Every two years the Association of Certified Fraud Examiners issues its bi-annual study known as the Report to the Nations on Occupational Fraud and Abuse. The study looks into the costs, schemes, perpetrators and victims of occupational fraud. According to the study, occupational fraud is “the use of one’s occupation for personal enrichment through the …
Divorce can be a very emotional event, which is further complicated by the effort to equitably divide the marital assets. The parties often disagree about the value of specific assets; which assets are sole and separate property; and on occasion, may accuse one another of fraud. One particular item that is often in dispute is …
Over the years I have been asked to be an expert regarding many marital dissolution cases. Most of my cases deal with valuing business interests held by the divorcing parties and income determination in connection with spousal maintenance and child support issues. Many of my cases have gone amicably between the divorcing parties. Some were …
On August 2 Mark Mazur, the U.S. Treasury’s assistant secretary, announced that the IRS will implement new regulations that will effectively eliminate valuation discounts. Background In an effort to diminish perceived abuses related to valuation discounts associated with transfers of interests in family entities, the IRS enacted Section 2704 of the Internal Revenue Code (the …
How can a macro-economic event, such as when the United Kingdom voted to exit the European Union, impact everyday people and corporations and help them emerge from bankruptcy protection in the United States? When the UK voted to exit the EU, this caused a significant panic in the investment community, particularly investments in foreign stocks. …
A handful of questions to begin – Are you thinking of selling your small and medium-sized entity (“SME”)? Is your largest asset in your estate your business? Are you the CEO, CFO, general manager and sales force of your SME? Do you fear going on a two week vacation because of the number of phone …
$16,764,128.95 – let’s think about that for a minute. Almost $17 million gone over a 9 year period – a mere $1.86 million per year. Would you notice? That’s how much the former controller for the Collin Street Bakery in Corsicana, Texas embezzled from the business. He used his ill-gotten gains to finance a lavish …
When valuing a controlling or non-controlling interest in a C corporation that owns only marketable securities, a common method to apply is the net asset value method under the asset approach. Under this method, the fair market value of liabilities is subtracted from the fair market value of assets. Included in the liabilities is a …
The number of Arizona real estate appraisers could decrease at a rate of 3% per year over the next decade. According to the Appraisal Institute, the pool of real estate appraisers in the United States is shrinking and aging. Sixty-two percent of appraisers are 51 and older while 24% are between 36 and 50. Only …
Most information in organizations is now created, managed, and stored electronically, which has caused an increase in the rate of computer-related criminal activity. There are four situations in which a computer device may be involved in a crime: when the computer is (1) the target of the crime, (2) the medium through which the crime …
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