Author Archives: North American Forensic Accounting

Uncovering Hidden Risks in a Business Acquisition

When contemplating the purchase of a company or new business unit, fraud usually isn’t top of mind. However, seasoned business professionals should understand that overlooking the possibility of hidden risks in your acquisition target could lead to serious financial and legal consequences both now and in the future. Including a forensic accountant on your acquisition team could help you move the transaction along smoothly, without unpleasant surprises.

By North American Forensic Accounting | Published July 1, 2023 | Posted in Business Services, Fraud Investigation, Risk |

Protecting Your Business: Mitigating Financial Statement Fraud Risk

Financial statement fraud is a serious threat that can have pervasive consequences for businesses, investors, and insurers alike. Understanding the impact of financial statement fraud on your business is crucial. By being well informed about the warning signs and implementing preventive measures, you can better protect yourself from potential financial losses and expensive legal proceedings.

By North American Forensic Accounting | Published June 1, 2023 | Posted in Risk |

Jury Awards $22 Million in Back Pay to Manufacturing Employees

The U.S. Department of Labor (DOL) recently made an announcement regarding the outcome of a groundbreaking case, Walsh v. East Penn Manufacturing Co, Inc., DC-PA. In this landmark verdict, a jury has granted more than $22 million in back wages to approximately 7,500 employees of a battery manufacturer. This award represents the largest recorded verdict under the Fair Labor Standards Act (FLSA). Additionally, the DOL, as the plaintiff, intends to seek an equal amount in liquidated damages and an injunction mandating future FLSA compliance by the battery manufacturer.

By North American Forensic Accounting | Published May 1, 2023 | Posted in Forensic Accounting |