategy. Information and damages are submitted to an attorney in an effort to gain evidence before a case is presented to the court, the use of a forensic accounting can be used in both federal and civil court systems in favor f either the defendant or the prosecution with an unbiased opinion. Having strong knowledge of the court system and understanding the strategies that attorney can prepare the individual to take the stand and staying calm, answering any and all question clearly this will enable then to have a successful outcome. The role of the forensic accountant will vary from case to case, but the experience and expertise they bring to the attorney will help to put together or defend a case. Once a candidate has been identified, credentials have been satisfactorily and the nature of the ngagement has been described and agreed-upon, a confidentiality agreement should be agree upon as well as determining the fees and estimated duration of the job. Forensic Accountants assignment can last for extensive periods of time, depending on the depth and scope of the case. Furthermore, it is important that the Forensic Accountant have no personal or economic ties to the subject of the investigation. The role of a forensic accountant is to provide experience auditors, accountants, and investigators of legal and financial skills to a business operation. Their Job may ary and consist of looking into suspicions of fraudulent activity within a company or documents, to prevent fraudulent activities from occurring, damages, insurance claims and several other things. Once they are hired to provide these services it much be done accurately, timely, organize and truthful matter. Their work performed and reported can often provide answers to the how, where, what, why and who. Providing false information can lead to legal matter and or dismissal from employment. Also the company need and require truthful and accurate information for future and further investigation or legal action. Going through the process to select the right forensic accountant for the task at hand does not guarantee success, but doing so can increases the likelihood that the right person or firm will be matched to the Job at hand. Forensic accountant thou having experience in the court system they have also use their skill in convicting numerous of individual involved in some form of misleading information within the financial world. In recent news (November 13, 2013), John Donald Cody, a 66-year-old Harvard-trained attorney who was wanted by the FBI since 1987 he changed his identity and name to Bobby Thompson, authorities said they traced the name Bobby Thompson to a man whose identity was stolen, including his Social Security number and date of birth. He was later identified through his military fingerprint. The Army veteran was charged with racketeering, money laundering, records tampering, theft and identity theft. John Cody claimed he was a Navvy officer, and swindled the United States Navvy Veterans Association, a charity he ran from Tampa, Florida for more than 100 million. Authorities believe the defendant defrauded donors of up to $100 million in 41 states ince 2001, including $2 million in Ohio, on the appearance of helping Navvy veterans. Records show the defendant had showered politicians with political donations . This past Tuesday the Jury reached a verdict of guilty. The duties of the forensics accountant were to investigate the charity and trace by the fund that was donated to see how and where it was used. This case is known for one of the first FEMA fraud cases which came in 2005 the defendant, Daniel Bellegarde, a resident of Homestead, Florida allegedly deceived the Federal Emergency Management Agency of more than $11,000. Bellegarde allegedly filed false claims with FEMA saying that his home and furnishings were damaged by flood waters contaminated by raw sewage. He was among 14 people accused of receiving disaster relief fraud. He was charged with mail fraud, wire fraud and making a false claim, which can land him behind bar for 20 years. Even though Dade County experienced no hurricane conditions when Frances hit land in Martin County, FEMA gave out more than $31 million to almost 13,000 Miami-Dade residents. In total, the indictments allege about $1 50,000 in fraudulent FEMA payments . Bellegarde applied for FEMA funds on Oct. , about a month after Frances brushed by Miami-Dade County causing little damage. A few days later Bellegarde called FEMA; his home was inspected and received a check for $11,198. 90. Later, the Office of the Inspector General for the Department of Homeland Security, which oversees FEMA, began asking questions. Inspectors found no evidence that Bellegardes home had been damaged by the storm, the prosecutor said . Bellegardes little knowledge of English is one of several key issues under dispute in the case. Because his first language is creole the paperwork that he received was written in English and Spanish. They became suspicious of Bellegardes claim of the flooding in the house when they did not notice any stains or water damage in the home. According to the landlord he was never contacted about any complaints of sewage backups or storm damage from the defendant. Late that week he was found not guilty the seven men and five women on the Jury agreed that the government did not prove its case. The importance ofa forensic accountant in this case, were the amount of individual that were involve and the need to inspect, track fund and paper work to truly determine if indeed fraud was a motive from the ones involved in this case. Out of the fourteen people that were indicted and charged with FEMA fraud only 10 pleaded guilty and were later sentenced to probation and ordered to return the money, three are awaiting trail and one Mr. Bellegarde was acquitted. Within the last few years the economy has not been great, which has put many people in a situation to commit different forms of finance fraud, the demand for a quality and skilled professorial forensics accountant has been at all-time high. Forensic accountants are trained in the ins and outs of fraud schemes. Being hired to do Jobs such as investigative work and provide recommendations to lessen the possibility of raud activities from occurring. With the combination of experiences, knowledge, and ethic value will allow for a forensic accountant to perform at advance level. Bibliography Elmore, D. R. (n. d. ). MDD Forensic Accountants . Retrieved 11 17, 2013, from The Role of a Forensic Accountant as an Expert Consultant: http://mdd. com/the-role-of-a- forensic-accountant-as-an-expert-consultant/ Michael Frenza CPA/CFF, C. (2012, 03 12). Blumshapiro. Retrieved 11 17, 2013, from The Forensic Accountant: http:// blumshapiro. com/kbarticle/the-forensic-accountant ONeill, A. W. (2005, 6 16). Sun- Sentinel. Retrieved 11 17, 2013, from 1st Fema Fraud Trial Begins: http://articles. sun- sentinel. om/2005-06-16/news/05061 51 1 52_1 _bellegarde-s-claim-daniel-bellegarde- fema ONeill, A. W. (2005, 6 2005). sun-sentinel. Retrieved 11 17, 2013, from Defendant Not Guilty In Storm Aid Fraud Case: http://articles. sun-sentinel. com/ 2005-06-23/news/0506221459_1 _dantel-bellegarde-fema-jurors PRESS, T. A. (2013, 12 11). The Tampa Tribune . Retrieved 11 17, 2013, from Ohio Jury reaches verdict in fraud case involving Tampa charity: http://tbo. com/ohio-says-it-proved-lo o-million- charity-fraud-at-trial-20131113/

Avoid Awkward Joint Possessives

Avoid Awkward Joint Possessives Avoid Awkward Joint Possessives Avoid Awkward Joint Possessives By Maeve Maddox Sometimes the best way to deal with conundrums of jointly owned possessions is to retreat and rewrite, especially when one of the owners is represented by a pronoun. When the owners are named, the rule is straightforward enough: When two nouns are used to indicate common ownership, the sign of possession is placed after the second noun: â€Å"This is a picture of John and Mary’s house.† (two people own one house) When two nouns are used to show separate ownership, add the sign of possession to both nouns: â€Å"John’s and Mary’s cars are in the garage.† (two people, separate cars) These rules work with multiple owners, as long as they are all mentioned by name: â€Å"This is a picture of Sam and Jill and John and Mary’s time-share cottage.† (All four have joint ownership of the cottage.) â€Å"Sam’s, Jill’s, John’s, and Mary’s boats are tied to the dock.† (four separate owners of four separate boats) Once we try to replace a name with a pronoun/possessive adjective, however, things start getting uncomfortable. Refresher: Possessive adjectives are pronoun forms that indicate possession; they do not stand for nouns, but stand in front of nouns, like adjectives: my house /our house your house his house, her house, its house/ their house If we change â€Å"This is a picture of John and Mary’s house† to â€Å"This is a picture of John and her house,† we invite ambiguity. Is it a picture of a house belonging to John and Mary, or a picture of John standing by some woman’s house? The usual way an English speaker would get round the problem would be to say â€Å"This is a picture of John’s and her house.† But this would break the rule that reserves the mark of possession for the last partner in the joint construction, although few speakers would fret about it. It’s when pronouns replace both nouns in a joint possession that rewriting the sentence altogether is called for. The following examples were taken from the media: The Chancellor will talk about he and his wife’s relationship. The body was found in her car at she and Kidd’s home in Harrison. The first example is from TV. The use of he is completely out of the ballpark because he is a personal pronoun, not a possessive adjective. We don’t say, â€Å"he wife† or â€Å"he relationship.† The announcer could have avoided the problem by rephrasing the thought as â€Å"The Chancellor will talk about his relationship with his wife,† or â€Å"The Chancellor will talk about his marriage.† The second example is from a news item about a man named Kidd who was suspected of killing his wife. Kidd’s wife had a different surname, a fact that apparently bothered the editor who changed the reporter’s original copy from â€Å"The woman’s body was found in her car at their home in Harrison† to â€Å"The body was found in her car at she and Kidd’s home in Harrison.† As with the first example, a personal pronoun is being used in place of a possessive adjective. We can talk about â€Å"her home,† but not â€Å"she home.† Explaining joint possession can be tricky. Take time to rephrase. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Style category, check our popular posts, or choose a related post below:Creative Writing 101How Long Should a Paragraph Be?Particular vs. Specific