Forensic Accounting & Fraud Investigation

Forensic Accounting & Fraud Investigation

Forensic Accounting is the use of accounting skills to investigate fraud or embezzlement and to analyze financial information for use in a legal proceeding.

Forensic accountants serve in a number of roles, the most common are as an Expert Witness or an Expert Consultant. An Expert Witness is formally designated by either party of a dispute to render an opinion before the court, to assist the judge in understanding the evidence, or to determine a fact at issue. As a result, an Expert Witness’s litigation-related work may be required to be produced to the opposing party through a process called discovery.

Conversely, an Expert Consultant is not formally designated by either party, but is retained by either party to advise about facts, issues, strategies, or other matters relevant to litigation. Generally, the Expert Consultant’s work is protected from discovery by the attorney work product doctrine, an extension of the attorney client privilege.

Litigation is costly and the outcome is uncertain. If your litigation team is strong, the likelihood you will be satisfied with the outcome will be greater. As a part of your litigation team, a forensic accountant has three primary functions:

1. Gather – To assist clients and/or counsel in gathering and organizing relevant and reliable financial documents.
2. Analyze – To analyze the financial information gathered for the purpose of rendering an opinion or providing consulting.
3. Report – To communicate his or findings to the client, their counsel, or to the court.

We focus these skills in the following 8 areas:
  1. Family Law
    • Document discovery
    • Determining Income for Support
    • Identifying Hidden Assets
    • Tracing Separate Assets/Source of Funds Rule
    • Life Style Analysis/Financial Standard of Living
    • Equitable Distribution Scenarios
    • Liquidity/Negative Cash Flow analysis
    • Tax Consequences of Equitable Distribution, Proposed Settlements, and Support Scenarios
  2. Fraud Prevention
    • Fraud Risk Assessments
    • Enhancement of Internal Controls
    • Monitoring and Enhancing Existing Compliance Programs
  3. Fraud Detection
    • Asset Misappropriation
    • Financial Statement Misrepresentation
    • Corruption and Other Illegal Acts
  1. Litigation Support
    • Civil Litigation
    • Criminal Defense
  2. Economic Damage Calculations
    • Fraud and Embezzlement
    • Breach of Contract
    • Tort Claims
    • Business Interruption
    • Employment Disputes
  3. Insurance Investigations
    • Assist Special Investigation Unit (SUI) with Complex Financial Issues
    • Assist with Financial Aspects of Examination Under Oath (EUO)
    • Storm Recovery
  4. Insurance Claims
  5. Special Accountings, Tracing, and Reconstructions

For more information on how Adam Shay CPA, PLLC can help you, contact us or call us at 910-256-3456.