Forensic Accounting – With the growing complexity of the business environment and the growing number of business related investigations, Forensic Accounting professionals are increasingly asked to assist in the investigation of financial and business related issues. A Forensic Accountant is often involved in the following:
- Investigating and analyzing financial evidence;
- Communicating their findings in the form of reports, exhibits and collections of documents; and
- Assisting in legal proceedings, including testifying in court as an expert witness and preparing visual aids to support trial evidence.
In order to properly perform these services a Forensic Accountant must be familiar with legal concepts and procedures. In addition, a Forensic Accountant must be able to identify substance over form when dealing with an issue.
A Forensic Accountant should be retained as early as possible in order to obtain maximum benefit. The assistance that a Forensic Accountant can provide early in the process can be significant in reducing the overall cost and maximizing the benefit. If retained early, a Forensic Accountant can assist with the Examination for Discovery, identify additional areas of damages, assist with settlement negotiations and provide a preliminary assessment of the quantum of damages;