Forensic
Accounting and Forensic Investigative Accounting Services
What is forensic accounting?
Forensic accounting
is the practice of using accounting, auditing, and investigative
accounting skills to assist in legal proceedings. Forensic accounting
focuses on 3 main areas: litigation support, investigation, and
dispute resolution.
Legal litigation support
represents the descriptive presentation of financial issues related
to existing or pending legal proceeding. The forensic accounting
professional determines damages sustained by parties involved
in legal disputes and can assist in resolving disputes, even before
they reach the courtroom. If a dispute reaches the courtroom,
the forensic accountant may testify as an expert witness.
Forensic accounting
investigation is the process of deciding whether criminal matters
such as internal employee theft, securities fraud (including falsification
of financial statements), identity theft, and insurance fraud
have occurred. As part of the forensic accountant's work, they
may recommend actions that can be taken to minimize future risk
of loss. Forensic accounting investigation may also occur in civil
matters. For example, the forensic accountant may search for hidden
assets in divorce cases.
Forensic accounting
involves looking beyond the numbers and grasping the substance
of situations. It's more than accounting...more than detective
work...it's a combination. In short, forensic accounting requires
the most important quality a person can possess: the ability to
think.
I began my accounting
career with Price Waterhouse Coopers as a forensic accountant
reviewing and investigating financial statements of some of the
world’s largest corporations. As a forensic accountant, I have
over 27 years of experience, and I know that my expertise can
definitely assist you with your investigative research in your
personal or corporate accounting needs.
Call
us today at 713-661-1040 and let me put our forensic accounting
experience to work for you. Don’t open yourself up for unnecessary
liabilities and reduce internal asset theft, give us a call today!
Who uses forensic
accountants?
Forensic accounting financial investigative specialists work
with accounting data for use in defining complicated issues of
financial statements, financial liabilities, and establishing
value of assets.
Many forensic accountants
and forensic accounting specialists work in private industry such
as banks and insurance companies, or governmental agencies such
as sheriff and police departments, the Federal Bureau of Investigation
(FBI), and the Internal Revenue Service (IRS).
Forensic
accountant usually look for the following:
| - Internal employee
theft of assets |
| - Embezzlement
of company funds or assets |
| - Identity theft |
| - Employee conversion
of corporate assets for personal use |
| - Unauthorized
commission programs or kickback scheme for employees
from vendors/clients |
The forensic accountant
pairs their strong observation skills of the suspected employees
and physical examination of assets, document research, and personal
interviews of those involved. Experience in these areas enable
the forensic accountant to offer alternatives to internal processes
for companies to make to reduce the opportunity of theft and fraud.
Forensic accountants
can be hired by attorneys to investigate the financial paper trail
of those suspected of engaging in criminal activity. Well documented
research by a forensic accountant many times is the most air tight
method of obtaining convictions. The forensic accountant may also
be hired by a bankruptcy court when financial data is questionable,
or if employees are suspected of stealing corporate assets.
Forensic accounting
specialists are also found in private companies. CEOs must now
assure that financial data represents accurately the financial
position and the effectiveness of the operation of their companies.
Forensic accountants may also be asked to calculate the amount
of the loss sustained by victims, serve in court as an expert
witness, and prepare and present visual aids and written evaluations
for use in court.
As a qualified forensic
accountant specialist, I have served in all capacities of forensic
accounting. I have been hired as an expert witness due to my extensive
experience in providing accurate and detailed research on financial
statements, valuation of assets, and calculating damages.
Call us
today at 713-661-1040 and let me put our forensic accounting experience
to work for you. Don’t open yourself up for unnecessary liabilities
and reduce internal asset theft, give us a call today!
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