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1. Surviving on cross-exam: Tips for expert witnesses  

BY Gary L. Birnbaum and Vail Cloar
Understanding the cross-examiner’s objectives can help an expert witness prepare to take the stand. It is not difficult to identify foundational principles that, if properly understood and applied, allow you to “survive” cross-examination. Here are seven tips for forensic and valuation services accountants who serve as expert witnesses.

2. Lessons from an $8 million fraud  

BY Mark J. Nigrini, Ph.D. and Nathan J. Mueller
In hindsight, it seems obvious: Nathan J. Mueller’s pilfering of financial services giant ING should have never been allowed to start, much less last as long as it did. First, it was an accident that gave Mueller, an employee in ING’s reinsurance division, the authority to approve company checks of up to $250,000.

3. What’s your fraud IQ?  

BY Andi McNeal, CPA
At some point in nearly every CPA’s professional experience, he or she encounters a transaction or situation that stands out from the others—one that just doesn’t make sense. Many of these occurrences turn out to be erroneous or to have an unobvious, yet legitimate, reason behind them. But some have a more sinister explanation.

4. Big Data tops issues facing forensic and valuation accountants   WebExclusive

BY Chris Baysden
Electronic data analysis, also known as “Big Data,” is the most pressing issue that forensic and valuation services (FVS) accountants expect to face in the near future, according to survey results released Tuesday by the AICPA.A quarter of respondents to the 2014 AICPA Survey on International Trends in Forensic and Valuation Services identified electronic data analysis as one of the top five issues they will face over the next two to five years.

5. New mentoring program helps CPAs interested in CFF credential  

The AICPA established the Certified in Financial Forensics Mentor Program, which is designed for AICPA members interested in developing their skills and business practices in forensic accounting through the help of more experienced forensic professionals.CPAs who apply to the program will be paired with mentors who hold the AICPA’s Certified in Financial Forensics (CFF) credential.

6. Four factors that will influence the L.A. Clippers’ sale price   WebExclusive

BY Chris Baysden
Three quantifiable factors will influence the sale price of the Los Angeles Clippers—and one more will trump them all, business valuation (BV) experts say.The Clippers have been the talk of the sports world for the past couple of weeks after media outlets began airing a tape of racist comments made by longtime owner Donald Sterling.

7. AICPA, CPA Canada to collaborate in forensics, technology advisory services   WebExclusive

BY Ken Tysiac
Members of the Chartered Professional Accountants of Canada (CPA Canada) will have access to a broad portfolio of specialized information through the AICPA Information Management and Technology Assurance Section and its Forensic and Valuation Services Section.Under an agreement announced Friday, CPA Canada members can join those sections and will have the opportunity to obtain the Certified in Financial Forensics (CFF) and Certified Information Technology Professional (CITP) credentials.

8. Kelly Richmond Pope, CPA, CGMA, Ph.D.  

My father (Tyronza R. Richmond) always encouraged me to major in accounting. He was business school dean at North Carolina Central University in Durham, N.C., for 10 years and chancellor from 1986 until 1992. I took my first accounting course as a ninth-grader at Charles E. Jordan High School in Durham.

9. IRS oversight of CPAs who provide valuation services  

BY Michael Gregory, ASA, CVA, and Renée Marino, CPA/ABV, CFA, ASA
Under Sec. 6695A, enacted by the Pension Protection Act of 2006, P.L. 109-280, appraisers may face monetary penalties for appraisals that lead to substantial and gross valuation misstatements on returns. This section is intended to provide greater assurance that all appraisers and appraisals meet a minimum threshold of qualification.

10. How to value a CPA firm for sale  

BY Joel Sinkin and Terrence Putney, CPA
One of the key components of a CPA succession plan is the sale or transfer of the retiring CPA’s ownership interest. How is the value of that interest determined? In most circumstances, the value of an owner’s interest is different when selling to an external buyer than it is in an internal transaction.EXTERNAL SALESThe most common question about accounting firm sales the authors are asked when teaching CPE courses is “What is the multiple (of billings)?” The multiple is determined by four main factors:1.
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