November 2020 Forensic & Valuation Insight

Dear Clients, Colleagues and Friends,

As we approach the end of 2020, myself and other professionals at Shilts CPA are looking back at what has been and trying to determine what will be (at least in 2021). The challenges presented by the COVID-19 pandemic will likely continue to impact businesses and individual behaviors into 2021. The AICPA has committed resources to educating its membership on bankruptcy services provided by CPAs and I am happy to be a member of the Task Force on this. We are also aware of indications of distressed assets and workouts specifically related to the hotel and tourism industry that will impact Florida directly.

Please know, that whatever occurs, Shilts CPA’s professionals will be trained to assist you through any matter you may encounter as we continue to build and enhance our “toolbox” of skills and professionals. Our goal in 2021 is to “provide answers” to help you implement solutions.

Josh Shilts, CPA/ABV/CFF/CGMA, CFE

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Some of the articles and content we want to make you aware of are

1. November 15-21, 2020 is International Fraud Awareness Week, or Fraud Week. This campaign was established by the Association of Certified Fraud Examiners (ACFE) and Shilts CPA is proud to support it! Our social media accounts will be dedicated during this time to raising awareness about fraud and we would like to invite you to follow us as we try to encourage business leaders and employees to proactively take steps to minimize the impact of fraud.

Other articles of interest

• Fraud, Economic Damages & Forensic Accounting
• Courts are Weighing in on COVID-19 Business Interruption Claims
• When To Pull the Plug: Factors to Consider in Deciding Whether to End The Relationship with A Business Partner (Part 1)
• Delaware Court of Chancery Uses Company’s DCF Model as Fallback Approach
• Prince’s Estate Sues IRS Over Claimed $163 Million Tax Value
• COVID-19 Challenges to Forensic Accounting
• Spotting Fraud During the Bankruptcy Process: Top Red Flags

Shilts Speaks/Calendar of Events

Our President, Josh Shilts, is passionate about sharing his expertise. The following are upcoming events Mr. Shilts will be speaking at and we would like to encourage you to join us.

Top 5 Fraud Schemes

Any advice contained in this article, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.