Forensic and Litigation

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…

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…

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…

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…

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…

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…

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…

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…

In years past, employee dishonesty was recognized in straightforward terms, mainly involving the intentional misappropriation of cash or merchandise from a company by an employee. However, trends today demonstrate a dynamic shift towards sophisticated fraudulent schemes spanning several years, often involving financial professionals and the use of computers. Due to less stringent or non-existent regulatory…

Many of us have overheard or joined discussions with friends and colleagues regarding bitcoin.  Perhaps you have skimmed articles discussing its potential as a commodity or its future demise as a widely-accepted form of digital currency.  Nevertheless, bitcoin continues to gain supporters and detractors based upon the perceived benefits and risks associated with its use.…