Posts Tagged: Fraud

Bank customer’s lawsuit raises questions about fraud liability

Posted by & filed under Financial Accounting, Fraud.

$80K fraud case highlights caveats and conditions giving banks a backdoor for liability Security of online credit cards in question The case of an Ontario man who was charged more than $80,000 on his credit card for purchases he claims he didn’t make is raising new questions about the security of online and credit card transactions and whether banks are shifting liability for… Read more »

Corporate tax evasion ‘crackdown’ more bark than bite

Posted by & filed under Accounting Careers, Canadian Economy, Corporate Restructuring, Corporate Social Responsibility, Fraud, Fraud Accounting, Taxation, Taxation & Planning.

Global efforts to stop companies from eroding tax base by moving profits offshore have no teeth, experts say Tax Evasion Tactics In December 2012, demonstrators led a country-wide protest against Starbucks over the coffee chain’s tax evasion tactics. A Reuters investigation found that through the magic of profit shifting, the company had avoided paying any… Read more »

Refunds: why retailers are making it harder for you to get them

Posted by & filed under Auditing, Fraud, Fraud Accounting, Marketing & Strategy.

Returns fraud costs customers in terms of higher prices, more restrictive store policies  Want your money back? Not so fast. Return policies are getting tighter as retailers try to protect themselves from returns fraud — and honest customers often pay the price. Not only that, but at many stores, policies are unevenly applied, a CBC… Read more »

Target Stores & Neiman Marcus are latest victims of security breach

Posted by & filed under Canadian Economy, Fraud.

  Neiman Marcus is latest victim of security breach Neiman Marcus confirmed Saturday, Jan. 11, 2014 that thieves may have stolen customers’ credit and debit card information and made unauthorized charges over the holiday season, becoming the second retailer in recent weeks to announce it had fallen victim to a cyber-security attack. (M. Spencer Green/Associated… Read more »

With Great Data Comes Great Responsibility

Posted by & filed under Accounting Careers, Fraud Accounting, Intermediate Accounting.

The risk of data to the forensic accountant & client The forensic accounting profession is ever changing and evolving. White collar criminals are finding new ways to commit fraud, and litigation matters are becoming more and more complex. In order to meet the needs of clients, forensic accountants are learning new skills and using new… Read more »

What’s trending today in Accounting & Finance?

Posted by & filed under Accounting Careers, Canadian Economy, Corporate Social Responsibility, CPA, Financial Accounting, Fraud, IFRS, International Accounting, Taxation.

These are dynamic days for the profession and opportunities abound. Here’s everything you’ve ever wanted to know about best bets for jobs About six years ago Cathy Logue, an accountant by trade, and her two business partners launched Ambit Search in Toronto. The boutique executive recruiting firm is focused exclusively on filling finance and accounting… Read more »

Stock fraud scams tough to combat in internet age

Posted by & filed under Fraud.

Canadians arrested in penny stock scheme that allegedly saw global investors lose $140M A penny stock fraud scheme that bilked investors in 35 countries out of more than $140 million is raising questions about how authorities can combat such financial scams in the internet age. Four Canadians carried out the purported fraud with the help… Read more »

Canadian’s firm used in huge Russian tax scandal, plus How the Rich hide their money!

Posted by & filed under Auditing, Corporate Restructuring, Corporate Social Responsibility, Fraud Accounting, International Accounting, Taxation, Taxation & Planning, Uncategorized.

Caribbean agency helped set up offshore companies connected to $230M scam It’s a tale with the cloak-and-dagger intrigue of a Hollywood thriller: a $230-million heist, corrupt Russian police and government officials, prison beatings, a dead lawyer, Kafkaesque trials and a diplomatic spat between international superpowers. And now, for the first time, secret files obtained exclusively… Read more »

Former SNC-Lavalin CEO arrested on fraud charges

Posted by & filed under Accounting Careers, Corporate Social Responsibility, Fraud, Fraud Accounting.

Anti-Corruption Squad Quebec’s anti-corruption squad has arrested former SNC-Lavalin CEO Pierre Duhaime, charging him and Riadh Ben Aissa, ex-head of the company’s construction arm, with fraud in connection with construction contracts for a Montreal super-hospital. Duhaime stepped down from SNC-Lavalin in March after an investigation revealed he signed off on $56 million in “improper payments,”… Read more »

How Forensic Accountants Differ From Auditors

Posted by & filed under Accounting Careers, Auditing, Financial Accounting, Fraud Accounting.

What is the role of Forensic Accountants: Forensic accountants are uniquely suited to help in-house counsel address issues involving financial reporting, accounting and internal controls. They also collect and analyze accounting and internal-controls evidence. They produce a fact-based report that can inform the decision-making process in inquiries, investigations and dispute resolution. By product of Forensic… Read more »