Stephen Pedneault, CFE, CPA/CFF
Stephen Pedneault, CFE, CPA/CFF, is the principal of CPA firm Forensic Accounting Services, LLC. Contact him at steve@fasman.com.
Fraud's fertile breeding ground
Any economic disruption leaves businesses vulnerable to fraud both from within and outside an organization. Here we look at how today’s bottlenecks along global supply chains are creating the potential for financial wrongdoing in the coming months and what fraud examiners and auditors should know to prevent it.
Written By: Stephen Pedneault, CFE, CPA/CFF
Trust us... we wouldn't lie to you
An accounting firm took on a new client from the advice of a good friend, but it didn’t conduct proper due diligence. Big mistake. During an inventory, the client’s CEO repeatedly lied to the author — a fraud examiner — and the external auditors he worked with. Here’s how to avoid fraudulent clients and keep your sanity.
Written By: Stephen Pedneault, CFE, CPA/CFF
Don't depend on a handshake
Once someone is entrusted in a fiduciary relationship, an opportunity is created for that person to become less trustworthy, or worse, a thief. Whether structuring a new fiduciary role to prevent fraud or investigating fraud after it has occurred, breaches of fiduciary duty are great sources of work for fraud examiners.
Written By: Stephen Pedneault, CFE, CPA/CFF
Don’t Sing the Credit Card Blues
If businesses don’t impose controls, policies and procedures over credit card processing and they don’t perform daily and monthly reconciliations, employees with access to the credit card systems could process fictitious or fraudulent refund or credit transactions to their personal credit cards.
Written By: Stephen Pedneault, CFE, CPA/CFF
Need access to historical banking information? Better read the fine print...
Read every bank's account details including disclosed cost schedules before opening an account, as well as when new disclosures are sent out for existing accounts, so you’re not surprised should you ever require research.
Written By: Stephen Pedneault, CFE, CPA/CFF
Filling the fraud examiner's toolbox
In any trade, a technician needs the right tools for a job. Knowledge built upon education, training and experience provides the needed skills. But without the right tools, a technician can only conceptualize the job at hand.
Written By: Stephen Pedneault, CFE, CPA/CFF
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