financial advisor – MARIELA RUIZ, CPA, PLLC

Forensic accounting is a combination of accounting, auditing and investigative skills used to examine financial settings of an individual or business. These accounting experts are enlisted during a fraud or embezzlement among other legal proceedings, where they provide accounting analyses to help the court better understand the financial crimes that took place. Insurance companies, police forces, banks, and government agencies typically employ them. The financial information that they compile can be used in court, and may be asked to testify in court as well as provide visual aids to support the trial evidence that they discovered.

There’s a variety of forms in which an accountant provides these services. Read along as we discuss a few of them.

Litigation Support

Running a business or company is not an easy task, and when dealing with financial crimes or legal disputes, simply relying on your in-house staff to resolve an issue is not enough. This is where litigation support comes to play. Litigation support is used in litigation cases where the quantification of damages needs to be determined, through legal research and valuation of property. These services are provided to help both parties involved come to a resolution before they reach the courtroom. If a dispute reaches the courtroom, the forensic accountant may then be asked to testify as an expert witness.

Civil and Criminal Investigation

Forensic accounting in criminal investigations is used to determine if financial criminal matters such as employee theft, fraud, and insurance fraud have been committed. A forensic accountant can be used during a civil matters as well. A civil investigation will help identify: hidden assets in a divorce case, breach of contracts, or business valuation disputes.

Finding the Right Forensic Accountant

The right forensic accountant delivers a vast array of accounting services during legal matters. Their evidence can be used during court, and will often be asked to testify as an expert witness. They are reliable, thorough, and highly experienced in accounting, and have a good understanding of the courtroom.

Mariela Ruiz, CPA, PLLC is here to provide efficient and trustworthy forensic accounting services to the community of Mission, TX. From litigation support to criminal and civil investigation, you can depend on our team to help your company determine the facts in your current financial situation. To learn more about our accounting firm and services, visit our website.

Making the decision to bring on a business consultant can be a step in the right direction for your business. Whether you’re searching for a strategic planning partner or more insight into your financials, finding a consultant who can keep your business on track is a game changer. You should hire someone with background knowledge on your industry, organized planning skills, and the ability to develop training programs based on your needs. For more information on what a business consultant can do for you, keep reading!

Initial Assessment

When you set up an official meeting with a consultant, he or she will be able to provide you with an initial assessment. With this assessment, the consultant can detail your business’ strengths and weaknesses, as well as ways to implement improvements. You can also discuss goals and expectations up front, which will help your consultant understand what your wants and needs are. The more information you give up front, the better results and growth you will see overall.

Strategic Planning

Once you’ve gone over the assessment of your business, here’s where your consultant’s organized planning skills will come into play. He or she will come up with manageable business strategies that you can start applying to the company. Small adjustments to your business, like upgrading to newer technology or addressing management problems, are just some of the suggestions your consultant might talk to you about. Of course, a quality business consultant will hold you accountable to make these actions, while giving you guidance along the way. The proper consultant would want your business to succeed!

Effective Training

If your business is underperforming in certain areas, your consultant might recommend management and staff development training. Training targeted for specific levels in your departments can improve communication between management and build quality leadership skills. Although the progress and change you’re hoping for will take time, aiming for the desired results is possible today. Your commitment as a business owner and as a leader to the company is important; your goals can be achievable!

Conclusion

If you want to see improvements for your business, we suggest hiring a business consultant to meet your financial and consulting needs. Here at MARIELA RUIZ, CPA, PLLC, we can address your management concerns and form a plan of action. To get in contact with one of our professional consultants, please call or visit our website today!

MARIELA RUIZ, CPA, PLLC

Helping Individuals and Businesses Financially Thrive.

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What is Forensic Accounting?

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