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Articles with the keyword "fraud"

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Background check

How short-selling sleuths spot accounting gimmicks on financial reports.From Marketwatch.com.With the economy mired in a deep slump and sales slowing, many companies found it necessary last year to reduce inventory.Not Monsanto Co. Instead, the agricultural seed giant was building inventory.…

Internal Audit's Say on Pay

From CFO.com.Plenty of groups are looking harder at executive compensation. Is your internal audit department one of them?There's no question that executive compensation has come under the microscope recently. Since December companies have been dealing with new Securities and Exchange…

Amy K. Egelston

Senior Manager: Amy is a Senior Manager in Blackman Kallick’s Forensic and Litigation Services Practice. She is a Certified Public Accountant and Certified Fraud Examiner. She has over twenty five years experience as an auditor, accountant and consultant in Big…

Detecting Employee Theft and Occupational Fraud at Your Company

From OpenForum.com.The Association of Certified Fraud Examiners (ACFE), the largest anti-fraud organization in the world with over 50,000 members, recently published the results of its biannual study on occupational fraud (also known as employee fraud). With millions of people facing…

State panel to look into Metra

From Chicago Tribune.A legislative committee plans to look into "accountability and openness" at Metra in response to disclosures of abuse of authority and inadequate oversight at the commuter rail agency, a state legislator said Monday.State Sen. Susan Garrett said she…

Blackman Investigates Metra Police Overtime Pay

Included in the forensic accounting services being provided to Metra, Blackman Kallick will be investigating metra police overtime pay. Below is an excerpt from an article published in the Chicago Sun Times on July 12 entitled, Metra's overtime express.Last August,…

IRS Launches Gulf Oil Spill Hotline, Plans Special Assistance Day

From Journal of Accountancy.The IRS announced that it has set up a special toll-free telephone line for taxpayers affected by the oil spill in the Gulf of Mexico. The phone number is 866-562-5227, and it will operate on weekdays from…

IRS Offers Tax Help to Oil Spill Victims

From WebCPA.The Internal Revenue Service has issued guidance to individuals and businesses affected by the oil spill in the Gulf of Mexico and announced new efforts to help affected taxpayers, including a special Gulf Coast Assistance Day on July 17.“This…

Metra Selects Blackman Kallick to Perform Risk Assessment and Financial Control Study

From Metrarail.com.The Metra Board of Directors at its June 11 meeting hired the accounting firm of Blackman Kallick to undertake an independent risk assessment and to provide advice to the board on governance, financial controls and oversight.Blackman Kallick will assess…

Metra Hires Blackman Kallick to Assess Internal Controls and Management Practices

Blackman Kallick's Forensic & Litigation Practice has been hired by Metra to investigate and assess their internal controls and operating procedures following a financial scandal that resulted in the suicide of former Executive Director Phil Pagano. Below is an excerpt…

Keeping Fraud in the Cross Hairs

From Journal of Accountancy.Report highlights common, costly schemes and makes prevention the target.Five percent of annual revenue—that’s the estimate of how much money the typical organization loses to fraud, according to participants in the 2010 Report to the Nations on…

Fraud Skims 5 Percent off Revenue Worldwide

From WebCPA.Organizations worldwide lose an estimated 5 percent of their annual revenues to fraud, potentially amounting to over $2.9 trillion, according to a new study.The study by the Association of Certified Fraud Examiners surveyed CFEs globally as part of a…

What's Your Fraud IQ?

From Journal of Accountancy.Although the required knowledge, expertise, and roles of auditors and fraud examiners differ, CPAs occasionally find themselves in situations where evidence of fraud is right in front of them. Without a basic understanding of some methods for…

SBA Warns Small Businesses of Scams to Help Obtain Government Loans

From Journal of Accountancy. The U.S. Small Business Administration (SBA) warned that the agency has received several complaints from small businesses about abusive marketing practices, scams and exorbitant fees charged by companies offering to help businesses get a loan, grant…

Dertz Quoted in “Cyber Attackers Empty Business Accounts in Minutes” Article Syndicated Online

In his “Cyber Attackers Empty Business Accounts in Minutes” article, syndicated by the IDG News Service, Robert McMillian interviewed Blackman Kallick Tax Partner, Jeff Dertz, on the growing threat of ACH fraud. Fraudsters are taking advantage of the widely used…

ACH: The New Wave of Bank Fraud

Jeffery A. Dertz, CPAPartner, Insurance Practice jdertz@BlackmanKallick.com, 312-980-3224This Blackman Kallick article was published some time ago, but it has taken on new relevance in light of the changes in the U.S. economy and the corresponding increase in online fraud. The Automated…

Illinois Secretary of State Warns of Franchise Tax Business Scam

There is a new scam that attempts to get Illinois and Indiana businesses to file what looks like a franchise tax return and corporate minutes with a fee of $150. The Illinois Secretary of State Jesse White has posted a…

The Foreign Language of Fraud: U.S. Companies Are Especially Vulnerable in China

If your company has Chinese operations or plans to start doing business in China, you face many challenges—not the least of which is fraud. Language and cultural barriers, geographic distance and rudimentary government regulations mean that Western companies often fall…

Deceptive Notices Try to Obtain Your Hard-Earned Dollars

Criminals and fraudsters sometimes take advantage of tough economic times by increasing their efforts to defraud a vulnerable public as well as struggling hard-working business people. During our current struggling economy, be alert for solicitations for personal and financial information—even…

How to Protect Your Financial Identity and Credit

According to the Federal Trade Commission, several million people are victims of identity theft each year, generating losses estimated in the tens of billions of dollars. Several states, including Illinois, California, New York and Florida, have passed laws that will…


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This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.