Forensic Accounting


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Forensic Accounting

A branch of accounting that uses investigative skills to determine the accuracy of a company's financial statements in a legal dispute. The word forensic means "suitable for a court of law." Thus, forensic accountants are used in fraud investigations, breach of contract disputes, and other disagreements that require court action. Forensic accountants are often retained by one or both parties in such dispute to bolster their cases.
References in periodicals archive ?
It's no secret that much forensic accounting activity relies heavily on information provided by cost/managerial (CM) accounting systems.
MPI), a national consulting firm founded in 1939 specializing in business valuation, litigation support and corporate advisory work, opened a Philadelphia office to serve as national headquarters for its new forensic accounting and economic damages practice, the company said.
This basic reading of accounting journals and news publications may lead to a larger interest in forensic accounting.
The new Head of FAS will enhance the corporate crime team's forensic accounting capability and bolster its traditional commercial litigation service.
He has applied forensic accounting techniques in bankruptcy matters, where he has represented bankruptcy trustees, creditors' committees and debtors in assignments such as solvency and preference analysis, and investigations for fraudulent transfers.
Janik has spent 30 years providing forensic accounting services, including accounting, financial, economic, construction, fraud and business dispute consulting, and expert witness experience.
The AICPA's Forensic and Valuation Services defines forensic accounting services as "the application of specialized knowledge and investigative skills possessed by CPAs to collect, analyze and evaluate evidential matter, and to interpret and communicate findings in the courtroom, boardroom or other legal administrative venue.
Formed last year by managing partner Geo Mesher, Tempest is a specialist forensic accounting rm oering fraud investigation, commercial dispute resolution, expert witness, family/matrimonial valuation and personal injury loss services.
client relationships, managing operational and administrative activities, and supervising forensic accounting services.
Dempsey staff will form a consulting unit at Aon that focuses on claims preparation, business interruption valuations, and related forensic accounting services to the risk management sector.
NEW YORK -- StoneTurn Group, a forensic accounting and dispute consulting firm, today announced the addition of Roger Siefert as Principal, and Michel Hagenaar as Managing Director, in its New York, NY office.
Assuming that one considers fraud as the main source of human greed and absolute arrogance of the human nature, and that it is also innate in those who perpetuate it, never contented with what they have or always taking advantage of a perceived lack of control, forensic accounting is regarded as one area of these fields of accounting that is going to receive greater attention in future research, be it sociological or humanistic approach.
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