Mike Rosten, CPA, CFE Co-Hosts Financial Fridays Radio Show

Mike Rosten, CPA, CFE of Piercy Bowler Taylor & Kern was the co-host for Scott Taylor on this episode of Financial Fridays. The show airs live every Friday at 3 pm on KLAV 1230 AM. To listen to the show, visit PBTK.com. Our guests this week included:

Dan Steffens Dan has more than 35 years of financial experience in the upstream oil & gas sector.  His company, the Energy Prospectus Group (www.energyprospectus.com) is the premier networking site for investors focused on the energy sector.  EPG members receive my monthly newsletter, “The View From Houston” and more than 100 individual company profiles each year. EPG luncheons in Dallas and Houston give our members that opportunity to meet the CEOs of some of the world’s most promising energy companies.

John Restrepo is the Principal of RCG Economics in Las Vegas, Nevada, where he directs the firm’s economic and financial consulting activities.  For eight years, John was the Director of Financial Advisory Services in Las Vegas for Coopers & Lybrand LLP.  Before joining Coopers & Lybrand in 1990, he managed the Las Vegas office of Mountain West Research, a regional economics firm based in Phoenix, Arizona.  Prior to Mountain West, he was the Chief Operating Officer of a 40-person regional planning and civil engineering firm based in New Orleans.  For 28 years, John has analyzed regional economic and real estate trends in a number of markets, including Nevada, Arizona, California, Texas, and the Southeast U.S.  His clients include some of the most prominent private and public organizations in Nevada concerned with development and growth.

Dan Morris, CPA & Philosopher, partner in the San Jose CPA firm of Morris & D’Angelo. He is also the founder of the VeraSage Institute, a think tank dedicated to promulgating and teaching Value Pricing, Customer Economics, and Human Capital Development to professionals and businesses around the world;

Stan the Annuity Man, a.k.a. Stan Haithcock, is a nationally recognized expert on annuities known for his transparency, honesty, and endless research.  He has spoken at every major financial trade show in the United States.  He is rigorously independent, representing all major carriers that meet his uncompromisingly high standards.  With a financial background that spans some of the major wirehouse organizations such as Dean Witter, Morgan Stanley, Paine Webber and UBS, Stan brings to his clients an informed clarity and “insider” wisdom that makes him extra careful and cognizant of risks and how to avoid them.  In 2005, when Stand became Stan The Annuity Man he determined that each client deserved his undivided personal attention and that his mission was to become a trusted member of each client’s “Financial Team.”  That meant he would be known for fly-to-your-home-coast-to-coast service.  Today Stan does indeed have clients nationwide.

If you have any questions about anything discussed on the show, or if you would like to be a guest, please contact Financial Fridays host Scott Taylor at staylor@pbtk.com or 702-384-1120. Scott W. Taylor’s tax practice focuses on services for a wide range of clients including real estate partnerships, limited liability companies, large and small closely-held corporations and not-for-profit organizations. He started with PBTK in 1992 and was made a Shareholder in January 2005. In addition to his tax work, he also provides services for business consulting, deal structuring, receivership and litigation support services.


Part Two: When Should Human Resources Call In a Certified Fraud Examiner?

With their direct contact with staff at all levels, HR professionals may be some of the first to encounter signs of deception within an organization. In our first post on the signs of deception, there are several red flags that all HR professionals should know when interviewing candidates and employees. If further questioning and research reveals that there may be need for an internal investigation, then it may be time for you to hire a Certified Fraud Examiner (CFE).

There are a number of circumstances that may cause a need for an investigation done by outside experts.  Depending on the type of company, the duties of the officers and directors will play a role in when to launch an investigation and how that investigation will be handled.  Some companies are bound by certain federal statutes or regulatory agencies to report instances of misconduct.  If you are a private company, then you will need to decide if it is beneficial to move forward with an investigation.  If you are not sure, then you may want to consult with a CFE for help in deciding what can be done.  Whatever the reason for the investigation, having a CFE on the team is important.

It is best to hire a CFE when you first see the red flags or have conducted an interview that raises questions.  The CFE can then come in and conduct interviews with employees and the suspect and also perform the investigation.   The CFE will most likely want to assemble a team to perform and direct the investigation.

The CFE is trained to conduct complex investigations from start to finish.  They can bridge the financial examination with the traditional investigation.   Here are few tips to help you hire a CFE:

  • Use referrals.  Get referrals from an attorney you trust or check directories in your area on www.acfe.com. You can also ask the CFE to provide you a list of past clients for you to contact.
  • Verify credentials.Confirm licenses and credentials by contacting the issuing organization.
  • Verify representations.  Confirm representations such as education, speeches, and articles. Internet search may provide links to speeches and articles.  Contacting the publication or educational institution for verification.
  • Prior experience.Understand what experience they have and the results they have achieved. Many forensic accountants will include case studies of past work to demonstrate their industry experience and the level of courts they have worked with.
  • Knowledge. What knowledge do they have in the relevant industry? Do they list the industries they have worked with?
  • Adaptable and flexible.  Are they willing to consider other ideas?  When talking with the CFE do they present different possible approaches to the investigation?

Please contact us if you have any questions about hiring a CFE.