Forensic Accounting
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Accountancy
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Accountant · Bookkeeping · Trial balance · General ledger · Debits and credits · Cost of goods sold · Double-entry system · Standard practices · Cash and accrual basis · GAAP / IFRS
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Auguste Ambroise Tardieu Edmond Locard William M. Bass
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Forensic accounting is the specialty practice area of accountancy of accountancy that describes engagements that result from actual or anticipated disputes or litigation. litigation. "Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert ex pert evidence at the eventual trial.[1] All of the larger
accounting departments. firms, as wellWithin as many medium-sized andmay b outique boutique firms, have specialist forensic accounting these groups, there b e further be sub-specializations: some claims, personal injury forensic accountants may, for example, just specialize in in insurance insurance claims, claims, fraud fraud,, construction construction,, or royalty or royalty audits audits..
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1 Categories
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2 Forensic accountants
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3 References
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4 See also
[edit] edit] Categories Engagements relating to civil disputes may fall into several categories: calculating and breach of contract contract;; quantifying losses and economic damages, damages, whether suffered through tort or breach disagreements relating to company acquisitions—perhaps earn outs or breaches of warranties of warranties;; valuation.. Forensic accountants often assist in professional negligence negligence claims where and business and business valuation they are assessing and commenting on the work of other professionals. Forensic Accountants are also engaged in in marital and family law matters for the purpose of analyzing lifestyle for spousal support purposes, determining income available for child support and equitable distribution. Engagements relating to criminal matters typically arise in the aftermath of fraud. They frequently involve the assessment of accounting systems and accounts presentation—in essence assessing if the numbers reflect reality.
[edit] edit] Forensic accountants Main article: Forensic article: Forensic accountant Forensic accountants may be involved in recovering proceeds of crime and in relation to confiscation proceedings concerning actual or assumed proceeds of crime or money or money laundering. laundering. In the United Kingdom Kingdom,, relevant legislation is contained in the Proceeds of Crime Act 2002 2002.. In India there is a separate breed of forensic accountants called Certified Forensic Accounting Professionals. Some forensic accountants are also also Certified Forensic Accounting Professionals Professionals,, Certified Fraud Examiners, Accountants, Chartered Accountants or ACCAs ACCAs.. Examiners, Certified Public Accountants, reporting Forensic accountants utilize an understanding of business business information and financial reporting systems, accounting and auditing standards and procedures, procedures, evidence evidence gathering and investigative techniques, and litigation processes and procedures to perform their work. Forensic accountants are also increasingly playing more proactive risk reduction roles by designing and performing extended procedures as part of the statutory audit, acting as advisers to audit committees, committees, fraud deterrence engagements, and assisting in investment analyst research. "While Forensic Accountants ("FAs") usually do not provide opinions, the work performed and reports issued will often provide answers to the how, where, what, why and who. The FAs have and are continuing to evolve in terms of utilizing technology to assist in engagements to identify anomalies and inconsistencies. It is important to remember that it is not the Forensic Accountants that determine fraud, but instead the court." cou rt." (David Malamed, Forensic Accountant, Toronto Ontario)
[edit] edit] References 1.
^ Crumbley, D. Larry; Larry; Lester E. Heitger, G. Stevenson Smith (2005-08-05). Forensic and Group.. ISBN ISBN 0808013653. 0808013653 . Investigative Accounting . CCH Group
[edit] edit] See also •
Journal of Forensic Accounting
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Benford's Law
Retrieved from "http://en.wikipedia.org/wiki/Forensic_accounting "http://en.wikipedia.org/wiki/Forensic_accounting"" Categories: Types of accounting | Auditing | Lawsuits | Forensic disciplines Categories: Personal tools •
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עברית Nederlands Português This page was last modified on 23 June 2010 at 13:01.
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