risk management

auditors: the world needs you in the fight against terrorism

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what the profession needs to know about money laundering. 

by wm. dennis huber and larry crumbley

there are difficulties in measuring funds channeled into financing terrorist organizations and activities worldwide. various sources estimate this funding to be between $590 billion and $1.5 trillion through money laundering. pwc suggests that “money laundering transactions are estimated at 2% to 5% global gdp, or roughly $1-2 trillion annually.”

however, financing terrorist organizations and activities is not necessarily the result of money laundering. financing terrorist organizations and activities may be accomplished by reverse money laundering, or “money dirtying” which may make financing terrorist organizations and activities even more difficult to estimate.

just as evidence of fraud cannot be ignored, so too evidence of financing terrorist organizations can no longer be ignored.

the goal of money-launderers is, like that of a corporate enterprise, to maximize profits and reduce risk while the goal of terrorists, on the other hand, is to further a political agenda or ideology, or to destroy or kill with no regard to profits and with little regard for risk. read more →

how to fire a client

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big businessman foot on spring kicking three businesspeoplebonus: sample client disengagement letter.

by sandi leyva and michelle long

how many clients have you fired?

more small firm growth strategies: what to do when a client doesn’t pay | the dreaded ‘quick question’ | how to handle referrals – and how not to | why clients need dashboards | 3 ways to raise your prices | your existing clients are your best leads | need more business? focus on referrals

let’s talk about firing a client because sometimes you do need to fire your client. maybe they’re difficult to work with, or a guy is belligerent and loud and yells, and you don’t want to work for him. maybe there are ethical issues.
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5 no-brainer ways to avoid malpractice lawsuits

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businessman lifting big elephant on dry ground - leadership conceptbasic risk management strategies too often overlooked.

by sarah beckett ference, cpa
cna financial corp.

when money is lost, whether from embezzlement, a poor investment, or just a bad business decision, a cpa firm’s clients and third parties can be quick to assign blame to someone else. often, that “someone else” is their cpa.

anybody can sue a cpa firm… for anything… at any time. all it takes is some paperwork and minimal court filing fees. courts may even permit plaintiffs to fix insufficient allegations and re-plead their case. and, unfortunately, a cpa can do nothing about it. while the actions of clients and third parties can’t be controlled, there are some fundamental activities and behaviors cpas can employ to help reduce the potential of a professional liability claim or, should a claim be made, improve its defensibility.

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