Businesses with a manufacturing component can be particularly vulnerable to non-cash schemes, such as inventory theft. In honor of World Chocolate Day, July 7, a real-life case of inventory theft at a chocolate manufacturer provides an in-depth look at inventory theft in manufacturing. The case, initially described by the Idaho Society of Certified Public Accountants […]
As a forensic accounting firm, SDC encourages individuals and businesses to be aware of all types of potential scams—whether they are perpetrated by employees or outside individuals. Awareness and knowledge are the first step to preventing and mitigating a wide range of scams. Scammers and fraudsters are always on the hunt for new angles and […]
Many organizations have, over the course of a tumultuous year, been tasked with reviewing and refining their work from home policies. For some, remote work is here to stay—a new fixture of the workplace. William Altman, Senior Analyst at the Global Cyber Center of NYC, describes the troubling state of cyber security as stopgap remote […]
The phone rings. You answer. There’s a brief moment of silence and a soft click. Then the message starts. It’s the same one you’ve been hearing almost daily for the past few months. “Hello. I’m calling today with important news. Your car’s warranty is about to expire…” Chances are if you own a vehicle and […]
Seng Tan impressed many struggling Cambodian immigrants in the United States. To them, she represented wealth and success. She drove a shiny black Mercedes, dressed in expensive clothes, and claimed to be a millionaire. Yet she was also like them. She too had fled Cambodia during the brutal regime of the Khmer Rouge. She also […]
Every year, on the first Friday in June, people celebrate National Doughnut Day. The day celebrates doughnuts and honors the Salvation Army Lassies. The Lassies served doughnuts to soldiers during World War I. The “Salvation Army Doughnut” was first served in 1917. The brave Salvation Army Lassies went to the front lines of Europe and […]
Employees clocking in a few minutes early or clocking out a few minutes late may seem fairly innocuous, but those minutes here and there add up quickly. They also constitute a common form of employee theft: time theft. Time theft occurs when employees receive compensation for time they did not actually work. A report commissioned […]
Shared office spaces, or coworking spaces, are an increasingly popular option for freelancers, small businesses, and remote workers who do not have access to a centralized office space. These rented workspaces can give individuals and small businesses access to a high-end, high-function office space without a major investment. For CPAs, accounting firms, and other businesses […]
The individuals who steal from us are sometimes the ones we least suspect. They may be long-term trusted employees, family members, and even those who pretend to share our deepest values. The term “affinity fraud” refers to scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional […]
The need for diversity and inclusion in accounting has long been recognized and, while the profession has made great strides toward inclusive practices, certain challenges remain. The underrepresentation of Hispanic people in finance is one area with room for improvement. As a longtime advocate of diverse hiring and multilingual offices, SDC CPAs follows the research […]
The theft of materials and equipment from jobsites is a crime on the rise, according to the National Equipment Register (NER). Whether thieves take power tools, heavy machinery, or even building materials, construction sites have become common targets for thieves. The NER estimates as much as $1 billion in equipment is stolen from jobsites annually. […]
Accountants have a set of skills essential to the modern world. The ability to process complex financial matters in terms of both details and large scale solutions enables individuals with a background in accountancy to excel in whatever line of work they choose. As a woman-owned accounting firm, SDC CPAs believes it is important to […]
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