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Is Your Accounting Accountable?

Whether we like it or not, everyone is susceptible to a lawsuit and where there is business and money there is liability. Accountants all know and understand that one day you may be required to stand in judgment before one of the almightiest (it could be God, or the IRS, or it might be a judge). The actual accounting forensics we are speaking of is what happens before your accountant gets the books; it happens at the stop at Starbucks, or for lunch or on a business trip; all might be scrutinized in a lawsuit. The liability begins when the business how to is designed to develop revenue stream and as to who owns what or how much of the equity pie each entity or person gets. Liability can be defended by simple accounting; or can it?


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