Category Archives for "Financial Reporting"

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 […]

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 […]