Fraud

New technologies, including artificial intelligence and machine learning, increasingly are being applied to the old problem of occupational fraud. But in most circumstances, common accounting tools — ‘variance analysis’ and ‘contribution margin’ — remain effective in uncovering possible evidence of theft. Gaps & Absences After your organization...

Family businesses make up the vast majority of companies in the United States and produce 62 percent of the country’s gross domestic product, according to the Conway Center for Family Business. Generally defined as companies that are majority owned by a single family with two...

Machine learning increasingly is being used to discover fraud schemes. With this type of artificial intelligence (AI), the technology learns or improves in accuracy through experience, rather than through additional programming. If you already use AI in your business, you are probably somewhat familiar with...

The recently released 2020 Association of Certified Fraud Examiner’s (ACFE’s) occupational fraud study, Report to the Nations, reveals that the most common behavioral red flag exhibited by fraud perpetrators is living beyond their means. Also high on the list are financial difficulties and unusually close...