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?
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:
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 owners. The compensation and benefits given to each of the owners is one of the more common issues in these cases.
Personal injury. When economic losses from a personal injury 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 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 the funds.
Matrimonial disputes. Usually, when a dispute of this nature arises, forensic accountants must locate and evaluate the disputed assets, be they businesses, property, or fiduciary.
Business economic losses. These kinds of engagements include contract disputes, construction claims, expropriations, product liability claims, trademark and patent infringements, and losses stemming from an alleged breach of a non-compete agreement.
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