- Association News
- The Value Examiner
- National Litigation Consultants' Review
- Journal of Forensic and Investigative Accounting
- Around the Valuation World®
- Call for Authors
Al Capone: A Biography
Luciano Iorizzo, 2003, 133 pp.
88 Post Road West
Westport, CT 06881
For more than 70 years, Al Capone has been equated with wealth, violence, and corruption. This concise biography has two chapters appropriate for forensic accountants that are about his trial to put him away for income tax evasion based upon trumped-up charges. Elliott Ness and his untouchables were unable to lock him up for murders and peddling booze and beer.
Using the net worth method (e.g., he spent more than $30,000 in phone calls in 1929) and switching the jury at the last moment, Judge Wilkerson was able to sentence Capone to eleven years imprisonment and fine him $50,000 plus court cost of $30,000. In 1990, the American Bar Association staged a mock trial and the jurors in the mock trial voted Al Capone not guilty. The jurors believed the government did not document his earned income.
Computer Forensics: Cybercriminals, Laws, and Evidence, 2nd Edition
Marie-Helm Marsas, 2015, 408 pp.
Jones & Bartlett Learning
5 Wall Street
Burlington, MA 01803-9820
This textbook is written for students in computer forensics courses and covers core topics, including defining the different types of cybercrime, conducting an investigation, the process of retrieving and analyzing digital evidence, network forensics, laws relevant to electronic evidence, and many more. The soft cover book is also ideal for students in legal courses who are seeking an introduction to the technology involved in computer forensics investigations and the technical and legal difficulties involved in searching, extracting, maintaining, and storing electronic evidence, while simultaneously looking at the legal implications of such investigations and the rules of legal procedure relevant to electronic evidence.
The author provides an excellent chapter on cybercrime laws, entitled “Which Statute for Which Crime.” Other key features:
Skeptics: Viewing the World with a Rational Eye
Michael Shermer, 2016, 283 pp., $28.00
Henry Holt & Company
175 Fifth Avenue
New York, N.Y. 10010
The PCAOB complains that external auditors are not skeptical enough. Of course, forensic accountants and internal auditors are trained to be skeptical. This author turns a critical eye toward questions big, small, and trivial, according to a Kirkus Review.
Seventy-five of his columns are available together for the first time, covering a wide range of subjects, from psychology and human nature to religion and pseudoscience. The book is a welcome addition for Shermer’s fans and provides a stimulating introduction for new readers. This book is an excellent collection from a leading science commentator.
These columns appear in his skepticism section:
Phantom Billing, Fake Prescriptions, and the High Cost of Medicine: Health Care Fraud and What to Do about It
Terry L. Leap, 2011, 237 pp., $32.95
U.S. health care is a $2.5 trillion system that accounts for more than seventeen percent of the nation’s GDP, which is highly susceptible to fraud. Estimates vary, but some observers believe that as much as ten percent of all medical billing involves some type of fraud. In 2009, New York's Medicaid fraud office recovered $283 million and obtained 148 criminal convictions. In July 2010, the U.S. Justice Department charged nearly 100 patients, doctors, and health care executives in five states of bilking the Medicare system out of more than $251 million through false claims for services that were medically unnecessary or never provided. These schemes only hint at the scope of the problem.
The author discusses medical fraud and its economic, psychological, and social costs. He provides illustrations throughout the book by dozens of specific and often fascinating cases. He covers a wide variety of crimes: kickbacks, illicit referrals, overcharging and double billing, up coding, unbundling, rent-a-patient, and pill-mill schemes, insurance scams, short-pilling, off-label marketing of pharmaceuticals, and rebate fraud, as well as criminal acts that enable this fraud (e. g., mail and wire fraud, conspiracy, and money laundering). After assessing the effectiveness of the federal laws designed to fight health care fraud and abuse—the anti-kickback statute, the Stark Law, the False Claims Act, HIPAA, and the food and drug laws—the author suggests a number of ways that health care providers, consumers, insurers, and federal and state officials can bring health care fraud and abuse under control, and hopefully reducing the overall cost of medical care in the U.S.
A Consensus View: Q&A Guide to Financial Valuation
J.R. Hitcher; S.P. Pratt; and J.E. Fishman, 2016, 337 pp.
Valuation Products and Services
6601 Ventnor Avenue, Suite 101
Ventnor City, N.J. 08406
The three respected appraisers provide four chapters:
Computer Forensics: InfoSec Pro Guide
David Cowen, 2013, 318 pp.
This book is written to help those already in IT to cross ours to a career in computer forensics, the reader should be in the IT field and have a working technical knowledge of computer, including how they work and how to repair them.
In seventeen chapters the book covers:
2016 Valuation Handbook:Guide to Cost of Capital
R. J. Grabowski et al., 2016
John Wiley & Sons
111 River Street
Hoboken, N.J. 07030-5774
This volume is the third years of publication. In chapter 2, the authors have added a new exhibit (Exhibit 2.4) which presents summary statistics of total returns, income returns, and capital appreciation returns of basic asset classes, as measured over the time period 1963-2015. The 1963-2015 time horizon matches the time horizon over which the size premia, “risk premia over the risk-free rate”, and other statistics in the Risk Premium Report Study exhibits are calculated. The new Exhibit 2.4 is the equivalent to the existing Exhibit 2.3, which presents summary statistics of total returns, income returns, and capital appreciation returns of basic U.S. asset classes, as measured over the time period 1926-2015. The 1926-2015 time period matches the time horizon over which the size premia, equity risk premia, and other statistics in the CRSP Deciles Size Study exhibits are calculated.
They have updated and added to the discussion in Chapter 3 of the risk-free rate and the equity risk premium with analyses of the effects of flight to quality and massive central bank monetary interventions on these two important costs of capital inputs.
In Chapter 4, “Basic Building Blocks of the Cost of Equity Capital-Size Premium”, the authors have expanded their discussion of liquidity as a predictor of returns, with a summary of Roger Ibbotson and Daniel Y.-J. Kim’s 2016 update to their 2013 article “Liquidity as an investment Style”.
They also added to Chapter 12, “Answers to Commonly Asked Questions.” More questions received from valuation analyst.
Blacklegs, Card Sharps, and Confidence Men: Nineteenth-Century Mississippi River Gambling Stories
Thomas R. Smith, editor, 2010, 271 pp.
There are fraudsters in every profession and in many organizations, whether its VW and Mitsubishi Motors emission frauds. This editor provides twenty-eight stories about the rascals who rode the steamboats up and down the Mississippi River. Mr. Smith has collected nineteenth-century stories, sketches, and book excerpts by a gallery of authors to create a comprehensive collection of writing about the river-boat gambler. Long an iconic figure in American myth and popular culture but, strangely, one that has never until now received a book-length treatment, the Mississippi River gambler was a favorite character throughout the nineteenth century-one often rich with moral ambiguities that remain unresolved to this day.