Divorce is considered to be one of the most stressful events that people may encounter in their lifetime, even more so if there is significant hostility between the spouses. As a result of the adversarial nature of divorce, the parties involved might behave irrationally or even vindictively, especially when it comes to their finances. There is the possibility that one or both spouses may not be entirely forthcoming or truthful about their financial situation during litigation. During divorce settlements, common areas of concern are undisclosed assets or the understatement of income, but another potential fraud area that should be considered is the dissipation of marital assets.
You’ve just joined the board of directors of a private school. Or perhaps you’ve been on your school’s board for some time, but want to learn more about your role in the financial oversight of the school.
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