A forensic accountant is someone who is trained & certified in forensic accounting, auditing and the investigation of white-collar& financial crimes. Forensic accountants become experts in the detection, prevention and deterrence of fraud and are often called upon to testify with respect to:
- Criminal Activities engaged by Perpetrators,
- Fraudulent Financial Transactions,
- Calculating & quantifying losses and economic damages,
- Disagreements relating to company acquisitions,
- Business valuations
CPAs and other accountants often want to become forensic accountants because they are ‘answered oriented’ by nature and testifying as an expert to the logical conclusions they reach seems to be simple, straight-forward, and a direct extension of what they already do.
If you are one of these aspiring forensic accountants, hang on to your hats because you are in for a wild ride in the courtroom!!! Many neophyte experts go into the courtroom thinking that everyone is in search for the ‘truth’ and all they have to do is explain the reason for their conclusions and everyone will be satisfied. You need to understand that whichever side you are on, the opposing counsel is not interested in having you ‘speak the truth’. On the contrary, get ready for an all out attack on your education, experience, assumptions, findings, calculations and conclusions!! The cross-examining attorney will engage in a game of ‘Knockout’ and will try to discredit you, your work, and/or your findings in any way that they can.
So expect to be attacked and fend off the onslaught by following these five (5) golden rules of testifying courtesy of the ACFE, Certified Fraud Examiners Manual (www.acfe.com):
· Dress professionally, maintain a professional demeanor: Be calm & deliberate in responding to questions.
· Speak clearly & audibly: Refrain from using jargon (simple ‘lay’ words are better); look directly at the question poser (be it attorney, judge or a juror).
· Prepare & know your area of expertise and the facts: Do not read from notes; listen to the question and answer it directly (do not volunteer more that the question requires); if you don’t understand the questions, then ask for clarification; create space between the question and answer to give supporting counsel time to object to the question (this buys time to make more thoughtful responses).
· Be friendly & polite: To all parties, even when the cross-examining attorney is attacking you (otherwise you will appear combative or argumentative); “Never let them see you sweat!!”
· Most importantly, be honest & tell the truth: Do not invent, do not be evasive.
If you can handle being attacked and you can follow these five (5) golden rules, then Congratulations!! You are going to have a great career as a forensic accountant!!!
Martin Mercer is an experienced forensic accountant, and has been a Certified Public Accountant and an Attorney with over 25 years of experience in business management, financial planning, information technology, and software development. Marty comes from a ‘Big 4′ accounting background and has accumulated a breadth of experience leading and managing the fiscal, operational, and technological functions of companies whose industries include real estate, software development, e-commerce, law, tax, insurance, and public accounting. His expertise includes finance and accounting, legal/contract negotiations, e-business, e-commerce, strategic marketing, new product development, organizational development, and IT integration project development. Additionally, for over 20 years Marty has taught accounting theory, auditing, business law, and computer science to college students and CPA candidates.
B2B CFO NAMED IN PRESTIGIOUS INC. 5000 LIST
184% Growth Earns B2B CFO Spot in the 2010 List of Fastest
Growing Companies in America
Phoenix, Ariz. August 24, 2010 – B2B CFO, nation’s largest
provider of CFO services to small businesses, has been named to the
prestigious Inc. 5000 list of fastest growing companies in America.

Now in its 29th year, Inc. Magazine’s annual ranking judges US-based
and privately held companies by their revenue growth. This year’s
list was ranked on the percentage in revenue increase from
2006-2009. B2B CFO’s growth earned 84th place in its industry.
“There are approximately 27 million small businesses in the U.S.
today,” said Jerry L. Mills, founder and chief executive officer of
B2B CFO, “It is a huge honor to be among the fastest growing and the
most successful businesses in the country. Our firm has experienced
tremendous growth over the past few years and we are on track to
continue expanding. I am especially grateful to all of the firm’s
dedicated Partners who continue to advocate our services around the
nation.”
In a personalized letter congratulating B2B CFO on this
accomplishment, Jane Berenston, editor-in-chief of Inc. Magazine’s
wrote “Congratulations: your company, B2B CFO, has made the 2010
list of the fastest growing private companies in America. This
achievement puts you in rarefied company, especially if you consider
that over 27 million businesses are registered in the USA. The elite
group you’ve now joined has, over the years, included companies such
as Microsoft, Timberland, Visa, Intuit, Jamba Juice, Oracle, and
Zappos.com. I look forward to congratulating you in person in
Washington, D.C.”
B2B CFO’s growth is reflected in numerous awards this year. The
company was also recently named in ACE Corporate Growth Awards,
which recognized the most successful and fastest growing companies
in Arizona.
In August 2010, B2B CFO has grown to 170 Partners across 39 states,
representing 5,000 years of cumulative experience. Each Partner is a
seasoned financial executive who serves as CFO to growing businesses
on as-needed basis. Approximately 80% of the Partners have a
background that includes senior executive positions at the Big Four,
and all of the Partners have held high level executive finance
positions in various industries in corporate America. Together, B2B
CFO Partners work with more than 500 businesses in the nation with
combined annual sales of more than $3 Billion.
Jerry L. Mills and many of the B2B CFO Partners regularly dedicate
time to educate business owners on financial matters. Mills is a
frequent speaker and contributor and has been featured on many
national media networks including FOX Business, Fortune Small
Business, Smart Money and many others. Mills is also the author of
The Danger Zone – Lost in the Growth Transition, and Avoiding The
Danger Zone – Business Illusions, both business non-fiction books
that help entrepreneurs understand and build a strong financial
strategy.
“We look forward to participating in the Inc. 500|5000 conference in
Washington, DC this fall,” added Mills. “Along with my colleagues, I
look forward to the October 2nd awards ceremony and to meeting the
entrepreneurs that created the other 5000 fastest growing companies
in America.”
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc.
is the only major business magazine dedicated exclusively to owners
and managers of growing private companies that delivers real
solutions for todays innovative company builders. Inc. provides
hands-on tools and market-tested strategies for managing people,
finances, sales, marketing, and technology.
Inc. Magazine’s 29th annual Inc. 5000 ranking of the fastest-growing
private companies in the country is available online at
www.inc.com/inc5000/list
About B2B CFO
Headquartered in Phoenix, Ariz., the firm was founded in 1987 by
Jerry L. Mills. B2B CFO is the nation’s largest CFO firm serving
entrepreneurial, growth and mid-market companies with revenue under
$75 million. The firm’s partners have an average of 25 years of
experience and each individual partner is a senior level executive
with a broad range of expertise. Please visit online at
http://www.b2bcfo.com/
Aug 10
18
Denver is located on the South Platte River eight miles east of the Rocky Mountains at an elevation of 5,280 feet (1 mile) above sea level (a round brass cap embedded in the western entrance stairs of the State Capitol marks the exact spot). Denver is one of the few cities in history that was not built on a road, railroad, lake, navigable river or body of water when it was founded. It just happened to be where the first few flakes of gold were found in 1858.
Local boosters named the frontier mining camp on the South Platte River “Denver” after Kansas Territorial Governor James Denver in hopes of gaining political favor. Unfortunately, Denver had retired by the time they named the town. There were originally three separate towns, with three separate names, where Denver now stands. In 1859, the other names were dropped in return for a barrel of whiskey to be shared by all. Fittingly enough, the first permanent structure in Denver was a saloon. Despite being warned by Indians not to build there, early settlers didn’t listen. In its first few years, Denver was destroyed twice, once by fire and once by flood.
Today, the Denver Metropolitan Area has a population of approximately 3 million with a centralized downtown, international airport, light-rail public transportation, and eight professional sports teams. People are into outdoor sports such as skiing, mountain biking, hiking, and running. The biggest surprise for visitors to Denver is the climate. The arid conditions bring only 8 to 15 inches of annual precipitation and locals wake up to more than 300 days of sunshine a year. That’s more annual hours of sun than Miami and San Diego!