The term “forensic” simply means the use of specialization or scientific knowledge suitable for courts or public discussion and debate. It denotes a strong understanding of the matter at hand and its possible legal implications.
Although most Financial Forensic CPAs have strong audit and accounting backgrounds, not all auditors have the skills that allow them to investigate fraud or embezzlement or analyze and present financial information for use in legal proceedings. Another difference between CPAs who focus on Forensic analysis vs Attest (Audits, Reviews, etc.) is that a Financial Forensics investigation is usually specific, agreed upon and tailored to the client’s needs and circumstances. This often saves the client money and achieves the desired outcomes for specialized engagements.
Financial forensic investigations can often pierce the veil of deception from manipulated financial records and piece together key technical data and facts to reveal the true meaning behind the information. These key capabilities underlie all the professional engagements undertaken by Scott Company Consulting, Inc.
Financial Forensics experience helps:
- Discover fraud and embezzlement
- Quantify and recover financial losses
- Protect from embezzlement, fraud, damage or liability concerns
- Resolve compliance issues and disputes
- Interpret financial impacts of laws and legal rulings
- Support litigation, expert witness and court testimony
- Prevent Elder exploitation and abuse
- Investigate theft and abuse of fiduciary duties and financial integrity