Five Strategies for Audit Committees to Rebuild Public Trust and Confidence in Financial Reporting

Management fraud and auditor failure to find that fraud have received the greatest share of attention to date; and relatively less attention has been directed at the role of audit committees in these financial reporting failures. The current cycle of financial reporting scandals has already caused further attention to be given to the issue of…

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Litigation Risk

Auditor liability and malpractice, stemming from allegations of failure to appropriately respond to clients’ risk of material misstatements due to fraud, is an area ripe for litigation, specifically when fraud and material misstatements are subsequently revealed to have affected the financial statements.  Although a “clean” audit report is not an absolute guarantee of accuracy, auditors…

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Lessons from Civil Litigation

Civil litigation involving asset misappropriation, fraudulent disbursements and other complex accounting matters benefit from the engagement of a forensic accountant and/or a fraud examiner. Just as attorneys would not attempt to decipher complex engineering or scientific intricacies at issue in a matter being contested, so too should they – many of whom have studied business,…

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