The integration of accounting, auditing and investigative skills yields the specialty known as Forensic Accounting. Accountants in this specialised field are used to investigate many different situations in the work force. Some of the most common ones are fraud, money laundering, bankruptcy, and economic losses. Forensic Accountants are either employed by a company to aid their internal audits or used to investigate certain cases where illegal activity is suspected. Often, if something illegal is found then the Forensic Accountant will provide the discovered evidence during the trial.
The analytic side of Forensic Accounting has recently become of increasing importance. In many cases where Forensic Accounting is employed the accountant must collect the necessary data and perform a data analysis of what they find. This technique can either be used to detect or prove illegal activity. For example, if a company is looking at employee expense reports, the Forensic Accountant is able to look at the data collected to assess whether any expenses are not subject to reimbursement.
An important point to note about Forensic Accountants is that they are unbiased. The report Forensic Accountants file comprise of the facts of the situation. These facts are most often reported in very simple ways because if the case is brought to trial then the jury has to be able to understand what has happened and the numerical damage incurred. When Forensic Accountants are employed to get ahead of potential illegal activity, they simultaneously implement controls in order to limit risk incurred by the company.
At LehmanBrown our Forensic Accountants take the complex transactions and data and represent them in a report that is easy to understand in order to make a possible litigation process smoother.
In Forensic Accounting it is important to look beyond just what the numbers say. Our professionals at LehmanBrown are trained to look at a situation and analyze the business in order to understand the reality of the situation. This carries over into the courtroom when we are able communicate not only the important financial information, but also an elaborate explanation of the business model.
We at LehmanBrown maintain high standards and pride ourselves on our ability to respond immediately and to communicate financial information clearly and concisely in a courtroom setting. A Forensic Audit where something illegal is found is not considered complete until our professionals are able to successfully represent the evidence in the courtroom.
To make an enquiry about Forensic Accounting, please contact us at email@example.com.