| Subject | Date Asked | Expert |
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| CFE Cannot find work in field | 11/9/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I am a Certified Fraud Examiner and I will be completing the Executive M.S. in Economic Crime ...
A: I am amazed that with your background you have not yet found a position helping fight financial ...
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| Auditor's certificate | 10/27/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: What is Auditor's Certificate? How does it differ from Auditor's Report? In what circumstances it is ...
A: You will find these questions in a very detailed manner by visiting the IIA (The Institute of ...
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| accepting client engagement | 10/26/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I have an upcoming assignment where I am the audit partner in an audit engagement. Can you explain ...
A: Before an auditor accepts an engagement he or she has to exercise due diligence. It means, finding ...
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| Auditing | 10/5/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: What are some legitimate business practices that corporate executives can use for the primary ...
A: Manipulating earnings is usually detrimental for the organization and for the auditors as well. ...
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| audit partner | 10/2/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I have an upcoming assignment where I am the audit partner in an audit engagement. Can you explain ...
A: The term audit partner refers to a person who is a member of the audit engagement team (who has ...
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| audit plan | 9/26/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: what is the audit plan of legal and repair&maintenance expenses for company?
A: The audit plan is the same regardless of the account you are auditing. A good approach could be: • ...
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| Auditing | 9/21/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: How long after an employee leaves contractor A is it ethical to perform a financial audit of ...
A: Coupled with ethical matters is the contract clause that states how long you are prevented for ...
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| INTERNAL AUDIT AND IT AUDIT | 9/7/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: what are the steps involved in auditing
A: The steps involved in auditing are: 1) Pre planning the engagement 2) Learning about the client and ...
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| Bad to Worse | 9/2/2009 | Richard Stolp |
Q: Stolp, I've been audited. I'm a fairly new entrepreneur; in 2005 while earning a BSEB degree I ...
A: Sorry for the tough times. I would still take a few deep breaths and send a letter to the IRS. The ...
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| Bad to Worse | 9/2/2009 | Richard Stolp |
Q: Stolp, I've been audited. I'm a fairly new entrepreneur; in 2005 while earning a BSEB degree I ...
A: Is it just the mileage the IRS doesn't like? If you put, say on average, 75 miles a day on your ...
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| Bad to Worse | 8/30/2009 | Richard Stolp |
Q: Stolp, I've been audited. I'm a fairly new entrepreneur; in 2005 while earning a BSEB degree I ...
A: WCM, I would call the number on your notice and ask what your options are. I would also search the ...
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| School Activity Account Audit and Booster Club Audits | 8/26/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I have requested an audit done on our Dance Team Booster Club...this organization in its bylaws ...
A: If this organization is has a non tax exempt, they must be in compliance with IRS regulations. You ...
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| A Q | 8/13/2009 | Richard Stolp |
Q: I am American citizen working overseas in a foreign country at this time. I started working overseas ...
A: Sam, You must work overseas for a full year, I believe the number of days is 330, or you receive no ...
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| A Q | 8/13/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I am American citizen working overseas in a foreign country at this time. I started working overseas ...
A: Since I am prevented for providing tax advise, I suggest that you cut and paste the link below, ...
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| Bonus shares | 8/9/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I read your answer on bonus shares. I have a doubt. Suppose a company has got USD100000 in its cash ...
A: Deay Gyan, Thank you for contacting me. These are two different transactions. The face value of ...
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| Request for your opinion | 8/4/2009 | Richard Stolp |
Q: I am Salim Shahi, working at Hyderabad for one reputed organization since 28.07.08. Due to some ...
A: Are you at work in the US? I'll review US general practices. You are correct that you may quit your ...
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| Audit Plan and workpapers | 8/3/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I am unsure of how to formulate an audit plan i.e the contents of an audit plan and can you explain ...
A: I believe the letter below issued by the American Institute of Certified Public Accountants will ...
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| Need advice on how to transition from an IT career to IT Audit | 8/1/2009 | Don Sadler |
Q: I have worked as a network engineer for the past 15 years doing operations, implementation and ...
A: I believe you underestimate the value you would bring to any audit shop. In almost every audit ...
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| Audit Plan and workpapers | 7/30/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I am unsure of how to formulate an audit plan i.e the contents of an audit plan and can you explain ...
A: Below is a sample of the way an audit plan was formulated by an entity. It should give direction. I ...
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| Breaking into the field of IT Auditing | 7/24/2009 | Don Sadler |
Q: I don't have an IT background nor have I ever worked in IT, but I have passed the December 2008 CISA ...
A: Karl, You have a made a good choice. Both PCI and HIPAA will be hot for a long time; especially ...
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| Beginning Balances | 7/23/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: If you are auditing a company for the first year, what types of tests or methods should be used to ...
A: Reviewing the predecessor auditor’s working papers can provide sufficient appropriate evidence ...
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| QUERY ABOUT CFE..Pls Guide, Thanx | 7/20/2009 | Don Sadler |
Q: Its nice to see your valuable advice to all. Pls provide me some guidance also. I have a Bachelors ...
A: Patel, the CFE is a good certification although I have never seen a person have ONLY this ...
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| Audit testing of member dues | 7/15/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I am trying to Design a test for Member dues. They are actually called "check-off" dues as they are ...
A: I have seen organization matching members' dues similar to the situation you described. For example, ...
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| de minimis | 7/9/2009 | Don Sadler |
Q: how do you calculate de minimis?
A: ‘de minimis’ is a term used to refer to occasional benefits an employee receives that are ...
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| Fraud | 7/1/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I was recently working with a company that does not report about 95% of their cash intake. They have ...
A: I am so sorry to hear that this fraud scheme is affecting you. I am happy though that you are taking ...
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| Advanced Degree VS Certification | 6/28/2009 | Don Sadler |
Q: I just graduated from college and couldn’t find a job in this tough economic time. The job market ...
A: Yes, I would go for the MBA AND for the CPA. The CPA is the best of all certifications... not that ...
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| wanna ask a question, | 6/27/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: sir i wanna ask what is inflation , how we count it,where it is count in india,on what product it is ...
A: As per the Investopedia, below please find some information about your question. If you need further ...
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| audit workpapers | 6/25/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I completed an audit of a N.C. governmental unit under Government Auditing Standards. The attorney ...
A: The document below could give you some insight regarding your concern. In addition the PCAOB AU ...
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| SS-8 | 6/17/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: I worked for a company as a regular employee. After some time, the company re-classified me as a ...
A: This is what the Internal Revenue Service, IRS states: Treating employees as nonemployees:(From the ...
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| AICPA Depreciation | 6/15/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: Where can I lookup the Depreciation methods in accordance with the AICPA? I would like to know the ...
A: Depreciation methods in accordance with Generally Accepted Accounting Principles can be found in the ...
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| Sales and Use Tax-Florida | 6/15/2009 | Richard Stolp |
Q: I own a cleaning company in Florida. I recently received a notice stating I was being audited by the ...
A: I would call the Florida State Dept of Revenue and talk to them about how to solve your balance due. ...
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| Is my Accountant negligent in this matter..... | 6/9/2009 | Richard Stolp |
Q: I was audited for tax years 2005 and 2006 and the matter was settled/resolved by my accountant in ...
A: Best of luck on resolving this with your CPA. I hope he surprises you with his answer. One minor ...
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| Is my Accountant negligent in this matter..... | 6/8/2009 | Richard Stolp |
Q: I was audited for tax years 2005 and 2006 and the matter was settled/resolved by my accountant in ...
A: I'd be happy to give my opinion, but it's only that. From your side of the story it sounds like you ...
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| IT Audit Career | 5/29/2009 | Don Sadler |
Q: I have worked in IT for 12 years on and off as a contractor due to the bad job market for IT Pros. I ...
A: I have had the pleasure of mentoring several experienced IT people as they mad the transition to IT ...
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| external auditing | 5/18/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: what is external auditing?
A: External auditing is the process through which and auditor, a Certified Public Accountant (CPA), ...
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| Auditing | 5/11/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: What is meant by the Continuous Audit? Compare between Continuous Audit and Periodical Audit. How ...
A: This is a homework question. I suggest you do your own research otherwise you will not be well ...
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| auditing | 5/4/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: Describe the main provisions of company law regarding the appointment, duties and removal of an ...
A: I am under the impression that your question is a school assignment. Hope you do not expect someone ...
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| Separation of Duties | 4/29/2009 | Don Sadler |
Q: I work for a non-profit organization in New York. What is the auditing practice as it relates to ...
A: The concept of separation of duties is that of an internal control designed to ensure that no single ...
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| balance sheet | 4/25/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: how do i prepare a balance sheet in a case where i have no assets, no liabilities but received only ...
A: It seems that you received a grant for a special project. If it is the case, visit TechSoup.org ...
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| auditing | 4/22/2009 | Consuelo Herrera, International Accountant and Fraud Examiner |
Q: What is the procedure followed by a company while making an issue of bonus shares? What are the ...
A: When a company has accumulated large reserves which cannot be disrtibuted as dividends in cash ...
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