| Corporate recovery and restructuring firms often | | | | once a fraud has been identified and meticulously |
| have a need to consult with a forensic accountant. | | | | go over the company's accounting and identify |
| The financial difficulties of a company have | | | | where problems exist. Both the corporate |
| become a way of life for many in corporate | | | | recovery and restructuring firm and the forensic |
| business and financial disasters are a common | | | | accountant must look at the big picture and know |
| occurrence. Often times, a corporate recovery | | | | every aspect of the way the company is run, |
| and restructuring firm with the assistant of a | | | | investigating and deciphering all financial evidence |
| forensic accountant can find ways to work | | | | and producing reports of the findings as well as |
| through financial crisis and find ways to recover or | | | | supporting evidence and documents in case one |
| restructure a company's assets. | | | | or both are called to testify in a court of law. |
| Working for corporate recovery and restructuring | | | | The mission of a forensic accountant and |
| firms, forensic accountants help to determine | | | | restructuring firms is to offer investigative and |
| what operational issues have played a role in a | | | | litigation, reviewing situations and offering possible |
| company's financial demise and also try to assist | | | | solutions as well as protecting and recovery lost |
| in finding viable resolutions to put the company | | | | assets. With the help of a forensic accountant, a |
| back in business with financial stability. | | | | corporate recovery and restructuring firm will |
| With the global business market the way it is | | | | discover and provide documentation in favor or |
| today, corporate recovery and restructuring firms | | | | against a claim. They must present an initial |
| and forensic accountants have never been busier, | | | | evaluation of a situation, which identifies what is |
| dealing with scandals, frauds, bankruptcies, | | | | lost and assist in the examination for discovery. |
| security issues and other conflicts that require | | | | They are responsible for reviewing all testimonies, |
| intense investigations to analyze what forces | | | | and scrutinizing the oppositions reports. Finally, with |
| stopped the company's financial wheels from | | | | the help of a forensic accountant, the |
| turning, and finding out how the company's | | | | restructuring firm will offer settlement |
| money flow got so misdirected. A corporate | | | | negotiations and options for discussion. |
| recovery and restructuring firm will use a forensic | | | | It is also the job of a corporate recovery and |
| accountant because any findings can and, if | | | | restructuring firm working with a forensic |
| necessary, will be used in a court of law. | | | | accountant to help enforce controls to prevent |
| Forensic accountants are used to investigate | | | | fraud and other criminal activities before they |
| disputes and litigations, Wall Street scandals, | | | | happen by finding and assuring that controls are in |
| insurance allegations, audits on construction and | | | | place to prevent fraud and to discover issues |
| royal claims and personal injury claims to name a | | | | before they turn into criminal litigations. There has |
| few. Today's criminal fraud claims have become | | | | been a renewed emphasis on prevention and |
| more complicated to resolve with kickbacks and | | | | enforcing stricter penalties for those caught in a |
| billions of dollars in missing money. Technology has | | | | financial criminal charge. The area of corporate |
| allowed criminals to electronically wire money all | | | | recovery and forensic accounting is becoming |
| over the world, making it very difficult to track | | | | more sophisticated and more international in order |
| where exactly the fraud began or ended. | | | | to respond to the critical state of this financial |
| Most prestigious restructuring firms have forensic | | | | world. |
| accounting specialists on staff who will take over | | | | |