Red Flags in Due Diligence: Financial statement fraud and the importance of due diligence in business acquisitions

Michael J. Molder
P. Dermot O’Neill
Gregory J. Urbanchuk
Michael J. Molder | AILA Limited
P. Dermot O’Neill | O’Neill Forensics
Gregory J. Urbanchuk | Countermark Group

On-Demand: June 7, 2023

Red Flags in Due Diligence: Financial statement fraud and the importance of due diligence in business acquisitions

$195.00 2 hour CLE

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Program Summary

Fraud professionals estimate that businesses organizations lose 5-6% of annual revenue to fraud, and the largest losses typically come from financial statement manipulation. Identifying the indicia of manipulation can help you and your client steer clear of problem acquisitions.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

  • Background of fraud
  • Common fraud schemes
  • Red flags of fraudulent financial data
  • Due diligence opportunities to identify fraudulent financial data

Date: June 7, 2023

Closed-captioning available


Michael J. Molder_AILA Limited_FedBarMichael J. Molder | AILA Limited

Michael J. Molder, JD, CPA, CVA/MAFF, CFE is the owner of AILA Limited, providing financial forensic and business valuation services primarily in litigation engagements. Mr. Molder applies over 35 years as a financial professional and commercial litigator to analyze financial misconduct claims, value business interests and investigate fraud.

As lead counsel in Neuberger and Scott v. Shapiro, et al, E.D.Pa. 97-CV-7947, Mr. Molder won the respect of the court and opposing counsel for his deep understanding of the accounting and reporting issues at play in that federal securities fraud case. Over the course of his legal career, Mr. Molder helped co-counsel understand complex financial and accounting issues in dozens of cases.

Since 2006, Mr. Molder has applied his analytical and investigative skills in valuation and financial forensics engagements. Since then, he has worked on a wide variety of matters ranging from shareholder disputes and partnership breakups to matrimonial and personal injury cases to damages calculations in commercial litigation and fraud investigations. Mr. Molder has testified on business valuation, commercial damages and fraud.

Mr. Molder earned his bachelor’s degree in accounting from the Pennsylvania State University and his Juris Doctor from the Temple University School of Law. He holds Certified Valuation Analyst® and Master Analyst in Financial Forensics® credentials from the National Association of Certified Valuators & Analysts® and the Certified Fraud Examiner® credential from the Association of Certified Fraud Examiners®.

Contact Mr. Molder at [email protected] or 610-206-3169.


P. Dermot O’Neill_O’Neill Forensics_FedBarP. Dermot O’Neill | O’Neill Forensics

P. Dermot O’Neill is a CPA, ABV, CVA, MAFF, ABAR with over 40 years of public accounting experience. Dermot’s practice concentrates on the areas of forensic accounting, litigation support, business valuation, transaction consulting, income taxation, and financial analysis. He has provided consulting and expert witness assistance in cases involving oppressed shareholders, personal injury, wrongful death, accounting malpractice, franchisor/franchisee issues, and contract and tort issues. He has testified as an expert in Pennsylvania, New Jersey, Delaware, Florida, New York, Connecticut, Virginia, Arizona, Colorado, Illinois, the Chancery Court of Delaware as well as the Federal Bankruptcy Court and Federal District Court.

Dermot is an adjunct instructor at Rider University College of Business Administration, Graduate Studies. He has been an adjunct lecturer at Villanova University as well as a guest lecturer at Widener University, Drexel University, and Lehigh University Graduate Schools of Business. He has presented numerous continuing professional education seminars sponsored by various state accounting institutes and societies, NACVA, AICPA, bar associations, and universities. He received his B.S. in Economics from Villanova University and is the 2015 Recipient of the Thomas R. Porter Lifetime Achievement Award.

He has been an Editorial Advisory Board member and Managing Editor of the National Litigation Consultants’ Review. He continues to review books and articles for authors on a pro bono basis.


Gregory J. Urbanchuk_Countermark Group_ FedBarGregory J. Urbanchuk | Countermark Group

Greg is the founder and managing director of Countermark Group. He has over twenty years of experience providing forensic, dispute, and valuation consulting services in the United States, the United Kingdom, and Europe. Previously, Greg worked for boutique, regional, and national consulting firms, including Deloitte LLP in London.

Greg serves as an expert witness in complex commercial litigation in the areas of intellectual property, commercial damages, and valuation. He has evaluated damages and testified in cases claiming patent, trademark, and copyright infringement, the misappropriation of trade secrets, and breach of contract. Greg has significant experience analyzing economic damages and restitution using the lost profits, reasonable royalty, disgorgement, and diminution of value methodologies. He has also testified on the value of intellectual property and businesses in shareholder, acquisition, and bankruptcy disputes. Greg has qualified and testified as an expert witness in federal and state courts in the United States.

Outside of litigation, Greg values public and privately held businesses and intellectual property in connection with mergers and acquisitions, financial reporting, taxation, and estate planning. He has significant expertise with the valuation of intellectual property, including patents, trademarks, copyrights, trade secrets, brands, license agreements, software, and customer and vendor relationships, among others. Greg has provided valuation services in numerous industries such as life sciences, healthcare, technology, consumer, manufacturing, and financial services.

His writing has appeared in numerous publications such as the Oxford Journal of Intellectual Property Law and Practice, les Nouvelles, the International Company and Commercial Law Review, the Computer & Internet Lawyer, and Intellectual Property Litigation, among others.


I. Background of fraud | 12:00pm – 12:30pm

II. Common fraud schemes | 12:30pm – 1:00pm

Break | 1:00pm – 1:10pm

III. Red flags of fraudulent financial data | 1:10pm – 1:40pm

IV. Due diligence opportunities to identify fraudulent financial data | 1:40pm – 2:10pm