Got Fraud? Call a Forensic Accountant

Fraud perpetrated by employees, management, vendors or customers can happen to any business. And if it does, it can take years to recover from the financial losses and reputational damage. In some cases — especially those involving small companies that lack the cash reserves to cushion the blow — a fraud incident can shut down a business. If your business suspects fraud, engaging a forensic accountant to investigate, zero in on a perpetrator and gather evidence that can be used in court, is generally money well spent. In fact, the faster fraud is found, the less your company is likely to lose. The Association of Certified Fraud Examiners reports that fraud schemes have a median velocity (or rate at which financial losses pile up) of $8,300...

How to Work with a Forensic Accountant

Forensic accountants are professionals who have received specialized training to uncover fraud and protect against fraud threats. They’re uniquely qualified to review financial statements and business records and to interview employees to find evidence of misrepresentations and theft. In many cases, they’re able to help recover missing funds. So if you suspect fraud and possibly want to take a perpetrator to court, a forensic accountant can be critical. Essential expertise Forensic accountants specialize in conducting fraud audits and investigations to detect irregularities and troubling trends, looking for both telltale and subtle signs of occupational crime. Certified fraud examiners (CFEs) are specially trained in fraud discovery, recognition, documentation and prevention. Forensic accountants are also generally knowledgeable about human behavioral factors and motivations that contribute to the commission of fraud,...

The Forensic Accountants Role in Litigation

When people hear the term “forensic science,” they usually think “CSI.” What comes to mind when you hear the term “forensic accounting”? Similar to forensic scientists offering opinions about scientific matters, forensic accountants may be called on to investigate and serve as financial experts in commercial litigation. Here’s how. Who forensic accountants are Forensic accountants specialize in conducting fraud audits and investigations to detect irregularities and troubling trends, looking for both telltale and subtle signs of white collar crime. Certified fraud examiners (CFEs) are specially trained in fraud discovery, recognition, documentation and prevention. They’re also generally knowledgeable about human behavioral factors and motivations that contribute to the commission of fraud, such as the ability to rationalize fraudulent conduct. Often, forensic accountants are retained to detect misrepresentations of financial...