Forensic Update

Reflections on information management within the legal and regulatory arena

Archive for the ‘Forensic Accounting’ Category

Proud to join an august panel @ LegalTech 2018…

Posted by Johnny Lee on January 23, 2018

I am thrilled to be sharing the stage with Chris Dale, Meribeth Banischek, David Horrigan, and Rachi Messing to discuss cross-border data issues in investigations and compliance at #Legalweek18 … come join us for a lively discussion!

Details can be found here

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Posted in CyberSecurity, Data Breach, Data Governance, ECM, eDiscovery, Forensic Accounting, Information Security, Investigations, Privacy, Records Retention | Comments Off on Proud to join an august panel @ LegalTech 2018…

“Controlling your Data Avalanche” Webinar…

Posted by Johnny Lee on October 27, 2011

 

I am pleased to announce that I will join luminaries from Vedder Price, a prominent U.S. law firm, in a discussion on “Managing your Data Avalanche” on November 16, 2011.  This webinar will delve into strategies for satisfying an organization’s legal obligations associated with Records Retention, eDiscovery, Litigation Holds, and Data Privacy.

“All too often, companies approach their data management obligations reactively and in a piecemeal fashion. This need not be the case; in fact, companies can satisfy their legal obligations with greater certainty — and more economically — through comprehensive data management strategies.”

This Webinar will be of interest to General Counsel, Chief Compliance and Information Officers, and those with a key role in managing eDiscovery or litigation within an organization.  This Webinar will provide an overview of legal trends in data management, with a specific focus on social media, cloud computing, eDiscovery, litigation holds, and data breach preparedness and response.  We will discuss ways in which companies can better manage their data through proactive data-management strategies.

To register for this webinar, please click here.  (Login information and presentation materials will be sent to registrants prior to the webinar.)

Click to learn more about Grant Thornton’s Forensics, Investigations and Litigation practice.   Click to learn more about Vedder Price’s Records Management, eDiscovery and Data Privacy practice.

Posted in Announcement, Computer Forensics, Data Governance, ECM, eDiscovery, Forensic Accounting, Information Security, Investigations, Litigation Hold, Privacy, Records Retention, Social Networking | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Comments Off on “Controlling your Data Avalanche” Webinar…

Radio Show Appearance: Guest Expert on Business Fraud Awareness

Posted by Johnny Lee on September 6, 2011

ForensicUpdate editor, Johnny Lee, hit the airwaves again with colleague Philip Ratliff.  This time our host was Alan Butler, host of Atlanta’s Premier Business Talk Show “Butler on Business.”  Alan and co-host Jason Riddle facilitated a lively discussion covering a areas of concern to business owners and managers alike.

Listen as Philip Ratliff and Johnny Lee of Grant Thornton LLP’s Atlanta Forensics & Litigation practice comment on a broad variety of fraud issues facing organizations—especially in a down economy.  Segment one of the program can be found here; segment two can be found here. Please note that the views and opinions expressed are personal views and are not necessarily those of Grant Thornton; click here for more on this.

Posted in Computer Forensics, Data Governance, ECM, eDiscovery, Forensic Accounting, Fraud, Information Security, Investigations, Litigation Hold, Privacy, Records Retention, Social Networking | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Comments Off on Radio Show Appearance: Guest Expert on Business Fraud Awareness

Focus on Forensics ─ The Economist’s role in change-of-workforce discrimination cases

Posted by Johnny Lee on June 16, 2011

From Grant Thornton: “Companies involved in either reductions or expansions in force should be prepared for scrutiny over whether the composition of affected employees or job applicants is driven by business-related factors and whether there is evidence of an adverse impact on protected class members. In The role of economists in reduction (or expansion) in force discrimination cases we discuss how economists can assist a company’s legal counsel in validating or invalidating a plaintiff’s claim that the selection process has had an adverse impact on employees in a protected class.

This timely thought leadership comes from Grant Thornton’s Focus on Forensics series, a newsletter providing valuable forensic insights into some of the most complex and critical challenges facing businesses and legal counsel today.  Click here for prior online editions of this newsletter or to subscribe to upcoming editions, and click here for more information about a Grant Thornton Forensic & Litigation Services professional near you.

Posted in Announcement, Data Governance, eDiscovery, Forensic Accounting, Records Retention | Tagged: , , , , , , , , , , , , , , , , , | Comments Off on Focus on Forensics ─ The Economist’s role in change-of-workforce discrimination cases

Can’t you hear the whistle blowing?

Posted by Johnny Lee on February 8, 2011

Dodd-Frank Act creates new record-keeping requirements for Commodities Traders…

On July 21, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act.  This law creates significant financial industry changes as well as an “incentive program” that provides monetary rewards to individuals who report securities violations (so long as those reports lead to the government’s recovery of sanctions exceeding $1 million in criminal and civil proceedings).  The law also establishes record-keeping and reporting requirements for swap dealers and major swap participants, and it requires the Commodities Futures Trading Commission (“CFTC”) to adopt rules that prescribe which records must be maintained by swap dealers and major swap participants.

Obviously, there are immediate and impactful changes to companies put on notice about potential whistleblower reports.  The new “bounties” will arguably increase the number of whistleblower allegations, while the language of the new Act will make the careful steps taken by companies and their legal counsel even more important, as they embark upon independent internal investigations “as quickly and accurately as possible to determine the overall scope of the allegations and level of misconduct committed.”

Companies subject to the Act, would be required under the proposed CFTC rules to maintain full and complete transaction and position information for all swap activities.  Further, these records must be maintained in a “manner that is identifiable and searchable by transaction and by counterparty.”  Likewise, the proposed rules would require the retention of basic business records, including corporate governance minutes, organizational charts, and audit/compliance documentation.  The Act’s data retention requirements even extend to certain financial records (such as information related to cash positions or forward transactions used to hedge), records of complaints against personnel, and marketing materials.  The good news in all of this is that those entities already compliant with existing CFTC records rules would see no changes to at least the retention periods.

For an excellent write-up of the broader impacts of the Dodd-Frank Act, click here.  Check dodd-frank.com for a general overview of the Act and for updates on this Act and other important securities laws.

Posted in Computer Forensics, eDiscovery, Forensic Accounting, Fraud, Investigations, Litigation Hold, Records Retention | Tagged: , , , , , , , , , , , , , , , , , , , , , , | 1 Comment »

Business damages measurement: Lost profits or business valuation?

Posted by Johnny Lee on January 26, 2011

In business litigation matters, financial experts are often asked to provide an opinion on how to quantify economic damages suffered by an injured party.  In the most recent article, “Business damages measurement: Lost profits or business valuation?” experts discuss two common damages estimation approaches:  1) business valuation and 2) lost profits.  While the approaches are based on some common economic and financial principles, differences in how they are calculated can lead to very different outcomes.  The article also addresses such questions as:

  • Can one apply both methods to the same damages calculation?
  • Can lost profits exceed business value?
  • Is one method more certain, or does it provide a better estimate, than the other?
  • Do certain circumstances indicate that one method must be used?

Read more in Business damages measurement: Lost profits or business valuation?

If you would like to subscribe to Focus on Forensics or another Grant Thornton LLP publication, please fill out this subscription form.

Posted in Forensic Accounting, Fraud, Records Retention | Tagged: , , , , | Comments Off on Business damages measurement: Lost profits or business valuation?

Grant Thornton “Focus on Forensics” White Paper

Posted by Johnny Lee on June 3, 2010

In a struggling economy, the inevitable discoveries of fraud are significant. Asset tracing is a challenging, but necessary method used to help identify recoverable assets from today’s fraudsters. But not all assets are created equal – there are both known (traceable) and unknown (unidentified source) assets that must be tracked in order to see the full picture of complex fraud today.

In the March issue of Focus on Forensics, Kelly Gentenaar, senior manager in Grant Thornton’s Forensic Accounting, Fraud and Investigations Services practice discusses the two distinct analytical options used by investigators in a systematic three-step approach to follow the money trail and determine unknown stores of wealth.

Read more in “Tracking transactional footprints in a globalized world.”

If you would like to subscribe to Focus on Forensics or another Grant Thornton LLP publication, please fill out this subscription form.

Posted in Computer Forensics, eDiscovery, Forensic Accounting, Investigations | Tagged: , , , , , , , , , , , , , , | Comments Off on Grant Thornton “Focus on Forensics” White Paper

 
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