WHO NEEDS FORENSIC ACCOUNTING?
Do you worry that you or your business might be the victim of fraud?
Do you need to analyze your financial data to uncover potential misconduct?
Are you investigating an entity for possible acquisition and need to ensure the absence of financial irregularities? Maybe you’re involved in litigation and require an expert witness to testify on your behalf?
If any of these situations apply, you need our Forensic Accounting services. Forensic Accounting is an area of accounting that investigates actual or anticipated disputes. Disputes can range from business-related litigation to marital dissolution. We handle both litigation support and investigative accounting, learn more about both:
- Litigation Support
- Investigative Accounting
FORENSIC INVESTIGATIONS TAKE A VARIETY OF FORMS
The services of a forensic accountant are required for a range of investigations across many different industries. Here are the most common assignments in forensic accounting:
Disputes Among Shareholders or Partners. The compensation and benefits given to each of the shareholders or partners is one of the more common issues in these cases.
Personal Injury Claims / Motor Vehicle Accidents. When economic losses from a personal injury or vehicular accident are in question, a forensic accountant is brought in.
Insurance Claims. Because insurance policies vary greatly in their terms and conditions, such engagements require a thorough policy review to determine the appropriate method of figuring the loss. A forensic accountant can assist from either the insured or the insurer’s standpoint.
Business/Employee Fraud Investigations.The investigation of employee fraud often requires a determination of the extent of the fraud. It may or may not include the identification of a perpetrator. Many times, such assignments necessitate interviews of staff who had access to each and other assets.
- Matrimonial Disputes. Usually, when a dispute of this nature arises, forensic accountants may be asked to locate and evaluate the disputed assets, be they businesses, property, or fiduciary in nature.
- Business Economic Losses. These kinds of engagements include contract disputes, construction claims, expropriations, product liability claims, trademark and patent infringements, and from losses stemming from an alleged breach of a non-compete agreement.