Automate Check and Deposit Slip Data Extraction

Getting clean data is always the most difficult part of any forensic or financial investigation. Handwritten checks and deposit slips just add to the time and complexity. VALID8 has integrated technology used by the largest financial institutions that process millions of checks and deposits into the leading forensic accounting software platform. The result is an […]

What Should You Expect From An Audit?

Recently, the Economist published “What is an audit for?” and identified the current expectation gaps between what the consumers of a financial statement audit (investors, board members, lawmakers, courts, etc…) expect and what is being delivered.  Examining these gaps provides tremendous insights into the imminent change in store for the Accounting Services profession. I’ve taken […]

VERIFIED FINANCIAL INTELLIGENCE

What is VFI? VFI stands for Verified Financial Intelligence. Professional services (accountants, lawyers, engineers, doctors and other professionals) account for over $1 Trillion per year of the US economy.  Accounting professional service fees add up to over $100 Billion of the $1 Trillion. The product or service that CPAs deliver is very simple, it’s an […]

3 Best Practices To Establish Command And Control Of Cash Flow For Chapter 11 Commercial Bankruptcies

By Tod McDonald A trustee’s chapter 11 commercial bankruptcy case objectives are simple. Ensure everyone associated with the case follows adheres to the laws established for federal bankruptcy court. Maximize the return and payment to creditors and stakeholders. To achieve these goals, one thing matters more than anything else, establish command and control of the […]

Cash Flow is Everything

By Tod McDonald, CPA, CFF/CFE, CIRA, Cofounder If there’s one lesson I’ve learned working on hundreds of clients in dozens of different industries, cash flow is everything. Standard accounting procedures if controlled properly, do a fine job of tracking how/where money is made and spent. However, after spending a lot of time with distressed business […]

A New Era in Financial Transparency

By Chris McCall, Cofounder Detailed financial and accounting data has historically been, for the most part, hidden behind a veil of complexity.  Before the explosion of compute power and plummeting data storage costs, corporate accounting generated too many transactions and too much data for management to consider every transaction in real time. Necessity being the […]

Inside Seattle’s Largest Ponzi Scheme

Investigating A $140 Million Fraud By Tod McDonald I had the honor of working directly for the case trustee (Mark Calvert, who is an investor in VALID8) for the Meridian Funds Ponzi Scheme case back in the mid-2000’s.  Here’s a quick overview of the detailed work accomplished to answer the simple question, “Where did the […]

5 Best Practices for Fraudulent Transfer Litigation

Assembling a database of independently sourced transaction evidence is critical for any Fraudulent Transfer or Financial LItigation.  Gregory Hays, CTP, CIRA, President NAFER, recently published some guidance as a chapter of a recent publication called Fraud and Forensics, Piercing Through The Deception of a Commercial Fraud Case.  This blog contains a few excerpts from the […]

Keeping Up With The Cryptos

Here’s part 1 of 3 articles taken from a fantastic write-up on emerging challenges with Cryptocurrencies, blockchain and distributed ledger technologies from a Federal Receiver’s perspective. Download the full article here. Get the full NAFER Newsletter where this article appeared here. Keeping Up With The Cryptos, Cryptocurrencies Likely The Best Fraud Show in 2018 (part […]