Finding fraudsters: How employees do it

When employees commit fraud, they generally try to keep the schemes going as long as possible by concealing their activities from others. How successful thieves are at concealment depends largely on their identities, their roles within their organizations and the type of fraud they commit. To uncover potential fraud in your organization and prevent financial …
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Recovering from fraud’s impact on finances, reputation

Occupational fraud poses significant risks beyond mere financial damage, threatening the reputation, culture, and relationships of businesses. Companies confronted with fraud must first address the immediate aftermath, which often involves terminating the perpetrator, pursuing civil action, or involving law enforcement. Prompt action and a review of internal controls are crucial in these situations. Victim Response …
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Planning your estate: A QTIP might be just what you need

If you’re remarried and have children from a prior marriage, you may worry about how you’ll equitably divide your estate among loved ones. A qualified terminable interest property (QTIP) trust may help. It’s structured to provide future security to spouses and children as well as tax benefits — even if estate tax laws change over time. …
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IRS investigating more than $9B in potential COVID fraud

IRS Press Release WASHINGTON — Four years after the enactment of a key pandemic-era law, the Internal Revenue Service released updated numbers showing Criminal Investigation (CI) has investigated 1,644 tax and money laundering cases related to COVID fraud potentially totaling $8.9 billion, with well over half that amount coming from cases opened in the last …
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Navigating the New Auditing Standards

A Guide for Business Owners and CFOs As fiscal year-end 2023 audits approach, it’s imperative for business leaders to grasp the implications of three new auditing standards. Effective for periods ending on or after December 15, 2023, these standards herald significant shifts in audit procedures, demanding greater precision and detail from both management and auditors. …
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U.S., Mexico officials stress partnership achievements

In a significant step towards bolstering bilateral economic ties, top officials from the United States and Mexico met virtually on April 19, 2024, focusing on progress made since last September’s ministerial session, underscoring the robust economic partnership between the two nations, and emphasizing shared achievements in supply chain integration, environmental cooperation, and workforce development. Progress …
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Court Win Boosts Private Equity Healthcare Roll-Up Strategy

A recent judicial ruling in Texas has provided a significant boost to private equity (PE) firms’ roll-up strategies in the healthcare sector, underscoring the resilience and adaptability of these investment approaches amid regulatory and economic challenges. The legal victory stems from a case involving the Federal Trade Commission (FTC) and a physician practice management company. …
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Tax-smart guidance for family loans

In recent years, the landscape of residential mortgage loans has undergone significant shifts, with interest rates climbing steadily. This trend poses challenges for individuals, particularly our oved ones, seeking to enter the housing market. As the value of homes soars and inventory remains low in many areas, prospective buyers may find themselves facing daunting financial …
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4 Strategies for Better Financial Management in Construction

Construction businesses face a unique set of financial management challenges, from navigating project-based pricing and fluctuating costs to dealing with unpredictable weather. To succeed in this complex environment, contractors need robust strategies to manage their finances effectively. Here are some key practices that can help construction businesses strengthen their financial management. 1. Streamline Billing Procedures …
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Consolidation: The Impact on Smaller Medical Practices

The healthcare industry is undergoing significant changes, driven by technological advancements, shifting patient demographics, and evolving regulatory landscapes. One of the most notable trends is the consolidation of medical practices, where smaller independent practices are being acquired by larger health systems, private equity groups, or other corporate entities. This consolidation trend has a variety of …
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