Arizona’s Requirements for Reporting Unclaimed Property

It is common as an accountant to see a business void an un-cashed check after a while or to write off an over-payment from a customer who hasn’t returned in a couple years.  It seems that few people know that it is required by Arizona law to report and remit unclaimed property to the Arizona …

Keep Reading

ACFE 2012 Global Fraud Study Findings Relating to Occupational Fraud Prosecution and Litigation

The Association of Certified Fraud Examiners (ACFE) recently issued its 2012 Global Fraud Study entitled “Report to the Nations on Occupational Fraud and Abuse.” The Report provides an analysis of almost 1,400 fraud cases investigated worldwide and contains data and findings related to the nature and costs of global fraud. As a forensic accountant specializing …

Keep Reading

Open Enrollment

Open Enrollment Time Again – As a Plan Administrator what questions should you be asking yourself? • First and foremost you should ensure that the Plan Document and your Summary Plan Description (SPD) is up-to-date and supports the plan administrative practices that the Plan Administration has put into place.  For example, if your Plan Document states …

Keep Reading

The Importance of Gifting in 2012

Gary Ringel was recently featured as a guest on What About Wealth? Internet broadcast on August 7, 2012.  What About Wealth? is a live Internet radio program and syndicated podcast on VoiceAmerica Business Channel hosted by Rich Bloomfield and Rick Durfee.  The subject of the broadcast was the latest news on gifting opportunities and the …

Keep Reading

Fraud Alert – Skimming

The Office of the Auditor General recently issued a fraud alert related to skimming, which is a scheme where cash is stolen before it is recorded.  There are two types of skimming; revenue skimming and accounts receivable skimming. The most common and the most difficult to detect is revenue skimming. Revenue skimming involves an employee …

Keep Reading

Segregation of Duties: Inventory and Cost of Sales

Proper segregation of duties is an essential element of your company’s internal control. Previously, we wrote about segregation of duties for the accounts receivable and sales process. Those were great for reducing the risk of error or fraud within your organization related to the handling of sales and accounts receivable stand point. How are you …

Keep Reading

No appraisal, no charitable deduction

IRS regs require taxpayer to hire a qualified appraiser when making a charitable contribution The IRS appears to be examining charitable contributions more closely in recent years, paying careful attention as to whether the donor has properly dotted all i’s and crossed all t’s. In the case of Mohamed v. Commissioner, T.C. Memo 2012-152, Joseph …

Keep Reading