A California security company owner has come under scrutiny for underreporting his payroll expenses in an attempt to lower workers compensation costs. Accused of cheating his insurer of $3.2 million, a San Jose business owner will face workers compensation insurance fraud charges.
Who is responsible when a commercial business floods?
For Sheila Harris-Young and her daughter, Toni Young, opening Bumzy’s Chocolate Chip Cookies was a dream come true. According to the San Francisco Examiner, the pair opened the shop in the Fillmore neighborhood of San Francisco in 2010.
Taking steps in the aftermath of accounting malpractice
California business owners often turn to an accountant to help manage their finances. Hiring such a professional can reduce the odds of paying too much in tax or being accused of breaking the law. However, it is possible that an accountant will engage in malpractice that could leave a company vulnerable to criminal or civil penalties. To prevent this from happening, accountants should follow either Generally Accepted Auditing Standards or Generally Accepted Accounting Principles.
