Key Controls to Prevent Inventory Fraud

10/06/18

If controls are not in place to prevent the theft of inventory, companies can experience significant fraud losses. Key controls to prevent theft of inventories are listed below: • Segregation of duties between custody of goods and record keeping for the related inventory • High-dollar...

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Use of “Data Analytics” to Detect or Prevent Purchasing Fraud

8/31/18

In our July 2018 WNDE newsletter, we discussed the detection and prevention of purchasing fraud. Special computer software is available that can perform “data analytics” on a large computer database of purchasing and vendor transactions, in order to identify unusual or suspicious transactions....

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Starting a Business

Four Tax Tips for Starting a Business

6/11/18

If you are thinking about starting a business, proper tax planning can play an important role in your success. Here are four tax tips for new business owners you may find helpful: 1. Business Structure. An early choice to make is to decide on the type of structure for the business. The most...

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Employee

Employee or Independent Contractor? Know the Rules

6/11/18

The IRS encourages all businesses and business owners to know the rules when it comes to classifying a worker as an employee or an independent contractor. An employer must withhold income taxes and pay Social Security, Medicare taxes and unemployment tax on wages paid to an employee. Employers...

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WNDE Staff

Four Join WNDE Staff

6/04/18

WNDE is pleased to welcome four new members to the WNDE Staff: Tram Hoang is a tax senior. She earned a B.S. in Finance, Hospitality Management at CSULB and worked previously at Hall & Company CPAs. Connor Kirby is an audit senior. He earned a B.A. in Business Administration with a...

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Purchasing Fraud

Detection and Prevention of Purchasing Fraud

5/25/18

Types of Purchasing and Vendor Fraud Some common forms of purchasing and vendor fraud are listed below: • Bribery and corruption (kickbacks, gifts and gratuities to company official and/or employees from contractors and vendors) • Bid-splitting schemes • Change order schemes (often...

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The Top 10 Things Companies Need to Know About Tax Reform

2/05/18

By the WNDE Tax Group The $1.5 trillion new tax law represents the most sweeping change to tax code in a generation. Tax reform of this magnitude will have broad implications for businesses of all sizes and in all industries. While the WNDE tax departments wades through the 185-page legislation,...

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WNDE Partners Serve as Professors at Irvine Valley College

7/27/17

Two WNDE partners, Deana Bowden (left) and Candace Huie (below), teach part-time at Irvine Valley College (“IVC”).  Deana teaches auditing, and Candace teaches business income taxation.  Deana enjoys teaching at IVC, she said, because the students “have a desire to learn and want to be...

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Cybersecurity Incident at Equifax: What to Do

9/11/17

On September 7, 2017, Equifax (one of the nation’s three leading consumer credit reporting agencies) announced a cybersecurity incident potentially impacting approximately 143 million U.S. consumers. Equifax discovered that criminals exploited a U.S. website application vulnerability to gain...

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WNDE Hosts Summer Leadership Program

8/16/17

White Nelson Diehl Evans LLP was proud to host its 2nd annual Summer Leadership Program at WNDE’s Irvine office and at the nearby Second Harvest Food Bank July 27-28.  The program gave 20 Southern California sophomore, junior and senior college students, who are interested in exploring a...

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