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Forensic Accounting for Divorce Engagements: A Practical Guide offers both new and experienced forensic accountants a wealth of information and tools to assist with searches for assets that a spouse may try to conceal. Using real-world examples, the book will teach you how to outsmart fraudsters by thinking creatively. Substantial appendixes supply templates for thorough information gathering.
This third edition features valuable new material, including:
About the Authors
Ezra Huber, JD, is an admitted attorney in New York and California and has over 20 years' experience in the field of financial and asset protection planning. He is a prolific author of books and articles and is a frequent speaker on a wide variety of financial and legal matters throughout the country.
Donald A. Glenn, CPA/ABV, CVA, CFE, CFF, has over 30 years' experience and is frequently a court-appointed expert in the California Superior and Federal Bankruptcy Courts. He is a member of the national standards committee of the National Association of Certified Valuation Analysts and has served on the national board of directors of the Institute of Management Accountants. Mr. Glenn is a nationally known lecturer to judges, attorneys, CPAs, and other groups on forensic accounting.
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Introduction
Even though CPAs have been assisting in family law for years, until recently, the forensic aspects of a CPA's assignments have been limited to a few specialists. This is no longer true. Judges and attorneys are increasingly relying on CPAs to find the answer to very complex financial issues. Litigation services in family law are experiencing a rapid expansion, with an ever-increasing need for additional forensic practitioners.
Forensic Accounting for Divorce Engagements: A Practical Guide, Third Edition provides the working knowledge and insights you'll need for the types of deceptions you may encounter. This edition is designed primarily as a how-to reference for divorce engagements, and features example-type situations and discussions of their practical applicability.
The divorce rate is high, approaching 50 percent in some areas. Divorce—even the "friendly divorce"— is a stressful, emotional, and difficult process. During the course of a marriage, spouses' assumed roles in marriage and money management usually evolve so that one spouse handles the money. Thus, the managing spouse has tremendous leverage because of his or her knowledge of and access to property and information in a divorce. All too frequently the managing spouse cannot resist taking advantage of his or her position to obtain a better financial settlement. When this is done by intimidation, concealment, deceit, or breach of spousal duties, it may be characterized as fraud. That's where the forensic CPA applies his or her skills and experience to discover, disclose, and assist the attorney in the recovery of property or rights obtained improperly or by fraud. This guide focuses on the seamy side of divorce.
A complete list of schemes used by fraudsters is not possible because they are a prolific and creative lot. And yet many times, schemes are not all that clever, but proof for court is difficult to gather. Whatever the assignment, this guide is intended to stimulate the creativity of the CPA as he or she proceeds through the labyrinth of a forensic investigation.
Highlights of This Third Edition to Forensic Accounting for Divorce Engagements
Role of Forensic Investigator—Relationship with marital attorney, expectations for reports and testimony, thorough discussion of engagement considerations and engagement letter.
Badges of Fraud—Categorized list of over 100 signs that a spouse may be concealing assets.
Forensic Accountant as Expert Witness—Detailed information and advice about the forensic accountant's role on the witness stand and in depositions.
Common Problematic Transactions—Personal expenses paid by business, inventory shrinkage, delay in invoicing customers, and large, unusual purchases and events.
Fraud and Misstatements—Decline in profit due to cost or volume changes, personal expenses hidden from disclosure, false venders or employees, and other fraud schemes.
Executive Compensation—New chapter on marital fraud by corporate executives, covering SEC regulations, bonuses, stock options, retirement benefits, and myriad perks.
Marketing Forensic Services—Practical suggestions to market forensic services, including a new section on website marketing.
Appendixes—Real-world templates to assist with document requests, deposition questions, and data organizing templates; helpful to respond quickly to an attorney's request for a list of required documents for a CPA's assignment.
Note: For general information on family law, the AICPA has published A CPA's Guide to Family Law Services—Forensic and Valuation Services Practice Aid 05-1, a resource to assist CPAs who provide services to clients and attorneys in the family law area. Forensic Accounting for Divorce Engagements: A Practical Guide begins where Practice Aid 05-1 leaves off: It is a comprehensive guide to the full spectrum of marital fraud and how to discover it.
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