One of our most frequently asked questions is ‘what does a forensic accountant do?’, so we thought we would pull all of our knowledge together into one big blog post, to help you better understand how you could use a forensic accountant!
An introduction to forensic accounting
Forensic Accounting is a specialty area of accounting that has become increasingly popular over the years. Forensic accountant roles require a huge amount of skill, to help uncover financial discrepancies that may indicate crime, fraud or falsehoods, in a range of cases and industries. Read on to find out more about this area of accounting, and how a forensic accountant could help you.
Forensic accountant definition
The term ‘forensic’ means the application of scientific methods and techniques to the investigation of crime, although this is now commonly extended to civil proceedings. Therefore, forensic accountants are often asked to use their expertise to investigate business or personal finances to look for discrepancies, hidden assets, or evidence of a crime or lie.
Duties of a forensic accountant
Forensic accountants will often have to carry out detailed investigations to uncover information and identify those anomalies in financial reports and documents. They will then provide a report of the findings and offer insights and reconstructions into how the activities were carried out.
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When are forensic accountants used?
Forensic accountancy skills are used in a number of situations, including:
- Divorce cases
- Business negligence
- Fraud and other crime investigations
- To review the work of other accountants and financial professionals
- Large scale corporate issues
- Insurance claims
Forensic accountants in court
Forensic accountants or often used as experts in court, to present findings of their investigations in a case. Their expert testimony can be used to help a judge or jury come to a conclusion, make sure settlements are fair, and evaluate whether the conclusions made by the opposition are fair, reasonable and correct.
No matter whether you’re going through a divorce, or you or your company are involved in larger cases, our expert forensic accountants can help you. Get in touch with our offices in Manchester and Salford for more information, or send us a message using the form below.