Kudos Darius, Kudos: Both for seeking help and speaking up

August 17, 2014 By in Shumpty Speaks Tags: , , , , Leave a comment

I have read with interest the Sunday Mail (there are words I never ever thought I would say on this blog or any other forum) article today about Darius Boyd and his battle with depression (link here: http://www.couriermail.com.au/sport/nrl/darius-boyd-reveals-how-he-hit-rock-bottom-his-21-days-in-rehab-and-the-family-demons-he-is-confronting-to-beat-depression/story-fniabnkr-1227025848132 ).  It is a quality article about a long misunderstood rugby league player.

There is one quote that really resonated with me:

“I felt a sense of relief because I just needed to do something. I didn’t want to keep going the way I was going.’’

It is so true that the hardest step to getting diagnosed and treatment for a mental illness is to actually do something about it yourself.  The relief that Boyd speaks of and the realisation that he did not want to keep going the way he was going is something I am sure that many sufferers who have gotten help have felt.  I know I certainly did.

I salute Darius Boyd for having the insight to realise that he needed help, for getting that help and for having the courage to speak out about his condition.

In a week where we have lost the Elvis of our generation in the form of Robin Williams it is important that sufferers realise that they can seek help and they can succeed after diagnosis.  Darius Boyd’s honesty, I hope, will play a small part in that realisation.

Kudos Darius, Kudos!

Shumpty’s Punt: the Weekend Wager

August 15, 2014 By in Shumpty Speaks, Shumpty's Punt Tags: , , , , Leave a comment

Here is this weekend’s sports multi:

Leg 1: Geelong to cover the line (-14.5 points) against Carlton in the AFL

Leg 2: Port Adelaide to defeat Gold Coast by 25 or great points in the AFL

Leg 3: South Africa to cover the line (-24.5 points) against Argentina in the Rugby Championship

Leg 4: New Zealand to defeat Newcastle by 13 or more points in the NRL

Leg 5: Manly to defeat Gold Coast by 13 or more points in the NRL

This multi will return $52 (ish) for each dollar invested.

As always:

  1. Please gamble responsibly.
  2. All care is taken with tips on this website but no responsibility vests for loses incurred.

Forensic Friday: What is Forensic Accounting?

August 15, 2014 By in Shumpty Speaks Tags: , , , Leave a comment

The most regularly asked question that has been posed to me since I moved into forensic accounting, from those who are not in professional services is, simply, what is forensic accounting?

There are a plethora of definitions but I think this quote (from David Malamed, a forensic accountant from Canada) is a great summary:

“While Forensic Accountants (“FAs”) usually do not provide opinions, the work performed and reports issued will often provide answers to the how, where, what, why and who. The FAs have and are continuing to evolve in terms of utilizing technology to assist in engagements to identify anomalies and inconsistencies. It is important to remember that it is not the Forensic Accountants that determine fraud, but instead the court.”

It is important to realise that a forensic accountant’s role is not to provide an opinion, as noted in the quote above, but to provide, most regularly in report form, a factual statement.  Forensic accountants state facts in report form, to a standard acceptable to the court, often to assist corporate organisations or government agencies investigate a particular allegation that has been made or as part of the litigation process.

There are a number of specific areas in which forensic accountants often work.  Ultimately, however, the work of a forensic accountant can be distilled into two types:

  • litigation support; and
  • investigative accounting.

Forensic accountants are also regularly called upon to provide pre-dispute advice to clients in the context of risk minimization and the deterrence of conduct.

Obviously, this type of work is fast paced and often intricate and that is why I so, already, enjoy it.  In coming posts I will expand on some of the areas in which forensic accountants specialise as well as to explain the techniques used by forensic accountants to undertake the work that they do.

Postscript: If you have any questions or specific topics you would like me to cover as part of this series please do not hesitate to comment as part of this post or drop me an email at the address noted on the About page of this blog.