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Insights: Forensic and Litigation

Frank Pina Receives Distinguished Achievement Award from Association of Certified Fraud Examiners

The Mercadien Group congratulates managing director and co-chair of its Forensic & Litigation Support Services Group, Mr. Frank Pina, CPA, CFF, CFE, CGMA, who was bestowed the Distinguished Achievement Award for meritorious service in the detection and deterrence of fraud by the Association of Certified Fraud Examiners’ (ACFE) Board of Regents at the 26th Annual…

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Lessons to Lessen Business Divorce Disputes

Whether between partners in life or partners in business, disagreements are inevitable.  As with those in life, some business relationships become irreparable, ultimately leading to a business divorce.  This is a term used to describe a situation where partners split for one reason or another, often resulting in lengthy and expensive litigation.  Many who have…

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Philadelphia Controller’s Office Releases Results of Independent Accountant’s Examination by Mercadien

The Office of the Controller of the City of Philadelphia, PA announced that it received and responded to the results of its first independent, external accountant examination in more than twenty years.  It was conducted by the Compliance Oversight and Government Services Groups of Mercadien, P.C., CPAs. Read the Controller’s Office press release announcing the…

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Using Social Media as an Investigative Tool

Traditionally, social media was known as a web-based platform that allowed users to create, share or exchange information through virtual communities and networks. Today, the number and types of social media, and the people using them, continue to rise. It has been found, however, that employees often present a very different persona on social media…

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The Equifax Data Breach – What to Do

On September 7, 2017, Equifax, one of the three main credit reporting agencies, announced a massive data security breach that exposed vital personal identification data— including names, addresses, birthdates, and Social Security numbers on as many as 143 million consumers, roughly 55% of Americans age 18 and older. This data breach was especially egregious because…

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Fighting Fraud in the School Yard

In the last decade, there were numerous reports of fraudulent acts committed by school officials, many resulting in criminal indictments and jail sentences for the perpetrators, as well as significant monetary costs and adverse publicity for the victimized school districts.  More recent media headlines identifying fraud in schools again remind us that investigative audits are…

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To Audit or Investigate: That Is The Question…

Internal audits serve to provide independent assurance that a company’s risk management, governance and control processes are operating effectively, and address issues that are fundamentally important to the survival and prosperity of the organization.  For example, internal auditors often look beyond financial information and consider broader issues such as the company’s reputation, competitive landscape, environmental…

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Surprise Audits Can Stop Fraud in its Tracks

Over the years, the Association of Certified Fraud Examiners (ACFE) has consistently estimated that occupational fraud costs the typical organization 5% of its revenue annually. In its most recent biennial report on occupational fraud, the ACFE found that the median loss caused by fraud was a whopping $145,000. Clearly, no organization can afford to ignore…

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Protecting the Public Through Forensic Investigations

Recent headlines involving fraud, waste, and abuse within the public sector serve as constant reminders that conducting proactive audits in organizations are critical to cultivating success and accountability.  These audits may uncover issues and identify findings that give rise to the need for an in-depth forensic investigation.  The role of CPAs has expanded to include investigative accounting…

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Legal Intelligencer Features Frank Pina Article on Employee Dishonesty Investigations

Employee dishonesty has long been defined as the intentional misappropriation of cash or merchandise from a company by an employee. Recent trends, however, point to a dynamic shift in these acts and a more complex definition, mainly to include increasingly sophisticated fraudulent schemes spanning several years and often involving financial professionals and the use of…

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