This article provides a hypothetical case study that walks readers through the process of a financial investigation in which the data extraction, analysis, and forensic reconciliation are integrated seamlessly by accounting and data experts who understand both sides of an investigation.| QuickRead | News for the Financial Consulting Professional
The level of sophistication used by fraudsters continues to increase. Fraudsters are using voice recognition and voice swapping, as well as other generative AI tools that continue to evolve. It is critical to constantly reassess internal controls and understand how AI is used and misused. In this article, the author shares some of the schemes used and issues a challenge to entities as well as to accounting and fraud examiners.| QuickRead | News for the Financial Consulting Professional
Forensic accounting plays a crucial role in modernizing climate risk insurance models. As climate change intensifies extreme weather events, insurers are struggling to accurately price risk, detect fraudulent claims, and maintain financial stability. This article explores how fraud, forensic accounting, and innovative risk management practices intersect with these challenges, while examining alternatives to traditional property insurance and the global implications of climate change.| QuickRead | News for the Financial Consulting Professional
In this article, the author uses a case study to explore how forensic accountants used analytics to identify discrepancies in financial records and support financial investigations.| QuickRead | News for the Financial Consulting Professional
In this article, the author discusses the conversation she had with ChatGPT regarding Bitcoin and Ponzi schemes.| QuickRead | News for the Financial Consulting Professional
In this article, the author provides three versions of a data retention policy that appears compliant with GDPR or NIST.| QuickRead | News for the Financial Consulting Professional
This article examines how data analytics combined with other forensic accounting tools can help investigators uncover how investors in both traditional and newer types of Ponzi schemes were victimized, and how data can be compiled to locate stolen assets and create an analytical report that aids regulators and in legal proceedings focused on recovering funds or determining investor losses.| QuickRead | News for the Financial Consulting Professional
AI is pervasive and promises to fundamentally transform business operations, education, and daily life. However, functional insights bridging the gap between AI and our industry have been lacking. The authors share their views on the ethical and professional standards implicated from the use of AI in forensics and valuation engagements.| QuickRead | News for the Financial Consulting Professional
Investigators need better ways to sift through vast quantities of data to find the information at the heart of the matter. This article examines a more efficient approach to complex investigations with Generative AI. The information in this article is intended to assist in determining the effectiveness of using GenAI in fraud and other complex investigations.| QuickRead | News for the Financial Consulting Professional