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.
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.