Eric Keresztes, CPA, CFE’s Post

Our partners Brian Loughman and LeeAnn (Asiaf) Manning and senior manager Meghan (Morine) Mellott, CPA, CFF offer best practices for streamlining accounting investigations involving financial restatements in an article published in Global Investigations Review: Americas Investigations Review 2025. The article can be found here: https://lnkd.in/dUfUSPXR This article was first published on Global Investigations Review in August 2024; for further in-depth analysis, please visit https://lnkd.in/dJcJYHti #accounting #investigations #restatements #SEC #thoughtleadership

Please see a recent article I wrote with my colleagues LeeAnn (Asiaf) Manning and Meghan (Morine) Mellott, CPA, CFF for Global Investigations Review

Key Trends in Forensic Accounting for 2024 Forensic accounting, a specialized branch of accounting, has evolved significantly over the years, adapting to the complexities of modern financial systems and the ever-changing landscape of fraud. Read more: https://lnkd.in/gANr-MDT Book your free consultation now! https://lnkd.in/d_rbANc9 #accounting #finance #forensicaccounting

Nobody likes to hear the word “fraud,” especially when the fraud is associated with your own business. Fraud can occur to any person, at any company, at any time. However, fraud is more likely to occur when there are breakdowns in internal accounting controls. This article provides key concepts designed to safeguard financial resources and enhance the reliability of financial reporting against fraud. Read more: https://bit.ly/3UKA1zR

What are Internal Controls in Accounting? Check out our latest blog to learn the key elements and benefits that help safeguard your business, ensure accuracy, and prevent fraud. #expertiseaccelerated #accountingservices #internalcontrols #preventfraud

Discover the importance of Internal Controls in Accounting! Explore our latest blog to learn the essential components and benefits for safeguarding your business, ensuring accuracy, and preventing fraud. #expertiseaccelerated #accountingservices #internalcontrols #preventfraud

The Sarbanes-Oxley Act was designed to prevent accounting fraud and increase investor confidence. How familiar are you with this law's requirements? We're looking at how the right tools can help businesses comply with Sarbanes-Oxley's section 404, which establishes accountability standards for corporate boards and auditors. #compliance #sox404 #sarbanesoxley #documentmanagement https://lnkd.in/e-282h_K

With new talk about dismantling the PCAOB, it’s worth looking again at what I wrote nearly 5 years ago in the first Trump admin. Evergreen. Every argument still true. And legislation is not needed if someone wants it to happen. It will just be starved to death. But be careful what you wish for Big 4. Gift link 🎁 “The watchdog provides the auditing industry cover from all kinds of criticism, and allows it to blame “regulatory bureaucracy” for higher fees. Since 2002, the largest firms have invested in costly legal and compliance functions. That required infrastructure creates additional barriers to entry, making it that much harder for smaller firms to challenge the power of the Big Four. Without a dedicated independent regulator, audit firms and the SEC will find themselves squarely in the line of fire after the next catastrophic accounting fraud. And that is not a comfortable place to be.” https://on.ft.com/3VlfJMw

The Growing Importance of Forensic Accounting in Today's Financial Landscape As financial complexities rise, so does the critical role of forensic accounting. According to a recent report from Market Research Future, the forensic accounting market is projected to experience significant growth, driven by increasing fraud cases and the demand for financial transparency. Forensic accountants are not just number crunchers; they are essential detectives in the financial world, unraveling discrepancies and ensuring accountability. As businesses and organizations prioritize integrity and compliance, investing in forensic accounting services has never been more vital. Let's recognize the importance of these professionals in safeguarding our financial ecosystems! Source: https://lnkd.in/d5Mfbw46 #ForensicAccounting #FinancialIntegrity #FraudDetection #MarketTrends #AccountingProfessionals #FinancialTransparency #BusinessCompliance #RiskManagement #AccountingInnovation

The Public Company Accounting Oversight Board (PCAOB) has made significant efforts to improve fraud detection in financial audits. They have established standards and guidelines, such as AS 2401, which outlines the auditor’s responsibility to detect fraud in financial statements. However, the effectiveness of these efforts has been mixed. On the positive side, there have been improvements in auditors’ fraud risk assessment performance over time. The PCAOB’s inspections and reports have highlighted areas where auditors need to improve, such as performing adequate follow-up procedures and addressing identified fraud risks. Despite these improvements, there are still challenges. PCAOB inspection reports have found instances where auditors failed to adequately address fraud risks, such as not performing sufficient substantive procedures or failing to assess revenue recognition as a potential fraud risk. These findings suggest that while progress has been made, there is still room for improvement in detecting and addressing fraud effectively. Overall, the PCAOB has made strides in enhancing fraud detection, but continuous efforts are needed to ensure auditors consistently apply the necessary procedures and professional skepticism. https://lnkd.in/gSTqHnJa