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Forensic Accounting. ... Forensic Accounting is accounting with specific emphasis in
conducting financial investigations for law enforcement and civil court cases. ...
Forensic Accounting. FORENSIC ACCOUNTING MORE THAN JUST NUMBERS The field of accounting
is no longer just for those who enjoy crunching numbers. ...
... Another area in which database management systems continue to evolve with
industry growth is the area of forensic accounting. Forensic ...
... most out of the corporate wealth • Developing a tax & legal strategy • Managing
insolvency, bankruptcy and receivership Forensic accounting, an emerging ...
... The companies should implement antifraud units, internal audit department or forensic
accounting, in addition of improving their internal control procedures. ...
Submitted by cpjaster on December 4, 2005
Category: Business
Words: 657 | Pages: 3
Views: 201
Popularity Rank: 52,227
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FORENSIC ACCOUNTING
Alicia Johnson
ACCT 310 – Intermediate Accounting II
Professor McNeal
Fall 2004
Forensic Accounting is a fast growing field in the “World of Accounting”. Its creation dates back to the early 1800’s in Glasgow, Scotland. Although it has been around for a long time, it has become increasingly popular in the past few years as there have been a number of corporate scandals, stricter reporting, and internal control regulations involving public awareness and importance in the business world.
Forensic Accounting is accounting with specific emphasis in conducting financial investigations for law enforcement and civil court cases. A Forensic Accountant has to do a lot of interviewing. Although every case is unique, a typical case for a Forensic Accountant would include the following steps: (1) meet with the client (this is done to get the clearest understanding of the facts, parties involved and known issues); (2) complete a conflict check; (3) begin the initial investigation (it is best to do an investigation before you set your course of action); (4) create a course of action (by completing the above steps, they will help to set the goals to be accomplished and the steps needed to reach these goals); (5) collect evidence which may include locating documents, economic information, assets, a person or company, and proof of the occurrence of an event; (6) perform the analysis ( this involves: calculating damages, summarizing a large number of transactions, performing a tracing of assets, performing present value calculations utilizing appropriate discount rates, performing a regression or sensitivity analysis, utilizing a computerized application such as a spread sheet, database or computer model, and utilizing charts and graphics to explain the analysis); and lastly, (7) prepare the...
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