Forensic Accounting Demystified
Forensic accountants combine the skills and services of an accountant
and auditor, an investigator and a forensic analyst. In an increasingly
complex and litigious business and personal world their services
are frequently called upon to provide expert testimony in court
and to prepare cases and resolve disputes across a range of areas
from personal injury claims to matrimonial disputes and fraud investigations.
What type of assignment
does a Forensic Accountant undertake?
- Personal Injury - Loss of Earnings
- Business Interruptions & Economic Losses
- Matrimonial Settlements & Disputes
- Government Enquiries
- Business & Employee Fraud Investigations
- Professional Negligence
- Mediation & Arbitration
What does the work involve?
- Detailed investigation and analysis of books, records, financial
statements and financial evidence for loss of earnings claims,
disruption of business, alleged fraud etc.
- Drawing up schedules of assets and income for matrimonial
and other cases.
- Comprehensive help with all court work from the preparation
of detailed reports for all sides in a dispute. Testifying as
an expert witness and attending consultations and settlement
meetings with other professional witnesses and legal advisors.
- Recreating books and records which have been destroyed in
a fire or flood and determining the profit or loss of a business
where the records have been destroyed or are unavailable.
- Computation of loss from a commercial breach of contract including
the supply of faulty equipment or faulty raw materials/products
and delays oin completing contracts.
Who needs a Forensic Accoutant?
- Insurance Companies
- Plaintiffs and Defendants
- Financial institutions
- Government agencies
- Semi state organisations
- Security forces
- Private investigators
- Private firms
Grant Sugrue is a member of the Association
of Certified Fraud Examiners
