The word “forensic” simply means… “of, relating to, or used in courts of law or public debate or argument.” Forensic accounting is the specialty practice area of accounting that describes engagements which result from real or anticipated litigation, and encompasses both litigation support and investigative accounting.
Forensic accounting has many contexts. It could involve reconstructing records accidentally or intentionally destroyed; investigating accounting records including tracing transactions to supporting source documents; requesting known financial documents; coordinating requests for replacement documentation; and analyzing financial results and balances for completeness and reasonableness.
Our forensic accounting skills have been used within many different areas, including civil litigation matters (partner disputes, breach of contracts, tenant disputes), corporate investigations, marriage dissolutions, due diligence engagements and insolvency/bankruptcy matters.
We also provide pro-active forensic accounting services typically to closely-held companies and organizations to evaluate their accounting records and results, with the goal of identifying any potential problems or issues within the transactions. While not able to provide absolute assurance that no fraud exists, these engagements help companies and organizations before a problem materializes by providing an objective outside review by accountants specializing in the field of fraud. The outside review also acts as a deterrent which strengthens the organization’s internal control environment.