Forensic accounting

This specialty in finance field has as objective providing evidence and analysis of financial statements and claims in trial processes. It is expanding his competences providing support for big firms and medium sized companies in financial reporting, accounting and auditing.

Forensic accountant’s skills include accounting, auditing and investigating. The goal of forensic accounting work is not to provide opinions on court process; the mission of professionals in this field is presenting financial information in a way that reflects events occurred in real world. For this purpose forensic accountants follow the following process:

  • Data gathering
  • Data preparation
  • Data analysis
  • Reporting

When performing his work, a forensic accountant deals with a wide variety of cases. He can perform external and internal audits, forensic audits and forensic investigation. He can also specialize in insurance, personal injury, financial fraud, money laundering, construction or copyright, patents and royalty lawsuits. Tasks required to perform his work could include dealing with database and document management, computer analysis, legal regulations and research processes.

Forensic accounting services in addition to financial reporting include expert witness work. This service is performed by investigating the actions that leaded to the current case in dispute and providing with evidence of facts claimed.

There are different regulations that apply to professionals in forensic accounting business; in some countries like United States it is required a certified public accountant or CPA title for auditing financial statements and providing public attestation.

Most forensic accounting firms provide support for:

  • Insurance Litigation
  • Matrimonial disputes
  • Professional negligence claims
  • Tax Investigation
  • Commercial Disputes
  • Shareholder and partnership disputes
  • Personal injury claims
  • Contractual Disputes
  • Business interruption claims
  • Compulsory Purchase Orders
  • Fraud investigations
  • Criminal investigations
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