IMA CharlotteApril Breakfast CPE Event
Apr 17th, 2012 7:30 am - 9:00 am
Maggiano's Little Italy @ Southpark
“Fraud in a Changing Economy”
The economy has certainly been cause for concern both for our organizations and for us as individuals. And fraud by itself is always a cause for concern regardless of the state of the economy. So when you combine the two together there tends to be a lot of discussion, speculation, and even worry about the impact the economy has or will have on fraud and what that means to us.
There are studies that suggest that the crime rate increases during recessionary periods. So it could stand to reason that fraud could increase in a similar manner during a recessionary period. There is a general belief that fraud increases in a down economy and in fact, KPMG’s Fraud Survey indicated that 75% of Executives believed that fraud and misconduct risks, such as misappropriation of assets and fraudulent financial reporting, would either stay the same or increase. And again this can be a cause for concern and uncertainty, but there is a way to look at fraud and a way to look at the economy that can help eliminate the speculation and eliminate the worry of uncertainty.
SPEAKERS:
ANDREW S. ADAMS, CPA Manager, Forensic Services
Andrew Adams is a Manager in the Charlotte office of KPMG LLP’s Forensic Advisory Services practice. Andrew joined KPMG in 2005 in financial statement audit and has since transitioned into a forensic concentration. Andrew’s engagements have involved analyses relating to the financial, accounting, and economic needs of clients and counsel. These engagements have included disputes, investigations, financial statement carve-outs, and audits across industries such as financial services, healthcare, government, manufacturing, telecommunications, and real estate.
JUSTIN H. SNELL, CPA Director, Forensic Services
Mr. Snell is a Director in KPMG’s Forensic practice. He has fifteen years of accounting experience in both public accounting and private industry. Mr. Snell began his career in the audit practice where he coordinated and conducted financial statement audits of public and private companies. He has experience in a number of industries and while in the Forensic practice he has gained extensive experience including fraud and misconduct investigations, fraud risk management, litigation support, damage computation, post purchase price disputes, record reconstruction, and business interruption claims.