| Forensic accounting uses state-of-the-art scientific | | | | The forensic accountant helps during divorce |
| methods to solve legal accounting problems. The | | | | cases by resolving issues on the division of assets. |
| forensic accountant is a highly trained professional | | | | In many cases the division of property is |
| with knowledge pertaining specifically to matters | | | | complex. |
| related to property crimes. | | | | There may be issues of pre-nuptial agreements, |
| A forensic accountant can help with problems | | | | alimony and child support disputes, and hidden |
| related to fraud; with civil disputes, and in marital | | | | assets. The forensic accountant is especially |
| or family law cases. | | | | important when one or both spouses are |
| How forensic accounting can help companies | | | | self-employed. In such cases, an auditor is often |
| If a company suspects fraud and misuse of | | | | necessary to trace all possible assets of the |
| funds, a forensic accountant can investigate the | | | | parties involved. Whenever there is a dispute over |
| problem. Their presence and activity can also help | | | | income, assets, business valuation, or other |
| in preventing and deterring such crimes and | | | | property valuations, a forensic accountant can |
| mismanagement. | | | | help in finding a solution. |
| The forensic accountant will analyze the business | | | | In probate cases, forensic accountants can again |
| structure of the company and search records for | | | | help in disputes arising over valuation and property |
| possible fraud and misconduct. They will trace all | | | | division among an estate’s heirs. If the |
| assets looking for irregularities and other clues. | | | | deceased owned one or more businesses, for |
| Companies benefit from use of a forensic auditor | | | | example, assigning a value to these businesses |
| because of their special training and experience in | | | | can be difficult without a legal expert. |
| rooting out possible criminal actions. Their | | | | Advantages of forensic accountants |
| efficiency in these matters saves companies time, | | | | As professionals, the forensic accountant is |
| energy and money. The forensic accountant also | | | | considered an expert in cases of legal property |
| has expertise in planning and implementing | | | | disputes. They bring to bear all the latest |
| strategies to prevent fraud or misuse of funds in | | | | knowledge in accountancy and auditing standards, |
| the future. | | | | business and financial reporting systems, and |
| Civil disputes and forensic accounting | | | | evidence gathering, interviewing and discovery |
| Forensic accountants help resolve accounting | | | | methods. They are trained at testifying in court |
| problems in civil disputes including: | | | | and are familiar with legal procedures and |
| • Tort or contract related damages and losses | | | | requirements. |
| • Breach of contract | | | | Forensic accounting is necessary whenever there |
| • Compensation and business interruption | | | | is some accountancy problem that must be |
| claims | | | | resolved legally, but is either too difficult or too |
| • Personal injury claims | | | | costly to be handled without professional help. |
| • Company acquisition claims | | | | Without proper knowledge of the law, and |
| • Warranty claims | | | | forensic accounting techniques, failure in these |
| • Business and share valuation | | | | cases is a distinct possibility. Courts are very strict |
| • Professional negligence claims | | | | in procedural matters and only accept high |
| Auditors work both in calculating and solving | | | | standards for evidence – areas best suited |
| accountancy problems and testifying in court. | | | | for experienced professionals. |
| Marital and family disputes | | | | |