Fraud

Not all companies follow U.S. generally accepted accounting principles (GAAP). Many smaller businesses, for example, have adopted the American Institute of CPAs’ Financial Reporting Framework for Small and Medium-Sized Entities because it is easier to follow. Other businesses may use non-GAAP measures because they do...

The novel coronavirus (COVID-19) pandemic has opened the floodgates to scam artists attempting to profit from sick, anxious, and financially vulnerable Americans. On the frontlines fighting fraud are the Federal Trade Commission (FTC), U.S. Justice Department (DOJ), and other government agencies. Here are some of...

Before the novel coronavirus (COVID-19) pandemic struck, employees who suspected occupational fraud in their organizations had multiple options for notifying their employers. For example, they could use interoffice mail to send information anonymously or meet in person with human resources (HR) personnel. Reporting options for employees...

Paying workers ‘under the table’ or with cash can save businesses a bundle in taxes, but the potential consequences are grave. Not only is this practice illegal and could result in severe financial penalties but it also shortchanges employees. The novel coronavirus (COVID-19) pandemic has made...