Inventory Fraud

Key Controls to Prevent Inventory Fraud


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


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


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 or Independent Contractor? Know the Rules


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


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


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


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


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


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


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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