Forensic Accounting and Fraud Detection

Forensic Accountants combine their accounting knowledge with investigative skills, using this unique combination in litigation support and investigative accounting settings. Forensic Accountants may be employed by public accounting firms’ forensic accounting divisions, by firms specializing in risk consulting and forensic accounting services, or by lawyers, law enforcement agencies, insurance companies, government organizations, or financial institutions. Due to society’s heightened awareness and growing intolerance of fraudulent activity, demand for forensic accountants is rapidly increasing.

Engagement Area Examples

  • Money laundering
  • Insurance claims
  • Employee fraud investigations
  • GAAP violations
  • GAAS violations
  • Telemarketing fraud
  • Check kiting
  • Contract and procurement fraud
  • Asset misappropriation
  • Securities fraud
  • Financial statement fraud
  • Bankruptcy fraud
  • Credit card fraud
  • Embezzlement

Types of services performed

  • Financial data analysis
  • Evidence integrity analysis
  • Computer application design
  • Writing reports
  • Compiling information
  • Testifying as an expert witness
  • Eliciting other experts’ assistance
  • Maintaining documentation
  • Damage assessment
  • Tracing illicit funds
  • Locating hidden assets
  • Due diligence reviews
  • Forensic intelligence gathering
  • Business valuation

Useful skills, characteristics and subject areas of knowledge

  • Accounting procedures
  • Legal system and its procedures
  • Present value and discount rates
  • Regression analysis
  • Computer applications
  • Interpersonal communication
  • Oral communication
  • Written communication
  • Summarize results
  • Research skills
  • Detail-oriented
  • Analytical
  • Professional skepticism
  • Professional judgment
  • Professional competence
  • Integrity
  • Objective
  • Independent
  • Credible

Education and Training

  • Bachelor’s and/or Master’s degree in Accounting
  • Additional education in Criminal Justice and Law Enforcement
  • Certified Public Accountant designation
  • Certified Fraud Examiner credential

To Setup Your LLP Get In Touch Today