While the services forensic accountants
provide vary from case to case, one common role is that we "follow the money" to uncover hidden bank accounts, shell companies and other evidence.
The team are currently looking into issues surrounding the illegality of the search warrants, are collating arguments as to applications to dismiss, and are also considering instructing a forensic accountant
to analyse the mass of financial evidence from HMRC in order to challenge the calculations as to value.
know they are performing an investigation that most likely will be used in a legal proceeding.
This additional legal knowledge allows a forensic accountant
to understand the concepts of civil liability, criminal liability as well as investigation and court procedures.
help discover frauds, measure the magnitude of the loss created by the fraud, and testify at trial, explaining the nature and magnitude of the fraud to the judge and jury.
Context is key, and forensic accountants
look at each business and claim individually to identify trends and market factors that may change the outcome of the review.
He also highlighted the case of Damian Clarke who, following detailed work undertaken by forensic accountants
commissioned by the FCA, pleaded guilty to insider trading while working as an equities trader at Schroders, activity which netted him a profit of PS155,000.
In addition, the FBI has 600 forensic accountants
as part of its Forensic Accountant
They are disguised so well and the payments are made to look completely genuine or go through a large web of unidentifiable shell companies and the movement of funds can be so rapid that the best of forensic accountants
find it difficult to trace.'
Chapters explore the legal issues that an investigator or litigant can't just access the data held by a third party in the cloud, and uses a range of experts to consider this area of law and its applications to the legal professional, from fraud investigators to forensic accountants
. The focus on how data is stored and legal ruling involving data creation, storage and manipulation will prove invaluable to businesses and makes for a fine, in-depth survey no computer or business collection should be without.
MANAMA: Aspiring forensic accountants
are getting insights into fraud examination and financial investigative techniques at a specialised workshop that started yesterday.