a brief about forensic accounting
TRANSCRIPT
In other words, forensic accountants are trained professionals
who can look beyond the reality of business and assist the court
in legal issues ….
Areas of Forensic
involvement
Post acquisition Disputes
Bankruptcy
Securities Fraud
Tax Fraud
Business Valuation
Economic Damages
But the whole area falls into 2 categories
Litigation Support
Investigative accounting
Litigation Support :
This procedure calculates the loss or damages occurred from any
breach of contract means only economic issues …
Areas of litigation support …..
Contract
Disputes
Insolvency
Litigation
Insurance
Claims
To Be continued
Areas of litigation support …..
Shareholders Disputes
Royalty Audits
Intellectual Property Claim
Investigative Accounting :
It deals with fraud risk management and control that elicits
the investigation of criminal nature in accounts….
Areas of Investigative Accounting
Employee Fraud
Securities fraud
Insurance Fraud
Advance fee fraud
What Exactly A Forensic Accountant Do ?????
Financial evidence
investigation and analysis
Review the factual situation and provide alternative plans for right
evidence selection
Development and analysis of computerized financial evidence
The recovery, preservation and protection can be done with the help of developed computers
Presentation of financial evidence
The in-time presentation of evidence can be done with the
help of an expert, private investigator, expert document
examiner and industry specialists etc..
The timely document collection can be helpful for
supporting or securing the rebut or claim …
Assistance in legal Proceedings …
By reviewing the documents and its relevancy, a forensic
accountant can assist in the proceedings to identify the
potential areas of loss and recovery …
Forensic accountants also helpful in the preparation of
relevant questions that connects the financial evidence …
They also review the opposition report and analyze it for
it’s strength and weaknesses
Assist the councils for settlement meetings and
negotiations..
Attend the trial to assist the cross-examination process…
Common Accounting Fraud Areas…
