Accounting Forensics

Forensic or investigative accounting is the specialty practice of accounting in which engagements are related to or in anticipation of disputes or litigation. Forensic accounting experts are frequently retained by one or both sides to calculate, quantify, andor comment on the losses and economic damages asserted by the parties in civil and criminal matters, in essence assessing whether the numbers reflect reality. Forensic accounting engagements typically fall into several categories, such as tort or breach of contract, personal or business disagreement, business valuation, professional negligence claim, or fraud and generally require the experts to have an understanding of business information and financial reporting systems, generally accepted accounting principles and procedures, evidence gathering and investigative techniques, and litigation processes and procedures to perform their work.