Forensic accounting refers to combination of combination with forensic investigation and auditing for the purpose of uncovering information that is ultimately used for discussion, debate and dispute resolution especially in court. Forensic accounting specialists make use of their investigative and forensic abilities coupled with accounting experience. The following text will uncover some interesting details regarding forensic accountancy London.
Forensic Accounting is also referred to as:-
- Forensic Investigation.
- Uncovering evidence with the intent of presenting in court.
- Forensic Audit.
- Such examining sales records.
- Internal Audit.
- Performed by an employee on operational evidence.
- External Audit.
- Performed by an auditor engaged in public practice.
The Role of a Forensic Accountant:-
A forensic accountant is engaged in analysing, interpreting, summarising and presenting complex financial and business related issues in a manner which is both understandable and properly supported. Forensic Accountancy London includes:-
- Investigation and analysis of financial evidence.
- Development of computerised tools to aide in the financial investigation.
- Compiling reports and other documents to assist in legal proceedings.
Besides the forensic and financial experience, a forensic accountant must be able to identify various legal concepts and procedures with reference to the information retrieved.
What are forensic accountants involved in?
- Criminal Investigations.
- Shareholder/Partnership Disputes.
- Personal Injury Claims.
- Business and Other types of insurance claims.
- Business fraud investigations.
- Marriage disputes over assets.
- Economic losses.