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Forensic Accounting

  

What is Forensic Accounting?

  

Forensic accounting is a specialized practice area of accounting that employs procedures in an attempt to uncover financial irregularities that indicate the presence of willful misleading activities, internal and/or external theft, and various types of fraud within any sort of business. This type of service generally involves the application of specialized knowledge and investigative skills possessed by CPAs to collect, analyze, and evaluate evidential matter and to interpret and communicate findings in the courtroom, boardroom, or other legal or administrative venue.

More simply, in the context of litigation, the term forensic means to be suitable for use in a court of law.

Today’s marketplace requires the forensic accountant to possess a different skill set from the traditional accountant. The services of a forensic accountant are required for a range of investigations across many different industries. Forensic accountants are employed to seek, interpret, and communicate transactional and reporting event evidence in an objective, legally sustainable fashion, not only in situations in which there are specific allegations of wrongdoing, but also in situations in which interested parties judge that the risk of loss from wrongdoing is such that proper prudence requires legally sustainable evidence to support the conclusion that no wrongdoing is occurring.

When is Forensic Accounting Appropriate?

  

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.

Investigation of an entity for possible acquisition and the need to ensure the absence of financial irregularities.

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 the funds.

Matrimonial Disputes. Usually, when a dispute of this nature arises, forensic accountants must locate and evaluate the disputed businesses, property, or fiduciary assets.

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. 

                 

Fraud Prevention and Detection. Fraud is a fact of life.  It is all around us, like the common cold.  There is no "cure", but there are steps that can be taken. (read more on fraud)

Forensic Accounting Services

  

Disputes can range from business-related litigation to marital dissolution and those situations can require litigation support and/or investigative accounting. Financial and personal records are often vast and confusing to sort through. With our professional training in these matters, we can make sense of these records and transactions.

Litigation support

This is area covers accounting assistance for current or pending litigation.

For a litigation engagements, we can...

  • assist in obtaining the necessary documentation to support or refute a claim;

  • examine the relevant documentation to form an assessment of the case;

  • review the damages report by the opposing expert;

  • assist with settlement discussions and negotiations; and

  • attend trial to hear the testimony of the opposing expert and provide assistance with cross-examination. 

    ​

Investigative Accounting

Occasionally, you may need to explore whether fraud or misconduct has occurred, such as employee theft of property or inventory, misappropriation of funds by employees, kickbacks to employees from outside businesses, securities fraud, and insurance fraud.

With our investigative accounting services, we bring to bear our accounting knowledge and experience in the field to give you a clear understanding of the situation.

When you retain our expertise, we skillfully...

   ​

  • review the situation and offer suggestions for possible courses of action;

  • assist with the protection and recovery of assets;

  • coordinate with other experts, including private investigators, forensic document examiners, and consulting engineers; and

  • assist with any necessary civil action or criminal prosecution.

    

Fraud

              

 Our primary goal as a trusted advisor is to be available and to provide insightful advice to enable our clients to make informed financial decisions.

Continually striving for accuracy, excellence and the highest level of integrity.

Strive Tax & Accounting, LLC

CPA's specializing in small business tax and accounting with emphasis in construction and manufacturing for corporation and passthrough entities.

PO Box 28353

Green Bay, WI 54324

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bookkeeping

bookkeeping

sales tax

small business accounting

IRS

cpa firm

payroll

Forensic Accounting

Accounting

tax preparation

payroll

quickbooks

IRS

small business accounting

small business

bookkeeping

irs notice

corporate tax

quickbooks

quickbooks training

payroll tax

quickbooks setup

tax planning

Green Bay

small business

cpa firm

irs notice

tax planning

IRS

bookkeeping

tax preparation

payroll tax

IRS

Accounting

Forensic Accounting