Forensic accounting is the combining of accounting, auditing and investigating skills. A forensic accountant provides services in both litigation procedures as well as investigation processes. A forensic accountant must utilize all of his accounting, auditing and investigative skills when conducting an investigation. He must also be equally skilled at communicating his findings in a succinct manner to satisfy the requirements of the court system. Forensic accounting typically offers the following:
- Analyze financial data
- Create systems to break down financial data for ease in review and presentation
- Prepare reports to support his findings
- Support any legal proceedings that may develop from his investigation
Forensic accounting is necessary to a wide variety of investigations, typically over a variety of industries and situations.
- Criminal Investigations
- Shareholder and Partner Disputes
- Personal Injury Claims
- Business Interruption Claims
- Employer and Employee Fraud
- Matrimonial Disputes
- Economic Losses
Although forensic accounting is commonly associated with criminal cases, such as employee theft, insurance fraud, securities fraud and kickbacks, the forensic accountant must also take a proactive approach to his clientele. He must also be able to assist the client in the preparation and implementation of internal controls to aid in the detection of fraud.
Forensic accountants work closely with the following groups:
- Business Owners
- Police forces
- Insurance companies
In order to provide our clients the best possible service at an affordable price, Drotar Financial Consultants offers a comprehensive initial review of the internal control systems of your business venture to determine if there are any deficiencies that may cause an economic problem in the future. Forensic reviews include the following:
- Accounting policies that deter fraudulent acts by employees
- Accounting procedures that detect fraudulent acts by employees
- Review of collection and disbursement procedures
- Review of shareholder or partnership agreements
- Analysis of computer programs for potential problem areas
- Review of physical plant and office design to minimize any potential problems
Please feel free to contact us if you have any concerns regarding a potential protection issue or if you are interested in making sure that all systems are running smoothly. We will be glad to assist you in any way possible.
For a copy of Blase’s resume, click here.